EC-002
Gross profit – Operating expense =
What is Net profit
What type of risk are Tornadoes, earthquakes, and blizzards
What is Hazard Risk
Enforcing recycling laws is
What is Limited government control
Prices set by the government is
What is Prices set by the government
A bowling alley and a sandwich shop what is this Competition
What is Indirect Competition
Income from sales – Cost of goods
What is Gross profit
Possibility of loss, no change, or gain what risk is this
What is Speculative risk
Raising prices as customer demand for a product grows is
Who is The price-directed system
Consumers make economic decisions What is the system
What is Market economic system
Delivery services to customers what type of competition is this
What is Nonprice competition
Income – Expense =
What is Profit
What risk is Fading away over time
What is Obsolescence
Owning a building
What is Private Property
Based on habits, customs, and beliefs what is the system
What is Traditional economic system
Southwest Airlines and United Airlines what type of competition is this
What is Direct Competition
Private enterprise is often called a
What is market economy
What type of risk is Rivalry for the sale of goods or services
What is Competition
Starting your own restaurant is
What is The profit motive, freedom in the marketplace
Sweden is what
What is a socialist country
A coupon offering $1 off the price of a pizza what type of competition is this
What is Price Competition
What is The amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell; the amount of money a business pays for the products (or for any part of the products) it sells
What is Cost of goods
What risk is Reputation damage
What Is Strategic Risk
The profit motive, freedom in the marketplace is what
What is Freedom in the marketplace, the profit motive
North Korea is what
What is a communist Country
A fitness gym and a beauty salon what type of competition is this
What is Indirect Competition