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final exam review for intro 2 business
final exam for intro 2 business
60
Business
10th Grade
12/12/2012

Additional Business Flashcards

 


 

Cards

Term
Bribery
Definition
The Process of giving or taking brides.
Term
Business plan
Definition
A written description if a new business venture that describes all aspects of the business.
Term
Comand Economy
Definition
A economic system in which a central authority makes the key economic decisions
Term
Company Description
Definition
A decription of what the company is and what it does for the consumer.
Term
Comparitive advantage
Definition
The ability of a country ot company to produce a particular good more efficiently than another country or company.
Term
Competition
Definition
The contest between businesses to win customers.
Term
Consumers
Definition
Person who usses good and sevices.
Term
Cooperatives
Definition
Organization that is owned and operated by its members.
Term
Corporations
Definition
Company that is registered by a stateand operates apart from its owners.
Term
Credit Unions
Definition

Not-For-Profit banks set up by organizations for their customers to use.

 

Term
Currency
Definition
Another name for money.
Term
Depression
Definition
A deep recession that effects the entire economy and lasts for several years.
Term
Dividend
Definition
A share of profits given to stockholders.
Term
Entrepreneur
Definition

A person who recognizes a business opportunity,testing it in the market and gathering the resources necessary to start and run a business.

 

Term
Entry-level position
Definition
Job suitable for a worker who is new to a job,field,or subject.
Term
e-tail
Definition
Electronic tickets
Term
Ethics
Definition
Moral principles by which people conduct themselves personally,socially,or professionally.
Term
E-Workforce
Definition
People who work with computers while doing business.
Term
Exchange Rate
Definition
The price at which one currency can buy another currency.
Term
Factors of Production
Definition
All the economic resources necessary to produce a society's good and services.
Term
Federal Reserve
Definition
The central bank of the United States.
Term
Finance Companies
Definition
Financial institutions that offer short-term loans to businesses and consumers,but at much higher interest rates than banks charge.
Term
Financial institutions
Definition
A firm that manages money.
Term
Franchise
Definition
Contractual agreement to use the name and sell the products or servies of a company in a designated geographic area.
Term
Gross domestic product (GDP)
Definition
The total value of the goods and services produced in a country in a given year.
Term
Goods
Definition
Physical products.
Term
Internet
Definition
A global computer network that connects many computer network to allow information to flow freely around the world.
Term
Labor
Definition
Human activity that provides goods or services in an economy.
Term
Leadership
Definition
Taking a company and its employees in a direction based upon a vision.
Term
Local Taxes
Definition
Taxes that are taken out from your city or state.
Term
Market Economy
Definition
An economic system in which economic decisions are made in the marketplace,where buyers and sellers meet to exchange goods and services, usually for money.
Term
Market Research
Definition
The gathering and analysis of information on the size, location, and makeup of a product market.
Term
Medium of exchange
Definition
Intermediate in qualilty, quality,position, size, or degree.
Term
Mixed Economy
Definition
A combination of a market economy and a command economy.
Term
Money
Definition
A standard of value and a means of exchange or payment.
Term
Non-Profit Organization
Definition
A type of business that focuses on providing a services rather than making a profit.
Term
Partnership
Definition
A business owned by two or more people who shares its risks and rewards.
Term
Patents
Definition
A legal grant for the sole right to own an invention.
Term
Privatization
Definition
Hiring a business to offer a public good or service.
Term
Processed goods
Definition
A good that has been processed and aprroved the FDA.
Term
Public Goods
Definition
A good that a public has and is a good one to have and keep.
Term
Public wants
Definition
A good that the public wants and sometiimes is something that is needed.
Term
Recovery
Definition
A rise in business activity after a recession or depression.
Term
Resources
Definition
Items that people can use to make or obtain what they need or want.
Term
Saving and Loans
Definition
Financial institutions that hole cutomers' funds in interest-bearing accounts and invest mainly in mortage loans.
Term
Services
Definition
 Tasks that businesses perform for consumers.
Term
Small Business
Definition
An independantly owned business that usually has the owner as its manager.
Term
Sole Proprietorship
Definition
is a type of business entity which legally has no separate existence from its owner.
Term
Specialize
Definition
to pursue some special line of study, work, etc.; have a specialty
Term
Standard of living
Definition
 A grade of level of subsisence and comfort in everyday life enjoyed by a community, class, or indivdual.
Term
Tax Break
Definition
A tax deduction that is granted in order to encourage a particluar type of commerical activity.
Term
Trade
Definition
The act of buying or selling good of something.
Term
Trade Deficit
Definition
The  condition that exists when the value of what a country imports exceeds the value of what it exports; also called an unfavorable
Term
Trade disputes
Definition
Occurs when a nation puts barriers on trading paricular item with another country.
Term
Trade restrictions
Definition
countiers do not always want to trade with another country.
Term
Trade surplus
Definition
A country exports more than it imports.
Term
Transfer payments
Definition
Governement expense that is provided to help people.
Term
Triangle shirtwaist factory
Definition
Company in New York City that killer 146 people.
Term
Virtual business
Definition
 A business that operates online.
Term
World Trade
Definition
Is the exchange of good across the international boundaries.
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