Show:
Business Concepts
Business Concepts
Accounting
Accounting
Marketing
100
What should be produced, How should it be produced, who should share in what is produced.
What are the 3 basic economic questions
100
The willingness and ability for the consumer to buy
What is demand
100
As a new business, obtaining this may be difficult because you have no track record of being successful
What is start-up capital
100
Inventory is an example of
What is an Asset
100
Conducting this will allow you to find out if there is a demand for a product
What is Market Research
200
Capitalism is another name for this economy
What is a market economy
200
The willingness and ability of a producer to sell goods
What is supply
200
Utility bills is an example of what kind of expense
What are operating expenses
200
When a company receives more revenue than it pays in taxes it has a budget
What is a surplus
200
Generating Ideas, Creating a prototype, test marketing the product are 3 of what?
What are the 7 steps in product development
300
Fixed wages, Fixed prices and no choice what to buy are disadvantages of this type of economy
What is a command economy
300
Unlimited wants and limited resources
What is Scarcity
300
If a company wants to see their net income, they should look at this financial statement
What is the income statement
300
You should keep estimates of income low and expenses high when preparing this
What is a financial forecast
300
Advertising would fall under this marketing function
What is Promotion
400
Inflation, Deflation and National Debt are ways a county measures what
What is Economic Stength
400
As the price of a product increases, the quantity of the products demand decreases, this is an example of what?
What is the law of Demand
400
GAAP stands for
What is Generally Accepted Accounting Principles
400
The Balance Sheet uses this equation
What is the Accounting Equation
400
While a consumer is NOT one of these, An agent, wholesaler and retailer are.
What is an intermediary
500
In regards to fair competition, having competition is healthy for the marketplace. True or False
What is true
500
Natural, Human/Labor, Capital and Entrepreneurial Resources are what?
What are the 4 factors of production
500
This equation will find you the net profit on an income statement.
What is Profit = Revenue - Expense
500
This might be used to attract investors
What is a financial plan
500
What function of marketing happens when you are improving upon a product that is already on the market?
What is Product/Service Management