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WorksheetsChapter 13 Quiz
Total questions: 10
Worksheet time: 5mins
By understanding your ______________, you can better adapt to the new things they bring to your industry and keep up demand for your business.
customers
investors
buyers
competition
Businesses that sell a similar product or service are your ____________
indirect competitors
direct competitors
main product
secondary product
Businesses that sell a different product or service, but that still fill the same customer need or want, are your ________
direct competitors
indirect competitors
secondary product
main product
_________ is the percentage of a target market population that is buying a particular product or service from your business.
Market share
Valuation
Moderation
Balance statement
The formula for market share is:
Total Sales * Total Market Size = Market Share Percentage
Total Sales + Total Market Size = Market Share Percentage
Total Sales - Total Market Size = Market Share Percentage
Total Sales ÷ Total Market Size = Market Share Percentage
The ________ economy is the flow of goods and services around the world.
global
national
command
market
__________ is a business activity in which goods and services leave a country to be sold to foreign consumers.
Importing
Exporting
Reporting
Deporting
___________________ is a business activity in which goods and services enter a country from foreign suppliers.
Importing
Exporting
Reporting
Deporting
A _____________ is a governmental restriction on international trade.
tarriff
quota
trade barrier
exchange rate
Fair trade is a policy encouraged by private organizations to ensure that small producers in developing nations earn sufficient profit on their exported goods to improve their working, environmental, and social conditions.
True
False
