Econ 101
A decrease in the cost of goods and services.
What is Deflation?
The amount of money a company makes from sales.
What is Revenue?
This is required when opening a checking account.
What is an Initial Deposit?
Product, Promotion, Price, Place
What are the 4 P's of Marketing?
"I'm lovin' it"
What is McDonald's?
The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most likely due to:
What is Inflation?
Revenue is less than expenses.
What is a Loss?
The monetary charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
What is Interest?
Visual representation of your brand.
What is a Logo?
"Eat more chikin"
What is Chic Fil A?
An expense that you would like to have but is not an absolute necessity.
What is a Want?
People who start their own businesses.
What is an Entrepreneur?
Which interest-bearing account is best for people who won’t need access to their money for several months of longer?
What is a Certificate of Deposit?
Short phrase to make your logo and name even more memorable.
What is a Slogan?
A famous person appears on behalf of the product.
What is Celebrity Appeal?
The amount of pay you take home after all taxes are taken out.
What is Net Income?
Money paid on business expenses (spent to make products, office equipment, pay employees)
What is Cost?
A plan for spending or saving money that is made up of income and expenses.
What is a Budget?
Any item or service you sell to serve a customer's need or want.
What is a Product?
An ad that makes you laugh to encourage you to buy a product.
What is Humor Appeal?
The interest rate charged by a credit card company on any outstanding credit card balance.
What is Annual Percentage Rate?
Positive earnings, when you have earned more in revenue than you spent on expenses.
What is a Profit?
A fixed payment, usually paid on a weekly or bi-weekly basis that does not vary depending on how little or how much you work.
What is a Salary?
The group of people your product or service is designed for based on things like age, gender, lifestyle, etc.
What is a Target Market?
An advertisement that tries to convince you that “everybody’s doing it” or everyone has this product.
What is Bandwagon Appeal?