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Vocab
Ownership and Competition
Supply and Demand
Business Classification
Functions of Business
100
Nike's Swoosh Logo
What is Trademark
100
Encourages people to open up businesses
What is Free Enterprise System
100
Bob's ability to purchase a new truck with big mud tires on it.
What is Demand
100
the take either stuff from dirt or stuff from water
What is an Extractor
100
Workers in these section look over the money
What is Finance and Accounting
200
This type of business is financed by Uncle Sam
What is Public Sector
200
These are good for 20 years before someone else can have it
What is a Patent
200
Tons of people want the new iPhone but only so many available is an example
What is Shortage
200
Domestic vs Global are used to compare this classification
What is Scope
200
The right goods at the right time in the right place at the right in the right amount
What is Price
300
A competition where you would not compare quality of goods.
What is Price Competition
300
Owning all of the business in a competition industry
What is Monopoly
300
This law is followed by having price and quantity move in the same direction
What is Supply
300
Well you are either McDonalds or a soup kitchen in this classification
What is Purpose
300
A job where you buy from a wholesaler and then sell to Costco would be an example of this job.
What is Procurement
400
A company that makes LED screens for cell phones would fill type of demand.
What is Derived Demand
400
Owning shares of a company like Google or Apple.
What is Stockholders
400
Where supply and demand meet
What is Equilbrium
400
Build factories, housing projects, and apartments
What is Construction
400
Statement that reflects ongoing operations of a firm
What is Profit and Loss Statement
500
A agreement that would let you create UND hockey jerseys to sell out of your house.
What is Licensing Agreement
500
Businesses lay of employees, government gets less taxes, and special services lose money when this goes down.
What is Profit
500
This product was in high demand in the last two weeks but now is in a high surpluses
What is Halloween Candy
500
Mr. Holland worked in this sector before becoming a teacher
What is Private Sector
500
A job where you plan, control, and organize
What is Management