A "buy" decision that involves non-objective factors and can lead to "irrational" decisions based on....
...goods are inexpensive products that are purchased often and with little expenditure of time or effort.
...goods are expensive and rarely purchased. The consumer is usually unwilling to consider alternatives.
The group of products that a company makes available for sale, whether consumer, industrial or both, is known as the company's product...
if a firm's goal were to place a new product into the hands of as many consumers as quickly as possible, then the best pricing strategy would be .....
paid, nonpersonal communication used by an identified sponsor to inform an audience about a product.
an arrangement of advertisements in selected media to reach targeted audiences.
an independent company that provides some or all of a client firm's advertising needs.
An employee who detects and tries to put an end to a company's unethical, illegal, and/or socially irresponsible actions by publicizing them is referred to as a(n)
occurs when someone uses confidential information to gain from the purchase or sale of stocks
describe how an organization will achieve their purpose in the environments in which they conduct their business.
study of consumer needs and wants, and the ways in which sellers can best meet them
a market research technique using a questionnaire that is either mailed to individuals or used as the basis for telephone or personal interviews.
provides for the private ownership of the factors of production and also encourages entrepreneurship by offering profits as an incentive?
"Buyers will purchase (demand) more of a product as its price drops and less of a product as its price increases." This is referred to as...
the law of demand
The concept that producers will offer more of a product for sale as its price increases and less as its price decreases is known as...
the law of supply
philosophy that says that the government should not interfere in the economy, but should instead let business function without regulation according to its own "natural" laws
the economic condition characterized by widespread increased prices without increased purchasing power.
form of business is owned and usually operated by one person who is responsible for its debts
a business with two or more owners who share in the operation of the firm and are financially responsible for its debts
Top managers hired by the board of directors to run the corporation on a day-to-day basis are called
As more and more firms engage in international business, the world economy is fast becoming a single interdependent system; a process called
The total economic value of all products that a nation imports minus the total economic value of all products that it exports is called a country's
balance of trade
The rate at which the currency of one nation can be exchanged for that of another is called
The United States government forbids the importation of cigars from Cuba into the United States. This government order is known as a(n)
refers to ethical or unethical behaviors by a manager or employee of an organization
After Hurricane Andrew devastated South Florida, some retailers charged over $100 per sheet for plywood. This was an example of
Written commitments wherein companies formally acknowledge their intent to do business in an ethical manner are called
Codes of Ethics
The way in which a business tries to balance its commitments to groups and individuals in its social environment is called
why might a company decide not to conduct business internationally?
-no international demand for product
-product can't be adapted to fit means of market
how can companies promote ethical behavior?
-have a written code of ethics
-ethics training programs
-have an ethical hotline