Articulation Final Part 2

If you already know revenue, which of the following examples best describes the element needed to calculate profit?

how willing and able sellers are to provide goods and services at different prices.

A company with a lot of debt is considered to be heavily leveraged.

When a private company becomes a publicly owned company by issuing stock to the public, it is known as going public.

The________ is the level of joblessness among people 16 years or older actively seeking work.

________ is a general increase in the prices of most goods and services.

the hardest set of skills for a manager to master, ________ skills are the ability to work well with other people

_______ law is based on precedents, the decisions judges made in similar past court cases

A mission statement guides small-business owners as they prepare to open their new businesses.

The ________ price reflects what the consumer is willing to pay.

Which of these organizations is the most likely to be a nonprofit?

inventory that can quickly be sold and turned into cash.

Expressing an organization's fundamental purposes is a key element of its ________ statement

Peer-to-peer lending, which allows individuals to borrow and lend money while bypassing financial institutions

Kickstarter and Indiegogo are companies that focus on

The ________ of an organization are those who can claim it as their legal property.

market with many small sellers who sell interchangeable products to many informed buyers

The study of the economy as a whole.

When two or more consecutive quarters experience a decline in GDP, the country is

Which of the following is one of the four psychological characteristics of a successful entrepreneur?

Many ________ businesses are one- or two-person operations, from clothing boutiques to website developers.

Top managers make ________ decisions about the overall direction of the organization

A ________ is a business owned and operated by two or more persons as a voluntary legal association.

Individuals, usually wealthy, who invest their own money in a startup company

Taking a risk to develop a new business is a process known as

A(n) ________ is a company that invests in new businesses in return for part ownership of them

Another name for a free-market economy is capitalism.

AARP is an example of a(n) ________ whose members try to influence businesses and governments on specific issues.

Large companies provide the first job for most entrants into the U.S. labor force.

__________ offer small businesses low-cost workspaces with basic services.

Another name for the acid-test ratio is the ________ ratio.

Which factor of production includes the buildings and tools that are used to produce goods and services?

The statement "assets = liabilities + owners' equity" is called the

Money that can be accessed quickly and easily, such as that in a checking account

It outlines proposed company's goals, planned methods for achieving them, and standard for measuring success

The Spirit Spot is preparing to sell some stock to the public next month. This is

Copyrights protect ownership rights to literary, artistic, and scientific works.

the value of all goods and services that the United States has produced in one year

Study of the economic behavior of individual economic units.

Things of value owned by a business are its

This shows a firm's revenues and expenses for a particular time period and the resulting profit or loss.

In a ________ economy, some resources are allocated by the free market and some by the government.

By selling, a company generates ________, which is the total amount of money that the selling of goods or services 

The ________ is the part of the government responsible for monetary policy.

The process in which a neutral third-party listens to both sides in a dispute, makes suggestions, and encourages them

The essential characteristic of current assets is their

A(n) ________ occurs when two firms join to form a new firm.

Which of the following management skills is needed most by top managers?

One of the benefits of the sole proprietorship type of business ownership is that you

The trough is the lowest point of a business cycle.

In ________ economies, the government owns most businesses and regulates goods and services

Legally protected inventions, such as machines, manufacturing processes, and chemical substances

Independently owned and operated, is not dominant in its field & usually has less than 100 employees

The total value of all the goods and services that a country produces within its borders in one year

During which phase of the business cycle does the pace of economic activity slow down and GDP falls?

Those who have an interest in a business, such as employees, suppliers, and customers, are

One reason for choosing to take over an existing business rather than starting a new business from scratch is

an economic system in which the government owns some major industries, but individuals own smaller businesses

All things are essentially scarce.