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Chapter Two Financial Algebra Vocabulary and Formulas Flashcards | StudBud

Explore/Chapter Two Financial Algebra Vocabulary and Formulas

Chapter Two Financial Algebra Vocabulary and Formulas

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#financialalgebra #financialvocabulary #quadraticapplications

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Questions 11

Answers

1
The formula used to calculate revenue is:
R = price + quantity
R = price x quantity
R = profit + revenue
R = price - quantity
2
This word describe the amount the retailers increase the price of a manufacturer's widget.
retail price
demand
markup
profit
3
In business, we can use this formula to help us calculate:
Profit
Breakeven points
Expenses
Maximum of a parabola
4
Define supply
the money you generate
the amount consumers want
revenue minus expenses
the amount a manufacturer makes
5
This word describes where supply and demand are the same.
shift
zero net profit
equilibrium
breakeven point
6
Define variable expenses
Total expenses your company incurs
Expenses related to supplies, number of items, etc.
Expenses linked to overhead costs like computers, rent, etc.
Production costs
7
This formula helps you solve for:
The maximum profit
expenses
revenue
the break even point
8
When your revenue minus your expenses is negative it is:
a good day
loss
a sign
profit
9
P = R - E is use to help us find:
Parallel costs
Profit
Price
Promotional expense
10
A quadratic equation has
an x raised to the second power
a graph that is a parabola
a maximum or a minimum point
a graph that is a line
11
When there is only one break even point on a revenue vs expense equation it means:
Every price yields profit
No price amount will give you profit
the graphs do not intersect
You are making a ton of money