Economics
The inverse relationship between price and demand. As the cost of a good increases, the quantity demanded by consumers decreases, and vice versa.
What is the law of demand?
This multinational commerce company was founded in Jeff Bezos’ basement.
What is Amazon?
The amount of money a company makes before expenses are subtracted.
What is revenue?
This fast-food chain’s ice cream machine “being broken” has become a viral internet meme.
What is McDonald's?
This is the specific group of people a company wants to sell its products to.
What is a target market?
What is the term for when you give up one thing to get another, this is what you incur?
What is opportunity cost?
This popular search engine was originally called “BackRub”.
What is Google?
A company valued at over $1 billion that is privately held is called this mythical creature.
What is a unicorn company?
In The Social Network, this company was founded by Mark Zuckerberg.
What is Facebook?
This 3-word phrase (CSR) refers to a business’s concern for the welfare of society, not just its own profits.
What is Corporate Social Responsibility?
This type of unemployment occurs when workers are between jobs.
What is frictional unemployment?
What food company uses animal mascots (Newton the Owl, Tony the Tiger, and a rooster named Cornelius) to sell their products?
What is Kellogg’s?
What does the acronym FIFO stand for?
What is First-In, First-Out?
This luxury brand sparked controversy after releasing a $2,000 “destroyed” sneaker
What is Balenciaga?
This 3-letter acronym (SEO) refers to the process of improving a website so it appears higher in Google search results.
What is Search Engine Optimization?
This market structure features many sellers offering identical products and has no barriers to entry.
What is perfect competition?
What is the name of Twitter’s blue bird mascot?
Who is Larry?
When a company expands into new markets or products to reduce risk.
What is diversification?
This streaming company shifted from mailing DVDs to becoming one of the largest original content producers in the world.
What is Netflix?
If you invent a new machine or a unique gadget, you apply for this to prevent others from stealing your idea.
What is a patent?
What is game theory?
The theory that mathematically and probabilistically models how individuals, businesses, and entities make strategic decisions when the outcome depends on the actions of others.
This famous ice cream company was originally going to sell bagels.
What is Ben and Jerry's?
When investors believe an asset’s price will continue rising simply because it has been rising, ignoring fundamentals, this phenomenon is known as what?
What is a speculative bubble?
This quantitative trading firm, known for its secretive culture and rigorous hiring process, is often referred to as a “code-driven Wall Street powerhouse.”
What is Jane Street?
What are the 4p’s of the marketing mix?
What are Product, Price, Place, and Promotion?