KOSSA--Academic and Employability--Practice Questions
Terms in this set (56)
What are goods sold to another country?
What are products bought from another country?
What is a business owned by one person who makes ALL of the decisions?
In the futures market, what is a futures price for a commodity?
The quoted price for a commodity to be delivered in a pre-determined month.
The corporation pays __________ to the shareholders to distribute profits.
The laws of ___________ always govern the market price.
Supply and demand
What is an advantage of technology?
Technology makes work easier.
What is the interest amount for $ 2,000 at 5 % for one year?
What is a listing of assets, liabilities, and net worth of a business?
What is a method of distributing the cost of capital items over the life of the asset?
Costs that are constant regardless of level of production. Examples include mortgage payment on the building.
Which is true of the straight-line method of depreciation?
It provides equal depreciation during each year of the asset's useful life.
What is the purpose of the North American Free Trade Agreement?
To remove most barriers of trade and investment among the U.S. , Canada , and Mexico.
What is a form of business where two or more people go into business together?
What are comparisons of two quantities?
What are items owned by the business and have value?
Including livestock in a farm business helps to _____the risks involved in farming over more enterprises?
What are the three essential elements of marketing program
Price,Quality ,and Service
What is considered to be a fair profit?
What is an exhibit of merchandise ?
What is the amount of money received after deducting all project costs ?
What is continued contact with the customer to ensure they are happy with the service they are receiving called?
What is the amount of money that goes in and out of a business?
What is a brief statement that describes the purpose of a business and the customers it serves?
What is the process of pricing products and services?
Who is an agent that buys flowers and sells them to whole sellers and retailers?
What is one component of visual merchandising that attract attention , create interest ,and motivate the customer to want to buy the items viewed?
What are companies that ship products to companies in other countries ?
Describing a product in order to entice the customer to buy it is known as which of the following ?
One rose for $2.00 or three for $5.00 would be an example of this concept ?
Multiple unit pricing
What is ratio mark-up ?
A method for pricing design work
What is given if there is more than one company that is competing for the client's business?
What are contingency costs?
Insurance against unforeseen problems like uncooperative weather, that would detain the completion of the landscape?
How would business costs including plant materials , pots, chemicals, and growing media be classified?
Direct materials cost
What is profit?
The money left after all the costs of the operation is complete
__________________ is the first step in describing what a person wants to do with their life ?
Unlike estimates ,a _______ cannot be changed .
______costs are incurred for growing the crop and total costs increases as production increases .They may include the plants , pots, fertilizer ,chemicals , labor, and growing media?
What is generally the most expensive advertising medium?
____ costs are the costs incurred whether or not crop produced . These included depreciation , insurance , interest , repairs , and taxes?
What is overhead cost ?
The fixed costs of running a business
What is an approximate cost for the work to be done that is presented to the client?
How is marketing defined?
Providing customers with the horticulture products and services they want
What is a list of all the details needed to install the landscape plan accurately ?
What is the cost summation?
the sum of the labor , materials , overhead ,and contingency costs of a project
What is the parent company or entity that sells the right to use its name and sells its products?
What is the practice of investigating what a customer wants or needs?
The combination of the four factors including product,place, price, and promotion used in trying to reach target customers is known as a ____________.
Why would someone compare past and present performance of the same company or compare business performance against the performance of other businesses in the same industry ?
To measure the performance of a business
What is an exchange of goods or services at a mutually agreed upon price?
What is the equity of the business owners?
What is the main purpose of packaging?
Protect the product
Gathering , recording ,and analyzing data related to products and consumers is known as ______________.
What is the process of selling a product and providing a service the consumer wants or needs?
Which of the following is how much money a person pays to purchase a product or service?
What is a form used for calculating prices?