DECA Summer 18 wk 2

A store's written policy concerning returns states that "Refunds will be issued when a receipt is presented; other returns will be given store credit." Mrs. Garcia, a regular customer, returns a product without a receipt, complains about the store's return policy, and is given a full refund even though she doesn't have a receipt. Another customer overhears the conversation and asks for a refund without a receipt, but the store denies that request. How would enforcing the return policy have a positive impact on the business?

• Ensure fair treatment of employees

• Reduce misunderstanding and ill will

• Eliminate consistent behavior

• Guide customers' actions and protect their decisions

Elizabeth has many ways of interacting with her favorite store. She can visit it in person and speak to an employee, check out the store's website online, receive one of its email newsletters, or look at its Facebook page. The ways Elizabeth interacts with the store are

• contact spots.

• touch points

• brand interactions.

• customer exchanges.

Goods and services that are purchased by producers for resale, to make other goods and services, and/or to use in operating a business are known as __________ goods and services.

• convenience

• shopping

• specialty

• industrial

Which of the following is an example of a capital good:

• A hot dog purchased at the stadium

• A printing press purchased by a newspaper

• A cap and gown rented for graduation

• A shirt monogrammed with your initials

If the money supply is low and the demand for money is high, interest rates on loans will

• increase, then decrease

• decrease

• stay about the same

• increase

A business that produces a product should be socially responsible to the __________ of the product.

• producers

• providers

• endorsers

• users

A change in local conditions and government intervention are examples of __________ business risks.

• avoidable

• speculative

• pure

• unprofitable

Fracton Enterprises and Garland Manufacturing are identical businesses that are supplied by Alta Wholesale. Fracton provides a holiday party for its suppliers, while Garland does not. Because of the holiday party, Alta Wholesale charges Fracton less for its merchandise than it charges Garland for purchasing the same quantity of merchandise. Which government regulation of competition is Alta violating?

• Sherman Antitrust Act

• Clayton Act

• Robinson-Patman Act

• Celler-Kefauver Antimerger Act

The costs of government regulation of business are paid for through

• tariffs

• interest

• prices

• taxes

When you know your own emotions, you are demonstrating

• self-control

• self-awareness

• social relationships

• social restraint