businesses not associated with government agencies

a business that sells its products only in its own country

sells its products in more than one country

obtain goods from manufacturers and resell them to the consumer

consists of a group of establishments primarily engaged on producing or handling the same product or group of products or in rendering the same service

buy goods from wholesalers or directly from manufacturers and resell them to the consumer

seeks to make a profit from its operations

government-financed agencies

The process of creating, expanding, manufacturing, or improving on goods and services

_________ of goods occur when supply exceeds demands.

Which is NOT one of the five “rights’ of marketing?

Profit is the _________ for taking the risk of starting a business.

__________ is exclusive control over a product or the means of producing it.

A company can charge whatever they want without __________.

The process of creating, expanding, manufacturing, or improving on goods and services is

Businesses not associated with government agencies are part of the __________.

Competition is:

A __________ involves anything that is authored by an individual.

__________ is a business function that involves money management.

__________ is the discipline that keeps track of a company’s financial situation.

In a SWOT analysis, look for __________.

A type of business that sells its products in more than one country is considered:

When a company wants to use another’s name, symbol, creative work, or product:

Which of the following not intellectual property?

A small business is one that is operated by only one or a few individuals.

Competition is an essential part of a free enterprise system.

Non-price competition focuses on the sale price of a product.

When a company is doing well, stock prices generally decrease because less people want to buy that stock.

Competition is the struggle for customers.

One of the easiest ways to describe a business is by its size.

The five functions of a business are production, procurement, marketing, management, and finance.

A licensing agreement does not protect the originators name and products.

Government financed agencies are not part of the private sector.

In non-price competition, businesses choose to compete on the basis of factors that are not related to price.

Business risk is the potential for gain or increase.

Equilibrium is when the amount of a product being supplied is equal to the amount being demanded.

The U.S. government has not allowed monopolies to exist at all.

A balance sheet reports a company’s assets, liabilities, and owners equity.

Intellectual property rights are protected in a free enterprise system.

In a market-oriented economy, supply and demand determines the prices and quantities of goods and services produced.

Profitable businesses hire more people.

Mom and Pop operations are NEVER small businesses.

Profit is the money earned from conducting business after all costs and expenses have been paid.

A free enterprise system encourages individuals to start and operate their own businesses in a competitive system.

Up to eighty-five percent of new products fail in the first year.

Wholesalers and retailers buy goods from other wholesalers to resell them to the consumer.

When the amount of a product being supplied is equal to the amount being demanded, equilibrium exists.

There are two types of competition, price and non-price competition.

The five “rights” of merchandising are goods, time, place, price, and amount.