Business Structures
If you control a restaurant, a shoe store and a clothing store you are an example of a __________.
Conglomerate
Andrew Carnegie was an example of a ___________.
Monopoly
Monopolies have a _______ barrier to entry.
High
__________ and _____________ are two factors that can cause a shift in a supply curve.
Possible answers: weather, input prices, technology, sellers, government actions
Hot dogs and buns are _____________ goods.
Complimentary goods
When you take out loans to take out a business this would be called a ____________.
LBO
Leveraged Buyout
If pepsi is a normal good what will happen when income increases.
People will buy more. Supply will increase.
A donut shop combining with another donut shop would be a _____________ merger.
Horizontal
___________ and _________ are factors that could shift a DEMAND curve.
Possible answers: taste/preferences, income, substitutes and complementary goods, population, product expectations
If orange juice is an inferior good than what happens when the consumers income goes up?
Less demand for orange juice
When one company takes over another it is an ________________.
Acquisition
When input prices are increase what happens to the supply of the main product?
Decreases
An example of a vertical merger would be a jam factory combining with a _______.
Fruit farm/distributor
If the supply line is shift to the left there is a ____________.
Decrease in supply
_______ are large corporation that produces and sells its goods/services throughout the word
Multinational corporations
A partnership is ______ amount of people working together to start a business.
2-3
True or False: An elevator pitch for a good/service/business is 60 seconds in length.
False
Google and Fitbit merging was an example of a ________.
Conglomerate
In a supply and demand line where all other factors stay the same:
If peanut butter is on sale than the supply will ___________ and adversely the cost of jelly will _____________.
Increase, increase
True or False: It is better to have a surplus than a shortage because at least you will have enough supply to meet the demand.
False
Shareholders are part of a _________________ business structure.
Corporation
When you plot a secondary good on a supply and demand curve and you are below the equilibrium point you are in a
_____________.
Shortage of deficit
Opec is a great example of a __________ business structure.
Cartel
In order to avoid excess supply a company should look at the ______________ on their supply and demand charts.
Equilibrium Point
Any number above the equilibrium line is considered a _______________.
Surplus