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WorksheetsIntro to Business Vocab ch. 1&2
Total questions: 15
Worksheet time: 12mins
GATT stands for what?
General Agreed Turtle Tariffs
General Agreement on Tariffs and trade.
General Tariffs and trade agreement
Gosh Are Turtles Tubular
A recession is....?
A temporary economic decline
A time for kids to play after lunch
state of limited competition
level of comfort in everyday life
What is a Business Environment?
a tool used by the federal government
reduction of rates
a standard of health and happiness
collection of all internal and external factors
Define Equilibrium
A period when income or receipts exceed outlays or expenditures
a state in which opposing forces or influences are balanced
the standard of health, comfort, and happiness experienced by an individual or group.
business that is transacted by transferring data electronically, especially over the Internet.
What does FDIC stand for?
Federal Deposit Insurance Corp.
Fascinating Ducks in Interesting Clothes
Fundamentals for Deposits in Insurance Corps.
What is the definition of Demographics
resources that are the building blocks of the economy; they are what people use to produce goods and services.
a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.
the statistical data of a population, especially those showing average age, income, education, etc.
Oligopoly is what?
the branch of knowledge concerned with the production, consumption, and transfer of wealth
a state of limited competition, in which a market is shared by a small number of producers or sellers
the standard of health, comfort, and happiness experienced by an individual or group.
a state in which opposing forces or influences are balanced
What is speed to market?
the amount of time it takes for a organization to launch a product or services and make it available to the customer.
business that is transacted by transferring data electronically, especially over the Internet.
the monetary surplus left to a producer or employer after deducting wages, rent, cost of raw materials, etc.:
the minimum interest rate set by the Federal Reserve for lending to other banks.
Macroeconomics is..?
Is when expenses exceed revenue and indicate the financial health of a country
the part of economics concerned with single factors and the effects of individual decisions.
the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
What is a budget surplus?
Is when expenses exceed revenue and indicate the financial health of a country
A period when income or receipts exceed outlays or expenditures
the monetary surplus left to a producer or employer after deducting wages, rent, cost of raw materials, etc.:
Define 'Factors of production'
resources that are the building blocks of the economy; they are what people use to produce goods and services.
the standard of health, comfort, and happiness experienced by an individual or group.
are a tool used by the Federal Reserve to increase or decrease money supply in the economy and influence interest rates
What is profit
the branch of knowledge concerned with the production, consumption, and transfer of wealth
the monetary surplus left to a producer or employer after deducting wages, rent, cost of raw materials, etc.
the amount of time it takes for a organization to launch a product or services and make it available to the customer.
The definition of a Demand Curve is?
a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.
a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period
a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
A supply curve is..?
a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.
the statistical data of a population, especially those showing average age, income, education, etc.
a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period
The definition for GATT is..?
The Federal Deposit Insurance Corporation is one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions.
is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.
international trade free from protective duties and subject only to such tariffs as are needed for revenue.
