Show me the money!
Sammy sells sea shells by the sea shore for $20 each. She pays an employee $12 per shell to gather them.
What is the profit per unit?
What is $8 per shell.
What is a merchandising business?
The four forms of business ownership.
What is:
Sole proprietorship
Partnership
Corporation
Franchise
The money made from selling a product or service.
What is a revenue?
Air, water, food, shelter from the elements.
What is a need?
When the selling price of an item is more than the cost of the item
What is profit?
The Purina pet food factory that makes and packages dry pet food.
What is a producer/manufacturer?
What is a corporation?
The final user of a product or service.
What is a consumer?
A Job
What is a need?
Brad Pitt sold a table for $840 and made a profit of $130. The cost to make the table was this much.
What is $710?
A business that sells their expertise.
A disadvantage to this form of ownership is that friendships can be lost or broken.
What is a partnership?
The price to make a product to then be sold.
What is Cost? (Cost of Goods Sold)
The name of the pyramid that describes our wants and needs.
What is Maslow's Hierarchy?
What is PROFIT = REVENUE - Cost and Expenses?
The Canadian Cancer Society, Sick Kids Children Hospital, and the Canadian Red Cross are all part of this type of business.
What are Non-Profit organizations?
A benefit of this form of ownership is the reputation of the company.
What is a Franchise?
The price of running a business other than purchases for creating the product or service being sold. Example/ Wages
What is an expense?
The purpose of starting a business.
What is satisfying a want or need to make a profit?
Sportchek's income statement for September:
Goods purchased $12,800
Wages paid $9,100
Hydro Bill $350
Total Sales $22,200
They made/lost this much.
What is a loss of $50?
The four types of business organizations.
What are:
1.Merchandising/product
2.Service
3.Manufacturing/production
4.Non-profit
You can buy stocks from these businesses.
What is a corporation?
An organization that produces or sells goods and services to satisfy the needs and wants of consumer demands for the purpose of making profit.
What is a business?
There are more of these.
What is a want?