Economy
What type of Healthcare system does the USA and Canada have respectively?
USA Private
Canada Public
A market is a combination of what two things
C_________ and C___________
Cooperation and Competition
The Delivery Truck of a business is an ________
Asset
Revenue - Expenses = _____________
Profit
Name 3 things you should ask a banker before opening an account?
Minimum Balances
Fees (Overdraft Limits)
Transaction Allowances
Interest Rates
Name 2 of the 3 groups in an economy?
Government
Consumers
Producers/Businesses
The amount of a good or service that consumers are willing and able to buy at a particular price
Demand
The Accounts Payable of a business is a _____________
Liability
Big Brothers Big Sister and the Cancer Society are examples of this type of business?
Non-Profit Businesses
Liabilities are also known as ________
Debt
What is the persistent rise in the average level of prices?
Inflation
The amount of a good or service that producers are willing and able to sell at a particular price
Supply
What is the difference between consumers and customers?
Customers buy the products
Consumers use the products
What are the 4 types of Business Ownership?
Sole Proprietorship
Partnership
Corporation
Franchise
What are the things you own called?
Assets
What are the 4 types of business?
Service, Merchandising, Manufacturing, NonProfit
Name 1 of the 5 Shifters of Demand
●Tastes/Preferences
●Number of Consumers
●Price of Related Goods
○Substitutes Complements
●Income
●Expectations
The work of an _____________ is clerical in nature and deals with routine matters.
Accounting Clerk
What are SME's
Small or Medium Sized Enterprises
Does a CD earn higher or lower interest rates than a Checking and Savings Accounts?
For double the Points, what does a CD stand for?
Higher
Certificate of Deposit
GDP stands for?
Gross Domestic Product
Name 1 of 5 Shifters of Supply?
●Price of Resources
●Number of Producers
●Technology
●Taxes & Subsidies
●Expectations
The ____________ makes payroll calculations
Accountant
Businesses deliver goods or services to customers through a _______ ___ __________.
Channel of Distribution
1. Higher Interest Rate
2. More Transaction Fees
3. Everyday Transactions
4. Less withdrawal restrictions
5. For accumulating wealth long term
6. Backup for unplanned
7. Can order cheques
8. More withdrawal restrictions
9. Used for Interac E-Transfers
10. Emergency fund
11. Connected to a Debit Card
12. Often used for ATM withdrawal expenses
13. Access to easy cash
14. What other account type exists that tends to carry more risk? Used with Stocks, Bonds, and Mutual Funds.
1. Savings
2. Savings
3. Checking
4. Checking
5. Savings
6. Savings
7. Checking
8. Savings
9. Checking
10. Savings
11. Checking
12. Checking
13. Checking
14. Investment Account