Terms
Things that satisfy our wants through the efforts of other people or equipment.
What are Services?
______ economies because of the successes of market economies around the world.
What is Market?
Construct a product model and test it
What is step 3?
Coca cola had _____ in it in the beginning
What is cocaine?
what is understanding?
Money left from sales after subtracting the cost of operating the business.
What is profit?
______ vital to the production of goods and services are natural, capital, and human.
What are economic resources?
Develop new product idea
What is step 1?
what soda is owned by Coke in europe and south korean markets?
What is Dr Pepper?
Having the knowledge and understanding needed to preform well.
What is Intelligence?
The quantity of a product or service that consumers are willing and able to buy at a particular price.
What is demand?
_____ vote in favor of goods or services provided by businesses; thus, successful business must be responsive to the needs and wants of consumers
What are Consumers?
Develop budgets for production and marketing costs and forecast potential sales.
What is step 5?
Coca Cola started off in a what kind of container?
What is a glass bottle
What is Judgment?
A business that grows products or takes raw materials from nature
What is an Extractor?
A ______ has four important phases: prosperity, recession, depression, and recovery
What is a business cycle?
Test Product idea with prospective customers.
What is step 2?
what company doubled the size of the drinks in the 60’s?
What is Pepsi?
Being willing to make decisions and take responsibility for the results.
The ability to influence individual and groups to accomplish important goals.
What is Leadership?
_____ is a general rise in the level of prices; deflation is a decrease in the general level of prices
What is Inflation?
Design production and marketing procedures.
What is step 4
Pepsi struggled for war rights for selling to who?
What is the u.s. Military?
Following through on commitments.
What is dependability?