Business Info and Terms Flashcards by Jamie Ezzell

Q

What is revenue?

A

Volume * Price

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Q

What is cost?

A

Fixed costs + Variable costs

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Q

What is profit?

A

Revenue - Cost

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Q

What is profit margin?

A

Profit / Revenue

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Q

What is return on investment?

A

Annual profit / Initial investment

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Q

What is breakeven?

A

Fixed cost / (Price - Variable cost)

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Q

What is EBITDA?

A

Earnings before interest, tax, depreciation, and amortization

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Q

What is the “price elasticity of demand”?

A

(% change in quantity) / (% change in price)

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Q

What is the “cross elasticity of demand”?

A

(% change in quanitity for good X) / (% change in price for good Y)

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Q

What is payback period?

A

(Cost of project) / (Annual cash inflows)

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Q

What is contribution margin?

A

(Price / Unit) - (Variable cost / Unit)

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Q

Population of the United States

A

328 million

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Q

Population of New York City

A

8.4 million

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Q

Population of Los Angeles

A

4.0 million

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Q

Population of Chicago

A

2.7 million

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Q

Population of World

A

7.7 billion

Q

Population of Europe

A

747.9 million

Q

Population of Asia

A

4.5 billion

Q

US Life expectancy

A

79 years

Q

US people per household

A

2.5 people

Q

US number of households

A

128 million

Q

US Median household income

A

$68 thousand

Q

US GDP

A

$21 trillion

Q

US GDP growth rate

A

2.2% (2019)

US effective corporate tax rate

21%

US Smartphone penetration

>80%

US percentage with bachelor's degree

36%

US Percentage of married adults

51%

US percentage under the age of 18

23%

US percentage over the age of 65

13%