Economics
Monetary gain or advantage
What is profit?
The organizational function that deals with a firm's employees
What is Human Resource Management (HR) ?
Accounting entries involve a minimum of how many accounts?
Two
Two or more businesses vie for a customer's business
What is competition
A company in the energy market created secret partnerships to hide debt, leading to its collapse. What company was it?
Enron
Products sold to other governments or countries
What are exports?
Licensing the rights to an established business
What is franchising?
A business owned by one individual.
What is a sole proprietorship?
The movement toward a more interconnected and interdependent world economy
What is Globalization
What type of loans did Countrywide Financial give out to unqualified customers, which caused the 2008 recession?
Mortgage Loans
What is a condition that exists when imports are greater than exports?
What is a Trade Deficit?
A seller of goods or services
What is a vendor?
A report that presents the financial condition of a company as of a specific day.
What is a balance sheet?
A business that is independently owned and operated and not dominant in the field of operations
What is a Small Business
A car company in the automotive market installed a device on its cars to cheat on emissions tests, polluting the environment. What company was it?
Volkswagen
Occurs when a country is able to produce a particular good or service at a lower price than other countries.
What is absolute atvantage?
Independent contractors who work for others, usually on a project-by-project basis
What are freelancers?
A report that details the results of a business operations for a certain period of time.
What is an income statement?
What are the Factors of Production
Land, Labor, Capital
A bank in the financial services market opened fake accounts for customers to meet sales goals, defrauding them. What company was it?
Wells Fargo
What measures output of goods that a country produces within its borders (even those produced with foreign resources)?
What is Gross domestic product (GDP)
Failure to use a reasonable amount of care resulting in damage.
What is negligence?
Owner's share of the worth of a firm
What is owner's equity?
A company's obligation to conduct its activities with the aim of achieving social, environmental, and economic development
What is Corporate Social Responsibility
CEO Elizabeth Holmes had healthcare company in the medical diagnostics market that claimed to have revolutionary blood testing technology that didn't work. What company was it?
Theranos