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OTB Finals

Mr s's final

principal definition
basic economic problem unlimited wants, limited reasorces
gross profit sales minus expenses
capitalism freedom of choice
manufacturing refines raw materials for consumption
corporation sell stocks, tightly regulated, biggest profit potential
Break even point the point where all fixed are covered and the company starts making profit
inflation the value of money goes down
franchise the franchiser allows a franchise to sell a product under name
consumer price index measures inflation
mission statement A statement of what the business wants to achieve.
FDIC Federal deposit Insurance Corporation- insure banks
Opportunity cost what you give up for making another choice. The next best
productivity output (how much generate)
Service company its produced at the same time its consumed
demand the amount a consumer will buy for a certain type
capital things used to generate profit or grow a business
stock a small portion of a business you can buy and sell
Popular Business sets

 

 



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