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Study Stack #2
Stock Market-Entrepreneurship-Economics Review
| Question | Answer |
|---|---|
| The S&P 500 | A barometer that tracks five hundred large companies in the United States. |
| Dow Jones Industrial Average | A barometer that tracks thirty large companies in the United States. It's the oldest index in the U.S. |
| Nasdaq | A stock market created in the 1970s. Companies that trade on this exchange have four letter ticker symbol. |
| New York Stock Exchange (NYSE) | Companies that have one, two or three letters in their stock ticker use this market |
| Market Price | The price in which one share of stock may be bought or sold in a stock market |
| Market Place | Any place where buyers and sellers might gather to exchange goods and services |
| Market | Where individuals are free to engage in business transactions |
| Index | A selection or group of companies that are used to track how well the overall stock market is doing |
| Capital | Money, equipment, buildings, and vehicles that a business needs |
| IPO | Initial Public Offering |
| Google's Original Name: | Backrub.com |
| Dominoes Original Name: | DomiNicks |
| High Supply | The higher the price the consumer pays, the more producers want to supply |
| Low Supply | The lower the price the consumer pays, the less producers want to supply. |
| High Demand | The lower the price, the more consumers want to buy. |
| Low Demand | The higher the price, the less consumers want to buy |
| Supply | What your business has to offer for sale |
| Demand | How bad somebody wants your product |
| Consumer | someone who uses these goods and services |
| Producer | someone who provides the goods and services |
| What happens when Supply and Demand Equal? | Prices are Maximized (Equilibrium) |
| What happens when Demand is higher than Supply? | Raise Prices! |
| What happens when Supply is higher than Demand? | Lower Prices! |
| Net Income | Income after all the Expenses have been paid |
| Needs | Necessities like heat, water and electricity |
| Wants | Luxury items like a cell phone, internet and cable/satellite |
| Human Capital | All the skills that a person possesses: education, intelligence, creativity, work experience |
| Scarcity | Money, Time and Natural Resources |
| Opportunity Cost | What we give up when we make choices |
| Entrepreneur | Someone who starts or inherits a business |
| Goods | Something material that you can see or touch |
| Services | Something that you are unwilling to do yourself or can't do yourself |
| Competition | Producers create quality products and sell them to consumers at the lowest possible prices |
| Command Economy | Prices are all set by the government and there is no concept of profit as we know it. |
| Monopoly | One company controls a particular product or service and therefore prices will increase |
| Economics | The study of production, consumption and distribution of goods and services |
| CEO | The elected president of a corporation in charge of running the company |
| Board of Directors | Usually an odd number of people (9 or 13) elected by shareholders to make major decisions |
| Sole Proprietorship | A business owned by one person |
| Corporation | A business owned by shareholders |
| Partnership | A business owned by more than one person |
| Apple Computers | A business started out of a garage by two men in the late 70s: Jobs and Wozniak |
| Bill Gates | This man dropped out of college to start this computer company in the early 80s |
| Total Revenue | Total Sales of a company before any bills have been paid |
| Tootsie | Nickname of the daughter of an Austrian Candy Maker |
| Gazillionaire | A program that helps students learn about Supply & Demand + Profits |
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