The ability to find and allocate available resources to improve a product or service is an example of: 

The first thing Barry does when he opens the home improvement store each day is to switch on the lighted "open" sign. Today, the sign does not come on. How should Barry most efficiently determine if the problem is with the power company or the sign itself? 

Paul feels the schedule posted at his place of employment is confusing. He creates a new form and presents it to his manager, sharing his thoughts on how it could improve the current schedule. This shows Paul's

Carla believes she is more productive when she listens to music at work, but her boss does not allow it. She should

Being a responsible citizen means you should

While working as a restaurant cashier, your friends come in to eat dinner. You should

As an employee, employers assess your work ethic based on your

(Only pick one)

When resolving conflict, the main goal is to

Which of the following BEST describes contributing to the success of any team? 

___ Allows you the opportunity to define your company's goals, ethics, culture, and norms for decision making. 

The sometimes predictable fluctuations in economic activity of one company, such as employment and production, are referred to as

Social networking websites can reveal a great deal about an individual. What types of items should you avoid putting on your social networking site? 

A salesperson receives 10% commission on his/her total sales. They sell $1,500.00 worth of merchandise. How much commission did he/she receive? 

The hourly employees in your department worked a total of 7,350 hours this week. The wage for each person is $10.75 per hour. What is the total payroll for your department this week? 

How we communicate is often just as important as what we are trying to say. Avoiding using slang in the workplace is an example of understanding the skill of

Comprehending your own interests, abilities, values, attitudes and personality traits.

Terry's supervisor showed him some steps he could take in order to process customers' orders faster. The supervisor's suggestions are an example of 

After Mike prepared his job resume, he asked his teacher to look at it and make suggestions. Mike was asking his teacher to provide some

Suzie is not happy with her job because her co-workers are always telling her that she doesn't do her fair share of work. Suzie's feelings are the result of 

Jim wants to become the supervisor of his department. Jim's goal is an example of a ____ goal. 

An organized effort to produce and/or distribute goods/service. 

The connecting link between a business and their consumers. 

Type of business that earns just enough money to support their mission. 

Activities are geared toward satisfying consumer wants/needs and meeting company goals in an effort to make a profit. 

Marketing function that involves moving, handling, and storing goods on the way from producer to consumer. 

The combination of the 5 P's of marketing is the 

Element of the marketing mix that involves the goods/services/images/ideas a business will offer its customers. 

Customer orientation, company commitment and company goals are elements of 

Clearly stated ___________- goals give a company direction. 

A marketing plan of action to achieve goals/objectives of a company is known as a marketing ____. 

A customer or potential customer for a product or service is a 

Using one product with one promotion, distribution, and pricing strategy aimed at an entire market.

The process of dividing the total market into groups of consumers with similar characteristics. 

Segmenting a market based on location.

A business owned by one person. 

Business form where stock is owned by stockholders who share profits. 

Government tries to protect competition by

Which of the following regulatory agencies would be concerned with price fixing and unfair competition. 

Which of the following is a positive effect of government regulation? 

Two main sources of revenue used to pay the costs on government regulation are 

The possibility of loss or failure. 

The main reason people are willing to face possible business risk is to 

The type of business risk that means the possibility of loss or no loss is ____ risk

Process of starting and managing your own business. 

The study of how to meet unlimited wants with limited resources. 

Anything that comes from nature is a ____ resource. 

A product that is useful to a consumer is said to have

When a business changes the form of a resource to make it useful it is creating _____ utility

When ownership of a product is transferred from one seller to a buyer, _______ utility is created. 

In a private enterprise system, businesses strive to supply goods and services in direct proportion to 

In a Private Enterprise system  the interaction of supply and demand primarily determines

In a privarte enterprise system, consumers have a variety of products from which to choose due to 

An indication of how changes in price will affect changes in the amounts demanded and supplied is know as

The money businesses must pay for the goods they sell or raw materials from whcih they make goods to sell is an expense called. 

To compute net profit- the True profit- which of the following is subtracted from gross profit? 

The rivalry between two or more businesses to attract scarce customer dollars is called

The way in which a country solves its economic problems is 

An economic system based on government planning and decision-making with limited consumer influence

In a Communist economic system, the three basic economic questions are answered by

In a Market Economy, which actions do consumers take that determines what will be produced? 

A measure of efficiency. The amount of output per unit of input. 

The inputs that go into the production of goods. 

This is created when there is a gap between what is needed and resources available

What are the 3 economic questions every economic system must answer

Productive acts that satisfy economic wants

The heart of economics is 

A group of related product items.

Each individual good, service, or idea that a business offers for sale.

Determining which products consumers want and need and then designing products/services to meet those wants and needs.

The working model of a product is built, tested and modified.

The introduction, growth, maturity, decline and elimination are the

Product Promotion is used to persuade consumers to buy a particular good or service

Secondary promotion aims to stimulate demand for an entire class of goods/services

Public service is used to inform consumers about non controversial issues that are in the public’s best interest

Advertising is the most effective combination, or blend, of the marketing communication channels that a business uses to send its messages to consumers

Promotional Mix is any paid form of nonpersonal presentation of ideas, goods or services

Personal selling is the form of promotion that uses planned, personalized communication in order to influence purchase decisions and to ensure satisfaction

Sales promotion  are activities other than advertising, personal selling, and publicity which stimulate purchases

Common Advertising Objectives are: . To attract attention, to arouse interest, to create desire and to stimulate action

The name, symbol, letter or combination of these used to identify a product and distinguish it from competitors.

Containers and wrapping material that protect, contain, identify, promote, and facilitate the use of a product.