Sports & Entertainment Mktg - Ch. 2

The amount of money remaining from revenues after all expenses are paid is called:

• Budget

• Profit

• Return on Investment

• Income Statement

__________ is the study of how goods and services are produced, distributed, and consumed.

• Economics

• Ethics

• Business

• Marketing Information

Macroeconomics is defined as the study of:

• Sports and Entertainment marketing

• Relationships between individual consumers & producers

• Economics of the entire society

• None of the above

The amount of satisfaction a person receives from the consumption of a product or service is called:

• Economic Satisfaction

• Economics

• Economic Utility

• All of the above

What are the four different types of utility?

• Form, Time, Possession, and Consumption

• Time, Place, Consumption, and Sales

• Consumption, Sales, Place, and Form

• Form, Time, Place, and Possession

T or F: Revenue is the money a business receives from the sales of goods & services

• True

• False

Profit motive means making decisions to use resources in ways that result in the greatest

• Sales

• Profits

• Purchases

• Revenues

An employee stealing supplies from a business is an example of which category of risk?

• Economic risk

• Controllable risk

• Human risk

• Natural risk

T or F: Speculative risk is when an event occurs that results only in a loss

• True

• False

You slip on water in a store & there is no sign saying "wet floor". This makes the store:

• Liable

• Guilty

• Compliant

• None of the above