FBLA Business Concepts

A bundle of physical, service, and symbolic attributes designed to satisfy customer wants is called...

• Place, product, price, and promotion
• A product
• Customer complaints
• Economics

A business plan can be useful to an entrepreneur and _____________

• The potential investors who may finance the new business.
• Records a purchase
• Stockholders
• Agencies that collect information to establish your credit rating

A business transaction occurs each time a business __________.

• Prime rate
• Records a purchase
• Equal Employment Opportunity Commission
• Economics

A labor union's major decisions are made by

• Impulse buying

• Exports

• Personal resources

• Union Members

A prolonged rise in the level of prices for goods and services is ____________.

• Inflation
• Workmen's compensation
• Wants
• Convenience goods

A tax added to the price of goods and services at the time of purchase is the __________.

• General sales tax
• Place, product, price, and promotion
• Corporation
• Personal resources

About 55% of the federal government's revenue comes from ____________.

• Impulse buying
• Income tax
• General sales tax
• Personal resources

Assets are defined as _________.

• Everything company owes
• Recession
• Sole proprietorships
• A product

Business and financial support positions require employees to have __________.

• The assets, liabilities and owner's equity accounts
• Basic skills, organizational skills and experience with a variety of software
• Liabilities
• Economics

Consumers buy many items on credit because ________.

• Credit enables them to use items sooner
• Agencies that collect information to establish your credit rating
• A product
• Customer complaints