Show:
Chapter 1 Business Basics
Chapter 2 Economics and Banking
Chapter 5 Small Business and the Entrepreneur
Chapter 6 Forms of Business Ownership
Wildcard
100
What a company earns when it takes in more revenue (earnings) than it spends.
WHAT IS A PROFIT?
100
A benchmark used to track changes over a period of time in the price of goods and services that consumers purchase.
WHAT IS THE MONTHLY CONSUMER PRICE INDEX (CPI)?
100
Someone who takes the risk of creating, organizing and operating a business, usually to satisfy an unmet need in the marketplace.
ANSWER – WHAT IS AN ENTREPRENEUR?
100
Lucia owns her own dog walking business and has several employees. She filed no legal paperwork and has no partners. Lucia's business is a example of this type of business.
ANSWER – WHAT IS A SOLE PROPRIETORSHIP?
100
The study of how individuals and businesses make decisions to best satisfy wants, needs, and desires with limited resources.
WHAT IS ECONOMICS?
200
A name for physical products that a business offers.
WHAT ARE GOODS?
200
An economy run entirely by individuals and businesses with no government involvement.
WHAT IS A FREE MARKET ECONOMY?
200
A type of entrepreneur who prefers to keep his or her business small.
ANSWER – WHAT IS A MICROPRENEUR?
200
In a partnership, where all partner's profits and losses flow.
WHAT IS THEIR TAX RETURN?
200
The collective name for the various resources used to create a company's goods and services.
WHAT ARE FACTORS OF PRODUCTION?
300
The movement toward a more interconnected and interdependent world economy.
WHAT IS GLOBALIZATION?
300
The price at which everyone who wants the item can get it without surplus or further demand.
WHAT IS THE MARKET PRICE?
300
They want flexibility and freedom in the way they balance their personal and work lives.
WHAT IS A LIFESTYLE ENTREPRENEUR?
300
The most significant difference between a partnership and a sole proprietor.
ANSWER – WHAT IS THE NUMBER OF PEOPLE CONTRIBUTING RESOURCES?
300
The MOST compelling argument for incorporating a business.
ANSWER – WHAT IS LIMITING LIABILITY (PROTECTING PERSONAL ASSETS)?
400
A company's choice to relocate its production facilities overseas or subcontract at least some of the components to foreign companies at low costs.
WHAT IS OFF-SHORING?
400
A market situation that occurs when there are a few sellers in a given market and each seller has a fairly large share of that market.
WHAT IS AN OLIGOPOLY?
400
The number of all start-ups that fail in the first year.
ANSWER – WHAT IS NEARLY ONE-FOURTH?
400
A partner who invests money in a business but is not involved in the day-to-day operation and is only risking capital equal to what they have contributed.
ANSWER – WHAT IS A LIMITED PARTNER?
400
A temporary state of unemployment in which workers move between jobs, careers, and locations.
WHAT IS FRICTIONAL UNEMPLOYMENT?
500
Companies that are not very profitable would be considered this.
WHAT IS AN INEFFICIENT COMPANY?
500
A decrease in the rate of inflation over time.
WHAT IS DISINFLATION?
500
Isaac is a franchise owner of a fast food restaurant. When another franchisee is accused of using artificial meat in its hamburgers, sales at Isaac's franchise location drop dramatically. The disadvantage of franchising that is BEST demonstrated by Isaac's situation?
ANSWER – WHAT IS SHARING COMMON PROBLEMS?
500
A dance studio and a dancewear manufacturer decide to combine. The type of merger demonstrated.
ANSWER – WHAT IS A VERTICAL MERGER?
500
A job that contributes to improving the environment.
WHAT IS A “GREEN COLLAR” JOB?