What does B2B stand for?
AnswerBusiness to business
B2B describes companies that sell goods or services to other businesses rather than to consumers.
Business · Facts & stats
Business facts & stats
7 fact-checked facts about business, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
In a simple market, what tends to happen to price when demand rises and supply stays the same?
AnswerPrice tends to rise
By the law of supply and demand, more buyers chasing the same supply pushes prices up.
Going deeper
What is a franchise?
AnswerA licence to run a business using another company's brand and system
A franchisee pays to operate under a franchisor's name, methods and support.
Which Italian mathematician published an early description of double-entry bookkeeping in 1494?
AnswerLuca Pacioli
Pacioli described double-entry bookkeeping in his 1494 book Summa de arithmetica.
What does 'wholesale' mean?
AnswerSelling goods in large quantities, usually to retailers
Wholesalers buy in bulk and sell on to retailers, who then sell to consumers.
Expert level
Which company, founded in 1602, is often credited as the first to issue publicly traded shares?
AnswerThe Dutch East India Company (VOC)
The VOC sold shares to the public in 1602, and they were traded in Amsterdam.
What is gross margin?
AnswerRevenue minus cost of goods sold, as a share of revenue
Gross margin shows how much of each sale remains after the direct cost of making the product.
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