Extra Credit Quiz 2

A fixed, regular employer PAYMENT for professional or office work, usually MONTHLY or YEARLY.

• Salary

• Wage

It refers to a product sold GLOBALLY but adjusted to accommodate users in a LOCAL market

• Globalisation

• Glocalisation

An IDEA for a new product, tested with target consumers before the product is developed.

• Product Feature

• Product Concept

• Packaging

Money paid to manual workers (per hour, day, or week).

• Salary

• Wages

• Perks

• Benefits

The situation in which there is only ONE product seller.

• Slogan

• Cartel

• Monopoly

• Market Leader

Factors that cause the average cost of producing something to fall as output increases

• Economies of Scale

• Innovation

• Oligopoly

To unite, combine, amalgamate, integrate, or join together

• Monopoly

• Merger

• A Raid

• Growth

A factor that makes you superior to competitors in a certain respect.

• Competition

• Monopoly

• Market Share

• Differential Advantage

The fear that you might lose your job

• Job Insecurity

• Tenure

• Downsizing

• Synergy

Taxes charged on imports.

• Quota

• Market Share

• Tariffs

• Market Leader