Ethics
Behaving ethically means doing...
The right thing
What is the main purpose of management?
To accomplish the business's goals
The most common medium of exchange in modern economic systems is...
Money
In the marketing concept, whose point of view matters most?
The buyer's
If a good or service is scarce, consumers will usually do what?
Buy it
Ethical issues deal with ___ choices.
Right and wrong
Why should managers know how to do the work of the workers they supervise?
To have realistic expectations for workers
The way in which an economic system answers the basic economic questions depends upon the country's...
Government
Marketing links producers to...
Customers
A characteristic of human wants is that they are...
Unlimited
What is one benefit of ethical principles?
They simplify your decision-making process
Their decisions affect the entire company
In a communist command economy, who decides how the economic questions will be answered?
The government
Marketing is described as creating...
Exchanges
How would a business’s computers be classified?
As equipment
When DeShawn's teacher compliments his work on his group project, he's sure to give credit to the group members who helped. DeShawn is showing...
Transparency
Why do all businesses need financial resources?
To pay operating expenses
One of the reasons that a country needs an economic system is because it...
Has a limited supply of resources
What is the most common reason for businesses to search for ways to make their products better and cheaper?
Competition
Bread for a family would best be classified as a(n) __________ product.
Convenience
What question do ethical people ask when they are concerned with viability?
What's the impact of my actions in the long term?
Who is normally responsible for purchasing the proper material resources for workers to use in doing their jobs?
Middle managers
A major problem for individuals and private businesses in a socialist economy is...
Taxes
Overall, what does marketing allow us to do?
Live our daily lives
Susan is willing to pay a high price for the brand of china that she wants for her home. This china would be classified as a(n) __________ product.
Specialty