Economics
Name a non-economic want.
Companionship, Respect, Love, Leisure Time, Feeling of Security, Peace, etc.
Sole Proprietorship
(Productivity)
Name three inputs that go into making Arizona Green Tea
Tea Leaves, Water, Sweetener, Lemonade, Plastic, Labor, etc.
What shape is traditionally known for order and reliability?
Square
Which clothing fixture is the best to show coordinates?
Quad Rack
What number comes after infinity?
A really big number
As price increases, supply does what?
Increases
Facebook Marketplace is an example of a ____________ to ____________ transaction.
Consumer to Consumer
(Types of Advertising)
What type of advertising do radio and tv ads belong to?
Broadcast Advertising
What kind of brand would Walmart's Great Value products be considered
Private Brand
Where should clearance items go in the store and why?
Clearance items should be in the back of the store, so anyone who is exclusively looking for cheap items will have to roam through the store to get to the clearance.
What cereal makes people the happiest?
Whatever their favorite cereal is
What kind of economy has businesses that are run by the public, but also has some form of government regulation?
Mixed Economy
PETA, UNICEF, and Doctors Without Borders are all examples of what kind of business?
Non-Profit
(Target Markets and Customer Profiles)
Hobbies would be a ___________ factor of a customer profile?
Psychographic
What do you call a group of related products that all belong to the same brand?
Product Line
What do you call items that aren't for sale and are used to build a certain aesthetic for the store?
Props
How do you fly a plane?
Carefully
What are the three types of resources?
Natural, Capital, and Human
What is the name of a business that is the sole provider of a product/service?
Monopoly
(Product Life Cycle)
What is the stage of the product life cycle after introduction, but before maturity?
Growth
Doc Martin's yellow stitching would be considered a type of...
Brand Mark
What kind of floor plan does IKEA have?
Forced Path.
What animal goes *insert animal noise*
Me, a few seconds ago
What is the main statistic companies should use to create a selling price for their products?
Equilibrium Price
In which type of company do both liability and profits go to the business?
Corporation
(Promotional Mix)
What is the major difference between publicity and advertising?
Publicity is unpaid, whereas advertising is paid
What are the four ways you can describe a product mix?
Narrow, Broad, Shallow, & Deep
What kind of window display would include multiple items that you would traditionally find at a pool party?
Related Merchandise Display.
What is the difference between a need and a want?
One is spelled N-E-E-D and the other is spelled W-A-N-T