FM 116 Midterm Exam Questions and Complete Solutions
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Course
FM 116
Institution
FM 116
Stock holder Owner of a corporation.
Revenue (sales) The money coming into a company through selling the products or services.
Joint ventures An agreement between two or more companies where they pool their resources for the purpose of accomplishing a specific task (a new project or any other bus...
FM 116 Midterm Exam Questions and
Complete Solutions
Stock holder ✅Owner of a corporation.
Revenue (sales) ✅The money coming into a company through selling the products or
services.
Joint ventures ✅An agreement between two or more companies where they pool their
resources for the purpose of accomplishing a specific task (a new project or any other
business activity). Each of the participants is responsible for profits, losses and costs
associated with it.
Merger ✅Two formerly independent business entities combine to form a new
organization.
Acquisition ✅One firm buys (acquires) another.
Liability ✅Claims that outsiders have against a firm's or person's assets, or being
responsible for something, especially by law.
Small Business Administration (SBA) ✅An agency of the Federal government
designed to maintain and strengthen the nation's economy by aiding, counseling,
assisting and protecting the interests of small businesses.
Gross Domestic Product (GDP) ✅The monetary value of all the finished goods and
services produced within a country's borders in a specific time period. Shows how well
the economy is doing.
Consumer price index (CPI) ✅Measures the change in the weighted-average prices of
goods and services that consumer buys over time.
Demographics ✅The measurable characteristics of a population. (Population size and
density, age, gender, race, education, and income)
Demand curve ✅The quantity of products that consumers are willing to buy at different
market prices.
Equilibrium ✅Associated with the point at which the quantity demanded equals the
quantity supplied.
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