Marketing/Advertising
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Why is the United States known as a consumer-oriented society?
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Consumers decide the fate of products and businesses, as well as the prices of goods and services sold in the United States
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Disposable Income
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income (after taxes) that is available to you for saving or spending
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When demand exceeds supply, ____________ of products occur.
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shortages
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When a German's hand is dirty, he will
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offer an elbow or forearm
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When Italians place a finger under the eye and push down slightly on the skin, it means they
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think someone's remarks are smart or clever
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If you give a gift in Sri Lanka, it is proper to
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use both hands
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It is important when writing that you know your purpose, your subject, and your
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reader
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Things that get in the way of effective listening are called
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blocks
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Marketing Mix
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product, price, place, promotion
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Market
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All potential customers who share common needs and wants, and who have the ability and willingness to buy the product
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GATT, NAFTA, and the EU are examples of
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trade agreements and alliances
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Price competition focuses on the sale price of _____
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product
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Businesses generally expand their operations during two phases of the business cycle
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recovery and prosperity
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In Ethiopia, grandchildren greet their grandparents with a kiss on the
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knee
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Free enterprise system
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individuals are encouraged to start and operate their own business
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When do shortages of goods occur?
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When demand exceeds supply
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What does the law of demand state?
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Demand goes up when prices go down
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In a market economy, _____________ determine the prices and quantities of goods and services produced
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supply and demand
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Calculating and producing a payroll
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software
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Skills that help you read with more understanding include focusing your mind, improving your vocabulary, and
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knowing the purpose of your reading
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Productivity (output per worker hour) of a bicycle manufacturing plant with 600 employees who work 40 hours a week for 50 weeks of the year and produce 2,400,000 bicycles during the year is
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2
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At present, the U.S. balance of trade can best be described as
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negative balance of trade
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The trend in business writing is toward
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a direct, conversational style
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Because different countries possess unique resources and capabilities, they
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are economically interdependent
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The country where you will only find beefless McDonald's hamburgers is
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India
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Tom is buying a new Taurus sedan for $11,989.67. He must leave a 10% deposit on the car. How much should he leave with the dealer?
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$1,198.97
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The government answers all three economic questions in a
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command economy that follows a communist model
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Partnerships made when direct investment in a foreign country can occur only with a domestic partner are called
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joint ventures.
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Licensed specialists who know the applicable laws, procedures, and tariffs of international trade are called
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customs brokers
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Consumers, producers, workers, and nations as a whole
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benefit from international trade
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Wrapping gifts is important in many countries, so you must be sure the wrapping paper is of high quality and the correct color. In Japan and India the one color you would not use is
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white
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The economic measurement used by the United States and most other industrialized nations to keep track of total production output is
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GDP
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When speaking on the telephone, enunciate clearly, use your most pleasant tone, and
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speak loudly enough to be heard
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When planning a marketing strategy for the sale of a product in foreign country, businesses that do not change anything about their product or their promotions are said to be practicing a
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globalization strategy
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In a pure market economy, there is ______ government involvement in economic decisions
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no
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In one serving of Quaker oatmeal, 9% of the 156 calories is from fat. How many calories come from fat?
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14
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Reproducing an image from the computer onto paper
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hardware
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Brazilians find it offensive when people speak to them in
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Spanish
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People usually speak in order to inform, to entertain, and to
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persuade
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Demographics
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refers to statistics that describe a population in terms of personal characteristics. These include age, gender, income, ethnic background, education, and occupation.
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Market segmentation
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a way of analyzing a market by specific characteristics in order to create a target market
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Geographics
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refers to segmentation of the market based on where people live
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Debbie paid $49.95 for a dress that had been marked down 50%. What was the original price of the dress?
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$99.90
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Sorting large quantities of related data
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software
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When there is no competition and one firm controls the market for a given product, a _________ exists
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monopoly
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The four basic principles of a free enterprise system are
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freedom of ownership, competition, risk, profit
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Profit
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The money earned from conducting business after all costs and expenses have been paid.
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You would most likely find Campbell's Watercress & Duck Gizzard Soup in
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China
