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principles of buisness
Terms in this set (39)
basic economic problem
mismatch of unlimited wants and needs with limited economic resources
items brought from other countries
things we must have to survive
the blending of four marketing elements- product, place, and promotion
the value of the next best alternative that you were not able to choose
the point where supply and demand meet on a graph
a business owned by a single person
amount available to businesses after all costs and expenses have paid
non-paid promotional communication presented by media rather that by the buisness
money, tools, equipment, and buildings used to produce goods and services
things we would like to have but do not need for survival
intermediaries between manufacturers and retailers
items sold to other countries
a situation where a country can produce a good or service at a lower cost than countries
completely prohibiting the import or export of a product
a specific group of consumers who have similar wants and needs
a business that grows products or takes raw materials from nature
quantity consumers are willing to buy
recurrent periods during which the nation's economy moves in and out of recession and recovery phases
occurs when a country buys more than it sells
a business with an unlimited number of shareholders
G D P
the total value of all final goods and services produced in a country in one year
a tax that a government places on a certain imported products
economy in which the resources are owned and controlled by the government
economy in which the resources are owned and controlled by the people of the country
right to use a company name or business process in a specific way
take a nap
which of the following is NOT every citizen's economic responsibility?
A. take a nap
B. pay taxes
D.obey the law
the United States government forbids the sale of certain items to other countries with a
which pricing strategy sets a low price in order to gain market share?
general motors & dell computers assemble and build products. What type of business are they?
which of the following is NOT one of the 7 marketing functions?
if demand for a product increases, but supply stays the same, what typically happens to the price?
which of the 4 P's is used to inform, persuade, or remind customers to buy a product?
evaluation tax payments
which of the following is NOT a commonly used method to carry out marketing research?
A. holding a focus group
B. making observations
C. evaluation tax payments
Which one of these is NOT a phase of the business cycle?
which of the following is NOT one of the 4 P's?
business to consumer
what does B2C stand for?
which of the following is NOT a need?
a___ is a business owned by 2 people who have written agreement to share profits
THIS SET IS OFTEN IN FOLDERS WITH...
Buisness Wk 1&2
Intro to Business: Final
Chapter 1 - 10 Principles
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