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