Show:
The Business Cycle
Define
Explain
Define
Franchise vs. Partnership
100
Any; Prosperity, Recession, Depression, Recovery
What is one step in the business cycle?
100
Someone who takes a risk in starting a business to earn a profit.
What is a entrepreneur?
100
A monopoly is when one company has control over an entire market.
What is a monopoly?
100
Profit is the money left from a sale after all costs of operating a business have been paid.
What is profit?
100
A franchise is a contractual agreement between a franchisor and a franchisee to sell a company's products within a designated geographic area.
What is a franchise?
200
Any two of Prosperity, Recession, Depression, Recovery
What are two steps in the business cycle?
200
A protective right of the work of arists. Lasts for the lifetime of the author plus 70 years.
What is a copyright?
200
Antitrust laws prevent monopolies and other unfair business practices.
What are antitrust laws?
200
Expenses are the costs of running a business.
What are expenses?
200
A franchisee asks for the franchise, and pays the franchisor an initial fee and annual fee.
What is a franchisee?
300
Any of Prosperity, Recession, Depression, Recovery
What are three steps in the business cycle?
300
A word, symbol, or picture associated with a specific company.
What is a trademark?
300
Business ethics are a set code for how a company and it's employees should behave.
What are business ethics?
300
Capital is the goods and services used in running a business.
What is capital?
300
A franchisor gives out the franchises; it is the parent company.
What is a franchisor?
400
Prosperity, Recession, Depression, Recovery
What are the four steps of the business cycle?
400
A business with poor working conditions, bad treatment of employees, and low wages.
What is a sweatshop?
400
Social responsibilities are a business' obligation to do good for the community.
What are social responsibilities?
400
Revenue is the total amount of money received for the sale of goods and services.
What is revenue?
400
A partnership is a business owned by two people by a contract who share risks and rewards of the business.
What is a partnership?
500
The movement of an ecconomy from one condition to the other; Prosperity, Recession, Depression, Recovery
What is the business cycle, and the four steps of the business cycle?
500
Legal entity is when a company legally exists separately from it's owners.
What is law entity?
500
Legal entity is when a company legally exists separately from it's owners.
What is legal entity?
500
Any goods or services used by a business.
What are 3 examples of capital?
500
Partnership - Easy to start, easier to obtain capital, more skills in business. Profit is split, unlimited liability. Franchise - Easy to start, products are trusted. Franchisor is strict, limited in products to offer.
What is a franchise compared to a partnership? (Advantages, Disadvantages)