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Final review OTB

the final review from MR.S

TermDefinition
Basic econmic problem unlimited wants - limited resources
Gross Profit sales minus meterials and labor
capitalism freedom of choice, compition
manufacturing business takes raw materials and puts in a form customers can use
Corporation sells stocks, lightly regulated, biggest profit potental
break even point the amount of items you have to sell to get back the money you spent making those items.
infaltion the value of the dollar goes up
frantise franchisor allows francisee to sell the product, same color, same builing.
consumer price index messures infaltion
mission statement what the companies want to achieve
FDIC federal deposit insurance corporation
opportunity cost what you give up for making a choice
Productivity your output
service business It's consumed at the same tim its produce some does something for you
demand the amount of the good / service that cosumers and willing and able to buy at a particular price
consumers The people who are buying the manufactured goods
supply the amount of items there is for a consumers to purchase
Created by: Colin.balbach
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