Economics
What does GDP stand for?
Gross domestic product
This term is what people buy that represents ownership or equity in a company?
Stock
A person who buys a product or service is called a . . .
Consumer/Customer
What are the 4 P’s of marketing
Product, Price, Placement, Promotion
What does MBLA stand for?
Marketing & Business Leadership Academy
The limited availability of resources compared to society’s unlimited human wants and needs is called …
Scarcity
What word is used to describe anything a person or company owns that has financial value?
Asset
Price
A ____ is a recognizable sign, symbol, or design of a brand or business
Logo
What are the 3 levels of DECA competitions?
Districts/Regionals, States, and nationals
What is the term used to describe the amount of a good or service that consumers are willing to buy?
Demand
What word is used to describe the money owed to another person or organization?
Debt
What is the reduction from the original price of a product or service called?
Discount
What is the specific group of consumers that a company or business specifically targets?
Target Market
Name the Leonia DECA President and Vice President
Leyla Mertogulu, and Sohona Jethani
What word describes the overall increase in the price level of goods and services across an economy?
Inflation
What is the number is used to represent a person’s creditworthiness called?
Credit score
The money a salesperson earns based on their sales is their ______.
Commission
What do the letters in a S.W.O.T Analysis stand for?
Strengths, weaknesses, opportunities, and threats
Name the other 2 Principles events of DECA, that are not Principles of Entrepreneurship, Marketing, or Finance
Principles of Hospitality and Tourism, and Principles of Business Management and Administration.
The value of the next-best alternative given up when making a choice is called . . .
Opportunity cost
What is the portion of a company’s profits that may be paid to shareholders?
A dividend
A sales _____ is a measurable target or goal that an individual, team, or department is expected to achieve within a given timeframe.
Quota
Name 4 of the 7 functions of marketing
Possible answers: product/service management, market information financing, pricing, promotion, distribution, and/or selling
What does DECA stand for?
Distribute Education Clubs of America