Business Fundamentals
The production and sale of goods and services.
What is business?
Electronic devices that process and store data.
What are computers?
A collection of web pages connected together.
What is a website?
The system used by a business to keep track of money coming in and going out.
What is accounting?
Any paid use by an identified sponsor to inform a target market about a product or service.
What is advertising?
A person who purchases goods or services.
What is a consumer?
A worldwide network that connects millions of computers.
What is the Internet?
The first page visitors usually see when they enter a website.
What is a homepage?
he accounting principle that says business finances must be kept separate from the owner's personal finances.
What is the Business Entity Concept?
This advertising objective tells consumers about a product's features and how it works.
What is informative advertising?
This law states that as prices increase, consumer demand decreases.
What is the Law of Demand?
Programs and applications that run on a computer.
What is software?
Buttons or menus that help users move between pages.
What is navigation?
The financial statement based on the equation Assets = Liabilities + Equity.
What is a balance sheet?
This advertising objective tries to convince consumers to buy one product instead of a competitor's.
What is persuasive advertising?
The point where supply and demand are balanced.
What is equilibrium?
The physical parts of a computer, such as a keyboard and monitor.
What is hardware?
Images, colors, and layouts that make a website attractive and easy to use.
What is web design?
Assets are listed in this order on a balance sheet.
What is order of liquidity?
This advertising objective keeps a product visible to the public.
What is reminder advertising?
The stage of the business cycle where economic activity is very low and unemployment is very high.
What is a depression?
Criminal activity involving computers, networks, or the Internet.
What is cybercrime?
A website builder often used by students to create websites without coding.
What is Google Sites?
This principle states that revenue must be recorded in the period it is earned, even if payment has not been received.
What is the Revenue Recognition Convention?
Newspapers, magazines, radio, television, and billboards are examples of this.
What is media?