Finance
What is an Income Statement?
Name one level on Hierarchy of Needs.
What is ______________?
GDP
What is Gross Domestic Product?
Repeat business is important because...
What is building loyalty and increasing profits?
What is management?
Money a business earns from sales.
What is revenue?
Group of customers a business wants to reach.
What is the target market?
This economic system is a mix of free market and government regulations.
What is mixed economy?
Factors that cause something to change or vary.
What are variables?
Name one factor of the Economic Environment
1. employment rates
2. low / high economic growth
3. GDP
4. consumer confidence
5. etc.
What is liability?
The image or identity of a product or company.
What is brand?
A physical product you can touch that is sold.
What are goods?
The probability of a product ceasing to exist or becoming unusable within an amount of time
What is perishability?
Remaining amount after expenses are subtracted from revenue.
What is profit?
The cost of borrowing money.
What is interest?
4 P's of Marketing.
What is Price, Place, Promotion, and Product?
An intangible product you can't touch that is sold.
What are services?
Physical components that support tourism: hotels, roadways, transportation, restaurants, etc.
What is infrastructure?
This business uses generated funds to provide services to public.
What is a non - profit?
A plan for how money will be spent and saved.
What is a budget?
Name 3 of the 7 functions of Marketing.
1. Product / Service Management
2. Pricing
3. Promotion
4. Selling
5. Market Info Management
6. Channel Management
7. Market Planning
The basic economic problem.
What is scarcity?
Adventure tourism, sustainable development of regions for future use.
What is ecotourism?
Name one of the 3 levels of management.
1. CEO
2. CFO
3. COO