ESB V2 Final

Josie is a teenage girl who wants to start a jewelry-making business. Her target market is females, ages 10-14. What price should she charge per necklace that she sells?

• Between one and ten dollars

• Between ten and twenty dollars

• Between twenty and thirty dollars

• Between thirty and forty dollars

Ellie owns a tumbling gym. She compiled a list of nearby competitors. Classify the following business as either direct or indirect competition:

Cheerleading gym

• Direct competition

• Indirect competition

Tom runs a car repair shop with dependable employees. Recently he has seen an increase in customers needing work done. He knows that he needs to replace one of the lift machines but is struggling to finance it. There are other repair shops in the neighborhood. Identify the SWOT analysis element below:

Dependable employees

• Strength

• Opportunity

• Threat

• Weakness

A key example of a __________ service many companies use is a software as a service (SaaS) platform. [Production Options]

A(n) _________________ refers to the net profit the company wants to make from the sale and is usually represented using a percentage. [Selling Price]

A(n) ________________ is a financial report that shows a company's assets, liabilities, and equity for a specific period. [Basic Financial Statements]

• balance sheet

• bank plan

• pitch deck

• assest list

The ______________ point is the amount of revenue required to cover expenses.

• profit

• break even

• liability

• balance

The formula to determine the selling price is: (cost x desired profit margin) + cost. Dividing the percentage by 100 converts the desired profit margin to a decimal.

Ben owns a shoe store. He has a new line of limited-edition running shoes that he will be selling in his store soon. The cost of manufacturing the shoes was $18 per pair, and he wants to make a 20% profit on each pair he sells. What is Ben’s selling price?

The formula to determine the selling price is: (cost x desired profit margin) + cost. Dividing the percentage by 100 converts the desired profit margin to a decimal.

Adam owns a restaurant. A new dish is being added to the restaurant’s menu. The cost of making the dish is $6.75, and he wants to make a 33% profit on each dish he sells. What is Adam’s selling price?

Subtracting liabilities from assets calculates equity. A company’s balance sheet shows assets, liabilities, and equity.

Ashley sells cars. She has $26,000 in cash, $34,000 in inventory, a $4,600 credit card balance, and $7,900 in long-term debt. What is Ashley’s

equity?