Economics
Economics is the study of
Scarcity
The marketing mix can also be referred to as the...
The 4 P's
These represent partial ownership in a company. We purchased many of these in our Market Watch Competition.
Stocks
I want to open a business quickly and easily. I do not care if my personal assets are tied to the business, and I would like to run this by myself. What type of ownership should I consider?
Sole Proprietorship
I could get one of these to protect my new invention
Patent
Every output needs inputs. In economics, we call these inputs the Factors of Production. Name two of them for 100 or all four for 200
Land, Labor, Capital, and Entrepreneurial
This element of customer segmentation is used to break down a market based on variables such as age, gender, and income
Demographics
These are collectively purchased securities or, in other words, a big basket of stocks and/or bonds that you can invest in.
Funds
This statement outlines why an organization exists or what the purpose of that business is.
Mission Statement
The process of burning an image into the consumer's mind. I utilize slogans, logos, mascots, and spokespeople to do so.
Branding
Every time you make a decision, you are giving something else up. What is this cost called in economics?
Opportunity Cost
This element of customer segmentation is used to break down a market based on customer's attitudes, interests, and values
Psychographics
These are issued by governments and corporations when they want to raise money. When purchasing these, you're essentially becoming a loan provider to a government or corporation.
Bonds
This type of business ownership is considered to be a hybrid between corporations, partnerships, and sole proprietorships.
Limited Liability Company (LLC)
I could get one of these to protect the ownership of my artistic works, such as songs and books.
Copyright
This is when too many dollars are chasing too few goods and services
Inflation
Name the four elements of the Marketing Mix
Product, Price, Place, & Promotion
Betting that a company will do poorly is called _____-ing a stock.
Shorting
I am a manager that likes control over every decision. Sometimes my employees think I micro-mange them, but I like things done my way. What kind of leadership style am I using?
Autocratic
What is the accounting equation?
A = L + OE
When supply is low and demand is high, consumers experience this
Shortage
This element of the promotional mix involves selling to customers on a 1-on-1 or individual level
Direct or Personal Selling
This is the symbol or abbreviation used to identify publically traded stocks. Nike's is NKE
I let my employees make their choices of how they like to work. I don't care if they work in person or at home, as long they get their work done. What kind of leadership style am I practicing?
Laissez Faire
What is it called when we bring a sponsorship to life with interactive forms of marketing?
Activation