DECA REVIEW

Economics

100

Difference between economic goods and services (with 2 examples of both) 

Economic goods are tangible items (pencil, computer, food, etc), while economic services are intangible (fixing a computer cooking, etc)

200

The 4 factors of production + definition

1. Land; natural resources that are used for production 

2. Labour; the human input in the production process 

3. Capital; goods that are used to produce another good 

4. Entrepreneurship; people who take the factors of productions to create a business 

300

Three major economic systems + definition

1. Command; fully controlled by government 

2. Market; individuals and businesses have full control 

3. Mixed; a bit of both command and market 

400

Describe the supply and demand graph (x and y axis, equilibrium, demand line, supply line)

1. X-axis; quantity 

2. Y-axis; price 

3. Equilibrium; where demand and supply intercept

4. Demand; downwards slope 

5. Supply; upwards slope 

500

PESTLE stands for …

1. Political 

2. Economic 

3. Sociological 

4. Technological 

5. Legal 

6. Environmental 

Operations

100

What is the operations department responsible for?

Ensuring that the production process is completed from start to finish 

200

5 steps of the supply chain

1. Manufacturer 

2. Vendor 

3. Wholesaler 

4. Retailer

5. Consumer 

300

Safety precautions vs procedures + examples

1. Safety precautions are checks that are taken regularly to PREVENT danger 

2. Procedures are rules/guidelines to follow DURING danger  

400

A system designed to prevent unauthorized access to or form a private network

Firewall

500

A local or restricted network that enables people to store, organize and share information within an organization

Intranet

Information Management

100

Three reasons why information management is important

Answers may vary 

200

5 Note Taking Techniques 

Answers may vary 

- write key points, not sentences 

- code notes with colours or symbols 

- the cornell method

- underline, circle, or star key words 

- use abbreviations 

300

3 ways businesses keep information  

answers may vary 

- audio recording 

- computer spreadsheet

- physical documents 

400

Hardware vs Software

Hardware is a physical device, whereas software is a collection of programs installed into the computer hard drive 

500

The process of finding patterns within large data sets to predict outcomes

Data Mining

Professional Development

100

3 examples of career opportunity clusters/categories in a business 

Answers may vary 

- hospitality and tourism

- marketing 

- human resource management 

- finance 

- operations 

-sports/entertainment

200

Using chain of command, determine who you will report to if you are an employee 

Manager or level DIRECTLY above you 

300

Provide 3 personal appearance examples that make one look professional

Answers may vary 

- Clean hair

- Ironed clothes 

- Posture

- Teeth

400

The 3 directions of communication 

Upwards, downwards and horizontal/lateral 

500

What is the chain of command in order from least to greatest authority (5 steps)

employee --> manager --> senior manager --> department head --> CEO 

Communication Skills

100

Difference between mrs and ms

Mrs- married, ms- not married 

200

3 examples of non-verbal gestures that demonstrate anger or dissatisfaction 

answers may vary 

- Crossed arms, heavy breathing, clenching fists, etc

300

5 C's of Communication

Clear, Concise, Cohesive, Complete, Courteous 

400

What percentage of communication is non-verbal? 

93%

500

REVIEW Acronym 

Relevance, expertise of author, viewpoint of author, intended audience, evidence, when published