Agribusiness
What does ECR stand for?
Efficient consumer response
What is a market structure with only a few buyers?
Oligopsony
What is a model?
A term for a simplified representation of reality
_________ is when one organization grants another permission to use a registered brand, symbol, process, patent, etc.
Licensing
Which U.S. state does not observe Daylight Saving Time?
Arizona
What is the term for a security which promises a fixed-coupon payment at equal intervals forever?
Perpetuity
What do we call the demand for inputs used to produce goods and services?
Derived Demand
What is the most common score in a set of scores called?
mode
What are the two largest cost components of the marketing bill?
Labor and packaging.
Which country was the first to implement Daylight Saving Time in 1916?
Germany
What term describes a reduction in the value of an asset?
Capital Loss
The income elasticity of demand for normal goods has what sign?
positive
What do we call a copy of a matrix where the rows and columns are interchanged?
Transpose
What do we call the return of a transport vehicle to its origin, after it has delivered its cargo?
"back haul"
What major American event typically occurs on the first Tuesday after the first Monday in November?
Election day
Intellectual property, goodwill, and brand recognition, while not physical in nature, all contribute to a firm's bottom-line profits and are therefore referred to as?
intangible assets
In game theory, what type of game is said to exist when one person's (or firm's) gain is another person's (or firm's) loss?
zero sum game
In linear programming, the term ____________ is used to describe whether a resource constraint is a minimum constraint, a maximum constraint, or an equality.
type
The importance of advertising to the firm's marketing effort is given by which ratio?
Advertising to sales
What is the only food that never spoils?
Honey
Common in real estate, the unpaid balance of a relatively short-term loan (e.g., five years) which is due in full at the end of the period is known as a(n)?
Balloon Payment
Oligopoly can approach monopoly if cooperation is close among the sellers. The most extreme form of cooperation is a ____________.
cartel
What does the acronym ARCH stand for?
Auto-regressive conditional heteroscedasticity
For an option that is "in-the-money," the difference between the strike price and the futures price is known as the option’s _________ value.
intrinsic
What is the only mammal capable of true flight?
Bats