Economics
Consumer willingness and ability to buy products
What is demand?
Aka: "the middle man" - Agents or brokers are individuals or companies that act as an extension of the manufacturing company. Their main job is to represent the producer to the final user in selling a product. Thus, while they do not own the product directly, they take possession of the product in the distribution process.
What is an agent?
a program or script on a mail server that automatically replies to e-mails.
What is an auto-responder?
the means by which the message is communicated to the target audience; types of advertising media include direct mail, radio, television, billboards, online ads, and more.
What are advertising media?
money and other valuables belonging to an individual or business
What are assets?
An economic system in which the government controls a country's economy.
What is a command economy?
marketing products to ultimate consumers through face-to-face sales presentations at home or in the workplace
What is direct selling?
communication that takes place among any employees on the same organizational level
What is lateral communication?
Promoting a low-priced item to attract customers to whom the business then tries to sell a higher priced item
What is bait-and-switch advertising?
Amounts to be received in the future due to the sale of goods or services
What are accounts receivable?
offered to encourage people to make certain choices or behave in a certain way. They usually involve money, but they can also involve goods and services.
What is an economic incentive?
A tax on imported goods
What is a tariff?
Questions asked in a way that suggest you have a preferred answer
What is a leading question?
A promotional method used to create a favorable image for a business
What is institutional promotion?
A thorough review; to check the accuracy of a business's financial records
What is an audit?
the ability of an individual, a firm, or a country to produce more of a good or service than competitors, using the same amount of resources
What is absolute advantage?
A type of business that buys goods in large amounts and resells them to other businesses in smaller lots.
What is a wholesaler?
(AKA: Memo) a usually brief written message or report from one person or department in a company or organization to another
What is a memorandum?
a product sold at a loss to attract customers
What is a loss leader?
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
What is a balance sheet?
land, labor, capital, entrepreneurship
What are the four factors of production?
a shipment term used to indicate whether the seller or the buyer is liable for goods that are damaged or destroyed during shipping
skill in dealing with people in difficult situations
What is tact?
Headlines, copy, illustrations, signature, slogan, disclosures
What are the parts of a print ad?
A summary that shows total income and spending for a given time period
What is a cash flow statement?