Accounting
What is an asset?
The property or items of value a business owns.
What is Market Structure?
How a business is organized based on the number of businesses in competing for sales in an industry.
Who was the first ever Disney Princess?
Snow White.
y=mx+B
What is supply?
The quantity of a product or service that a business is willing and able to offer to consumers at a given price
What is a liability?
Debts owned by others.
What is Oligopoly Disadvantages
Lead to the few companies in them agreeing on pricing.
How much is minimum wage?
15 dollars an hr.
What does GAAP stand for?
Generally Accepted Accounting Principles.
What is supply?
The quantity of a good or service that consumers are willing and able to purchase at a given price during a specific time period
What is expenses?
A cost that businesses incur in running their operations.
The four types?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
What is the biggest planet?
Jupiter
What is the business formula?
Revenue = Price x Quantity
What is normal goods?
A good that experiences an increase in demand due to an increase in a consumer's income.
Cash Flow VS Income Statement?
A cash flow statement sets out a business's cash flows from its operating activities.
What is the Perfect Competition?
It is a characterized by a large number of businesses selling the same products at the same prices.
How much sleep should a human get?
7-9 hrs.
Definition of inflation
The general price level of goods and services in an economy.
What is Luxury Goods?
A good for which demand increases more than proportionally as income rises.
Current VS Long-Term?
Current is an asset that could be used or turned into money. A liability that is a financial responsibility within a year.
What is Monopoly Benefits?
It gives the monopoly a chance to try new things without fear of another company overtaking them.
When was Strawberry Shortcake first on air?( the year).
1980
What is a tax on inflation?
Terrorists.
What is Equilibrium?
A state in which the supply and demand for a given good or service are in balance.