click below
click below
Normal Size Small Size show me how
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 |