Business Basics
When a company's investment costs them money, the company is taking a ____________.
Loss
The name of the crime that Bernie Madoff committed.
Ponzi Scheme
Someone who owns a portion of a publicly traded company.
Shareholders
A person who starts a business from scratch.
Entrepreneur
Analyzing economic metrics at an individual business level is called?
Microeconomics
The investment made to operate a business.
Costs.
If company A and B offer the same product, but company B sells the product at a lower price. Company B has an _______________.
Absolute Advantage
Those who rely on the success of the company, but do not have ownership in the company.
Stakeholders
A person who spends money on goods or services in a marketplace.
Consumer
Analyzing economic metrics for an entire country is called?
Macroeconomics
Buildings, computers, and other supplies needed to operate a business. *One of the four factors of production.
Capital
If company A and B offer the same juice product, but company B has more flavors to offer. Company B has an _____________.
Comparative Advantage
If you have ownership in a publicly traded company, you own ________________ in the company.
Shares/Stock
The owner of a publicly traded company who owns 51% or more of the stock.
Majority Owner
This is one of the four factors of production that relies on people
Human Resources
What a business losses when a certain decision is made instead of another.
Opportunity Costs
If company A and B offer similar products, and company B's product is better quality, they have an ____________________.
Competitive Advantage
NASDAQ
The decision by the ownership to focus on making money, but doing in a way that respects the community in which they operate.
Corporate Social Responsibility
A survey that evaluates how happy citizens of a certain country are.
Quality of Life
Resources used in business that come from the Earth. *One of the four factors of production.
Natural Resources
This metric is based on the access to goods and services citizens have within a country.
Standard of Living
A market where investors can bid on stocks at auction.
NYSE
This describes how ambitious company leaders are to grow an existing business. *One of the four factors of production.
Entrepreneurship
A lengthy document that describes a business concept and given to potential investors.
Business Proposal