Business Foundations Semester Round-Up

What is it called when supply equals demand?

Mrs. Dortch is the first and only person to manufacture caffeinated orange juice. This is a...

What will you do over the summer break?

If sales are low, what phase of the product life cycle might cost companies the most?

You buy a new set of "Beats" from a street vendor. When you get them home, they say "Beets".

This is a picture or symbol that represents a specific company or product.

Land and natural resources, labor, capital, and Entrepreneurship are factors of...

Trick question: The ease with which an asset can be converted to cash is called...

This type of business structure issues stock.

Your obligation to actually study for your test is an example of what kind of employment skill?

When you actually take the time to study for your test, you are acting

These are the company's debts and financial obligations (OWES).

A period in the business cycle in which unemployment and interest rates are low.

This type of competition has numerous, well-informed buyers and sellers.

A general rise in the level of prices

Cellphone carriers/ service providers are part of this type of competitive market.

Inflation, interest rates, and unemployment rates are low. Our economy is...

Monopolies are illegal in the United States except for:

The US has free enterprise and social welfare programs. Therefore, we are a ____ economy

The US government will use these two things to help stimulate economic growth and prosperity:

When is your last day of classes/exams?

The top governing, elected body in a corporation.

Which of the following is the Accounting Equation?

Balance of trade is:

The marketing mix has four P's. Which one of the following is not part of the mix?

When working in groups, team members often ______ tasks to each other for completion.

This type of economic system, key industries are owned by the government, others by individuals

The law of demand says that as price goes up, demand goes....

Looking at this picture, which phase of the product life cycle has the highest sales?

As selling price of an item goes up, without increases in production costs, supply will go...

What law prevents monopolies in the United States of America?

If you are UNDER 16 years of age, you can work until ______ on a school night.

Mcdonald's is an example of what type of business structure

This is an economic system in which individuals own and operate the majority of businesses.

Patents, copyrights, and trademarks are examples of this type of:

Partial ownership in a corporation is called...

What is the Ohio minimum wage?

How can we measure economic performance? How do we know if the USA economy is healthy?

Currently at 5.2% in Ohio, this is the percentage of people actively seeking work.

These are the resources a business OWNS.

Which of the following is an example of a "socialist program/policy" in the US?

Stock with voting rights

What federal agency oversees and enforces trade regulations?

The recurrence (cycle) of periods of growth and recession in a nation's economic activity

the organized effort to produce and sell goods and services that satisfy society's needs

Businesses and Consumers can be impacted by a variety of environmental factors like:

This is an economic system in which the GOVERNMENT owns, operates, and controls most businesses

This type of business structure does not operate to earn a profit, but to serve it's community

What is the number 1 challenge facing ALL countries/governments/societies?

The U.S. has debt and poverty. Studying this helps us better understand why and how to fix it.

Why does a country/government need to know what goods and services to produce?

Which do you prefer?

This is the TOTAL DOLLAR VALUE of all goods and services produced within the USA

Owners of this type of stock do NOT have voting rights.

What is the most popular type of business structure, making up nearly 75% of all businesses?