Eco 9 principles

Card Set Information

Author:
xryan27x
ID:
133689
Filename:
Eco 9 principles
Updated:
2012-02-08 01:00:25
Tags:
eco
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Description:
eco
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The flashcards below were created by user xryan27x on FreezingBlue Flashcards. What would you like to do?


  1. What is every business in business for?
    Provide a product or service
  2. Most difficult thing a business has to do?
    Convince customer to buy
  3. How do you price a product or service?
    Whatever the customer is willing to pay
  4. What is the costliest item a business has?
    Employee
  5. What is the most valuable asset?
    Employee
  6. Most fundamental financial principle for any business?
    Cash in > cash out
  7. How does any business stay in business for long term?
    Differentiate
  8. What is quality?
    Smiley faces based on $$$
  9. Goal of any business?
    • Make money
    • Maximize profit or minimize loss

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