You and a Friend Want to Open New Pet Grooming

question 90

Multiple Choice

You and a friend want to open new pet grooming and pet services shop. Once established, you intend to open a second store in a larger town 20 miles away. If store number two is a success, you plan to start franchising your company.
-Besides calculating the amount of funds that your business needs for a specified period of time,your financial plan should include a(n) _____.

• A)business plan
• B)detailed strategy for getting needed funds
• C)marketing plan
• D)employee-payment schedule

Recognize the role of price floors in creating surpluses and their effects on market dynamics.

Explain the rationale behind government policies of price control for political or social objectives.

Assess the formation and impact of black markets as a response to binding price controls.

Distinguish between binding and non-binding price controls and their relevance to market outcomes.

---

Definitions:

Statement of Changes

Short for the Statement of Changes in Equity; it details the movements in owners' equity over a specific period.