management
Before starting a business, an entrepreneur must obtain this official document that gives them legal permission to operate.
What is a business license?
This fundamental concept in economics describes the relationship between how much of a good is available and how much consumers want to buy.
What is supply and demand?
You deposit $500 every year into a savings account that earns 5% annual interest. How much will you have after 3 years?
What is $1,576.25?
This document outlines a company's goals, strategies, and financial projections and is often used to attract investors.
What is a business plan?
When the price of a product increases, the quantity demanded usually decreases. This economic principle is known as this.
What is the law of demand?
You invest $1,000 annually in an account that earns 6% interest for 5 years. How much will your investment be worth at the end of 5 years?
What is $5,637.09?
In a partnership, this type of agreement is recommended to outline the roles, responsibilities, and profit-sharing among partners.
What is a partnership agreement?
Name one major international trade agreement that governs commerce between countries, such as NAFTA or the European Union’s Single Market.
What is (NAFTA/USMCA, WTO, or the EU Single Market)?
You want to accumulate $20,000 in 8 years by depositing equal annual payments into an account that earns 7% interest. How much should you deposit each year?
What is $2,010.77?
When hiring employees, businesses must complete this tax-related form in the U.S. to verify a worker's identity and employment eligibility.
What is Form I-9?
This term describes how sensitive the quantity demanded of a product is to a change in price. If demand changes significantly with a small price change, the product is considered this.
What is elastic?
A retiree wants to withdraw $15,000 per year for 10 years from an account that earns 4% interest annually. How much must be in the account at the beginning to sustain these withdrawals?
What is $121,555.93?
If a business wants to protect its unique name, logo, or slogan, it should apply for this type of intellectual property protection.
What is a trademark?
If the price of coffee increases by 10% and the quantity demanded decreases by 5%, what is the price elasticity of demand?
What is -0.5?
You invest $3,000 annually into a retirement account that earns 8% interest, starting at age 25. If you continue until age 65 (40 years), how much will you have at retirement?
What is $777,179.02?