ACE
What does "ACE" stand for?
Achieve, Connect, Empower
A form of business organization defined as an association of two or more persons operating as co-owners.
Partnership
The total value of all goods and services produced within a given period by a national economy through domestic factors of production
The idea that money is worth more today than at a future date.
What are the 4 Ps of marketing?
Product, price, place, and promotion
What was ACE Canada originally known as?
DECA Canada
Any individual, group, or organization that has an interest in an organization or the outcomes of its actions
Stakeholder
The value of the next best alternative that is given up when a choice is made
Opportunity cost
The process a business undertakes to evaluate potential major projects or investments
Capital budgeting
A statement that summarizes the benefits a company offers to its customers and how those benefits differ from competitors
Value proposition
Where is ACE Nationals 2025 going to be held next January?
Sheraton Centre Hotel Toronto
A model that identifies and analyzes competitive forces that shape every industry and helps determine an industry's weaknesses and strengths
Porter's 5 Forces
A product that consumers buy less of as their income increases
Inferior good
Cash that has been received in advance of providing a good or service (+100 points for the journal entry)
Unearned revenue (DR Cash, CR Unearned revenue)
Dividing a market based on age, gender, income, or education level
Demographic segmentation
In what year did ACE Canada rebrand from DECA Canada?
2022
What is the term for the ability to manage one’s emotions and understand others’ emotions?
Emotional intelligence (EQ)
Cost advantages that businesses experience when they increase their production scale (long-run average cost decreases with output)
Economics of scale
A measure of a stock's volatility in relation to the overall market
Beta
The strategy of maintaining long-term relationships with customers to maximize loyalty
Customer relationship management (CRM)
To inspire and prepare the next generation of emerging leaders
What theory of motivation ranks needs from physiological to self-actualization?
Maslow’s hierarchy of needs
Latin phrase that means "holding all else constant"
Ceterus paribus
The difference between an asset's expected return and the risk-free rate is called what?
Expected risk premium
A marketing strategy that appears socially responsible but is used mainly to increase profits without meaningful change
Greenwashing