Functions of Money
The idea that money is worth more today then would be in the future.
What is the time value of money
This function includes all activities involving money.
What is finance?
This term means legal responsibility.
The consumer market of businesses selling primarily to individual consumers.
What is business-to-consumer (B2C)?
This form of utility is added when it becomes easier for customer to acquire a product.
What is possession utility?
What is money?
The process of controlling and making decisions about a business.
What is management?
This business is the relationship between two or more people who join to create a business.
What is partnership?
Consists of customers who buy products for their own use.
What is consumer market?
This form of utility is added when a business changes the form of something to make it more useful.
What is form utiltiy?
This means that money is a common measure of what something is worth or what something costs.
What is the unit of value?
This part of business focuses on the customer.
What is marketing?
An entity that exists to serve some public purpose.
What is an nonprofit organization?
The buying and selling on a large scale.
What is commercial?
This form of utility is added when marketing provides information about a product to a customer.
What is information utility?
Another word for money.
What is currency?
Any activity related to making a product (good, service or idea).
What is production?
What is a sole proprietorship?
The business market of businesses selling primarily to other businesses
What is business-to-business (B2B)?
This form is added when products are made at the time customers need and want them.
What is time utility?
The main goal of a business.
What is make a profit?
These individuals hire, train, and supervise employees?
What are managers?
This form of business is defined by the US Supreme Court as an artificial being, invisible, intangible and existing only in contemplation of law.
What is corporation?
A group of businesses that produce similar goods or services.
What is an industry?
This form of utility is added when products are available at convenient places.
What is place utility?