Show:
Basic Principles
Supply & Demand
Types of Business
Industry & Markets
Functions of Business
100
Encourages individuals to start and operate their own businesses in a competitive system, without government involvement
What is FREE ENTERPRISE SYSTEM
100
The amount of goods producers are willing to make and sell
What is SUPPLY
100
This type of business is operated by only one or a few individuals
What is SMALL BUSINESS
100
This consists of a group of establishments primarily engaged in producing or handling the same product
What is INDUSTRY
100
The process of creating, expanding, manufacturing, or improving goods and services
What is PRODUCTION
200
an invention, you alone own the rights to, an idea or item
What is PATENT
200
Consumers' willingness and ability to purchase a product
What is DEMAND
200
A business that sells its product only in the country
What is DOMESTIC BUSINESS
200
Obtain goods from manufacturers and resell them to individual users
What is WHOLESALERS
200
Involves buying and selling goods that have been already produced
What is PROCUREMENT
300
A word, name, symbol, sound, or color that identifies a good or service that cannot be used by a business.
What is TRADEMARK
300
When the amount of product being supplied is equal to the amount being demanded
What is EQUILIBRIUM
300
This functions like a business but uses the money it makes to fund the cause identified in its charter.
What is NONPROFIT ORGANIZATION
300
Buy goods from wholesalers or directly from manufacturers
What is RETAILERS
300
Reports a company's assets, liabilities, and owner's quality.
What is BALANCE SHEET
400
Involves anything that is authored by an individual
What is COPYRIGHT
400
When demand exceeds supply
What is SHORTAGE
400
Their main purpose is to provide services to the people in teh country. Such as military or social agencies.
What is PUBLIC SECTOR
400
The demand for industrial goods based on the demand for consumer goods and services
What is DERIVED DEMAND
400
the function of business that involves money management, where accounting is the discipline that keeps track of a company's money.
What is RELATIONSHIP BETWEEN FINANCE AND ACCOUNTING
500
Exclusive control over a product or the means of producing it.
What is MONOPOLY
500
When supply exceeds demand
What is SURPLUS
500
A large business employs at least this number of people
What is 1000
500
The NAICS stands for this
What is North American Industry Classification System
500
the right goods, the right time, the right place, the right price, the right amount
What are THE FIVE RIGHTS OF MERCHANDISING