Quant
What is the formula for total revenue?
price x quantity
What do you call the properties and resources owned and controlled by a business?
Assets
What is a system of exchange in which people trade one good or service for another with no money used in the exchange?
Barter
What accounts for the loss in value of property as a result of age, use, obsolescence, and/or physical deterioration?
Depreciation
What animal describes a trader who thinks prices will fall?
Bear
What type of line has an infinite slope?
A vertical line
Total Liabilities divided by Total Assets provides the _____ Ratio.
Debt-to-Asset
What type of market exists when illicit trade in goods occurs in an economy?
Black market
The price at which the quantity supplied in a market is equal to the quantity demanded.
Equilibrium price
What is a distinctive symbol or a graphic version of a company's name, used to identify and promote its product?
logo
An accounts payable is an example of what type of liability?
Current liability
The current ratio is calculated by:
total current assets divided by total current liabilities
A period of economic downturn milder than a depression is called:
a recession
Which costs have already been incurred as a result of past decisions?
Sunk
Making a sales call on a client without an appointment is known as?
cold calling
A diagram used to help visualize operations, such as union and intersection, in set theory is called a _________ diagram.
Venn
What is a contractual opportunity, but NOT an obligation, to buy or sell an asset or security at a pre-determined price on or before a specific date?
An option
Goods that deliver consumption services over an extended period of time.
durable goods
The inverse relationship between the quantity demanded of a good and the price of that good is called the _____.
Law of demand
What is the term for the legal, exclusive right to use a brand name or other identifying mark?
Trademark
The difference between the smallest and largest measures of a set.
Range
What is someone who benefits from a public good or service without paying any of the cost called?
free rider
Final goods and services are goods and services that are purchased for direct _________.
consumption
What market structure exists when no one seller can influence the price in the market?
Perfectly competitive
What is the added value of a brand name beyond the functional benefits of the product?
Brand equity