You Supply
The study of the supply and demand of goods or services in the market
What is Economics?
This chart is A LIST of the various quantities DEMANDED at a certain price level.
What is the Demand Schedule?
The profit formula is
What is
Profit = Revenue - Costs & Expenses?
Long hours, loss of personal assets, and lack of ability to do all aspects of business operations are disadvantages of THIS ownership.
What is a SOLE PROPRIETORSHIP?
The abbreviation B2B stands for this.
This acronym tells us which factors affect Supply.
What is TTONER:
Taxes/Subsidies, Technology, Other goods, Number of Sellers, Expectations, Resource costs
What is BITER
Buyers (# of), Income, Tastes, Expectations, Related Goods.
$710 = Revenue - $120 - $315
Revenue is_________
What is $1,145?
Share the decision-making process and being easier to borrow money are advantages of this ownership.
What is a partnership?
A business that offers their expertise
What is a service Business?
What is right?
As a restaurant owner on a tropical island, you would welcome an increase of tourism because that will do WHAT to the Demand of your restaurant.
What is increase?
The term used for all sales in a business BEFORE DEDUCTIONS
Dividends are given to shareholders of this form of ownership.
What is a Corporation?
A _________ is an organization that provides goods or services to satisfy the needs and wants of consumers for the purpose of making profit.
What is a business?
Nintendo releases a new game for $60. However, they did little advertising before the game released AND a competitor released a similar game. The Demand therefore, _________.
What is decreased?
The price of Dr. Pepper decreases. What happens to Coca-Colas Demand. (SUBSTITUTE GOOD)
What is decreases?
Consumers will buy more at a lower price. To increase profit, a business will supply more products at this price point. (Low or high)
What is HIGH?
McDonalds is both of these types of business ownership.
What is Corporation and franchise?
What are 2 possible ways a business could increase its profits? (HINT: Think about the profit formula)
What is increase price and reduce costs?
What is directly, and up?
Price Per freezie Quantity Demanded
$3 20
$6 16
$9 12
$12 8
How many would be in demand at $15 per freezie?
What is 4?
A farmer calculates that they sold 1200 apples today at $2 an apple. The farmer paid $180 for apple baskets and wishes to invest the leftover revenue of $1,820 back into farm machinery and improvements. What did the farmer pay themselves for the day?
What is $400?
Monthly royalty fees, high startup cost, and limited creativity with business decisions are disadvantages of this ownership type.
What is a Franchise?
DAILY DOUBLE: Answer this question correctly and earn 1000 points. IF YOU ANSWER IT WRONG YOU LOSE 1000 POINTS. You can pass it to the next team if you wish.
Peanut butter and Jam are ________ goods to each other. Their is a inverse relationship between the price of one and the demand for the other.
What is complimentary goods