Gross Domestic Product ( to measure the size of a country’s economy)

The increase in price over time

the overall economy’s activity goes down

Make products

sell the good that manufarurers made

provides services to others

Identifying the needs and wants of costumers

management of money

the wealth and resources of a country

Product: Features, looks, Prototype, Slogan Price: Positioning ( the value low, medium, premium) Place: channel of disrabution ( direct and indirect) ProMotion: Advertising/ Sales Promotion/PR publicity

things that you need to survive

things that make your life better

Digital ( videos, websites, add) Traditional (TVs, newspapers,radios)

Consumer: A person who uses the products Competitor: A company that does something different to differentiate themselves

Sole proprietorship: 1 person owns tha business Partnership: 2 or more people own the business Corporation: shareholders own the business

Physiological: Food and Water Safety: Money and hospitals Love/Belonging: Family and Friends Esteem: Confident and deodorant Self Actualization: morality and creativity

Job description Advertising Filter Resume Interview Employee payment Train and Development help managers in making assessments and evaluations

High - CEO and VP. MIDDLE - Managers and Directors. LOW - Suppervisors and Assistant managers.

Plan - strategies Organize - assign tasks Control - monitor performance Lead and Motivate - sell your vision and motivate employees

(Prinicple x interest rate) ^ number of periods

F=P*(1+i)^n

Contest and events that are meant to increase sales

Social Media accounts free publicity and blogs

Things you own

Things you owe

The money you made

The money you spent

A portion of a companies assets that the owner can claim

The profit of a company after subtracting the expenses

How much the company or business is worth after assets - liabilities

The income that the business makes after deductions

The day the business starts and ends

To keep systematic records of all business actions

Fundemental and Managerial

The skills to run a business

Records of the business to help business owners in making better decisions for the company

documents that show the financial position of a business

General accepted accounting principles

- business entity principle (keep personal finance separate from business finance - time period principle ( don't choose a weird timeframe - consistancy principle ( be consistent with your accounting - cost principle ( with cost you think it should be)

Assets that last less than five years (accounts receivable)

Resources that are utilized for long time (property and trades)

You don't get enough time to have the debt (rent)

you have lots of time to lay your debt (equipment and machinery)

account receivable meaning that the costumer owes money

the business owes money

The money you have left after paying all your debt

The amount and individual income left for spending

allows you to feel secure

Allows you to protect the value of your money

Have/ they owe/ own

Bill/ mortgage/ credit card/ line of credit

Sold

Spent/ paid/ payed bills

CONSUMER PRICE INDEX ( they measure the payment for grocery after interest rates

Investors: to know how the business is doing Government: to know the tax that business pays Business Owner: to make business better Lender and Banks: to know how risky it would be to lend money

companies revenue, expenses, and profit

Assets, Liabilities, and net worth

When you pay an initial payment to have the right to use a brand name

-Recurring payment of a percentage of sales given to someone in return or for using their brand name

something in value that the bank keeps in case you don't pay your debt

the tax you have to pay for percentage of sales

percentage extra on things you buy

To protect foreign goods

the common pattern of spending more money as you earn more