misc.
What does DECA stand for?
Distributive Education Clubs of America
What are the four P's of marketing
Product, Place, Price, and Promotion
Why it is important for businesses to keep accurate accounts-receivable information?
A) To monitor aging accounts.
B) To evaluate interest rates.
A)
define hospitality industry
a group of businesses composed of establishments related to lodging and food-service management
A request made by an employee to a supervisor is an example of what type of communication?
A. Downward
B. Horizontal
C. Upward
C. Upward
Upward communication is defined as communication that moves up the chain of command, for example an employee to a supervisor. Downward communication moves down the chain from management to employees. Horizontal communication is communication with someone on the same level within the business.
Describe what a command economy is
Define scarcity
unlimited wants limited resources
what is the 50 20 30 rule
50% of your after tax income should go to needs and obligations, and then the other 50% should be split into 20 and 30 with 20% going to savings and 30% going to anything else you may want or need
define tourism industry
a group of businesses that encompass travel/transportation vendors for air, rail, auto, cruise, and motor-coach travel, and promote travel and vacations
Business plan
a detailed plan setting out the objectives of a business, the strategy and tactics planned to achieve them, and the expected profits, usually over a period of three to ten years
What year was DECA founded?
1946
Understand the tools, techniques, and systems that businesses use to create exchanges and satisfy organizational objectives
A certificate of deposit is a short-term debt security that is sold through __________ markets.
A. commodities B. money C. modified D. capital
B Money. A financial market is an organized effort or exchange that facilitates the buying and selling of financial assets. Money markets facilitate the buying and selling of short-term, low-risk financial products, such as treasury bills and certificates of deposit. Capital markets buy and sell long-term securities such as corporate and municipal bonds. Commodities markets are involved with the buying and selling of various resources such as agricultural goods and mined goods, which are often used to make other products. Modified is not a type of financial market.
quick-service restaurant (QSR)
a restaurant offering speedy basic services, convenience, and consistent quality at low prices
Define entrepreneurship
Entrepreneurship is the act of starting a business in the hope of earning a profit.
What is the official DECA logo?
The DECA diamond
Which of the following survey response methods is the most difficult for researchers to code for evaluation:
A. Open-ended B. Closed-ended C. Forced-choice D. Scale-response
A Open-ended. Researchers assign codes to survey responses in an effort to use the information in a numerical mode. Open-ended questions are designed so that respondents react to questions in a manner that requires more than "yes" or "no" as an answer. Because possible responses are not controlled or limited, coding is often more difficult. Closed-ended questions offer limited response options to inquiries or statements. Forced-choice questions are closed-ended questions. A scale is a method of measurement that assigns range of possible responses. For example, a scale that is often used to assess a respondent's feeling regarding a statement might range from "strongly agree" to "strongly disagree." This is a form of the forced-choice response method.
An example of an internal financial risk is:
a)improper budgeting practices.
b)foreign exchange rate changes.
a
franchise
a type of business that is set up through a franchise agreement, which is a contract between a franchisor and franchisee to sell a company's goods or services at a designated location
If all the individuals who own a business share unlimited liability for the business's losses, these individuals are part of a(n)
A. Private corporation
B. General Partnership
B. General Partnership
With a general partnership, all partners are liable for the debts of the business. If one partner refuses to pay her/his share of the debts, the other partners will be responsible for paying them. Owners of private, public, and "S" corporations have limited liability.
What is the 2024-2025 DECA theme
Be The One
What is an advantage of verbal communication?
Tone of voice can be used to express emotions and thoughts.
define collateral
An asset that secures a loan or other debt that a lender can take if you don't repay the money you borrow. For example, if you get a home loan, the bank's collateral is typically your house.
What are the top 3 largest franchised restaurants in the World
1) Subway
2) Mcdonalds
3) Starbucks
define demographic
statistical data or information concerning a person's age, gender, occupation, income level etc.