Markets
What is a Market were many business sell many of the similar products or services to the same target audience?
What is a Competitor
What are the 3 goals of an advertisement?
What are
Inform,
Persuade, and
Remind.
What inflation is called when products cost more to make?
What is Cost-Push Inflation.
The Law of supply says that Higher prices causes supply of goods to what?
What is Increase because fewer people will buy the product.
What is physical items that can be purchased called?
What are Goods
What is a market that sells different products but competes for the same customers money?
What is a Indirect Competition.
What advertisement is called that is sponsored on TikTok, or Instagram?
What is Social Media Ads.
What inflation is when too many people demand a product or service called?
What is a Demand-Pull Inflation.
The Law of Demand holds that the demand level for a product or resource will ? as the price Rises.
What is Decline, because as prices rise, less people will buy the product.
What is the money a business makes after paying all its costs called?
What is Profit.
What is a market that uses special features to draw in or makes a customer choose one business over another?
Whit is a Competitive Advantage.
What is an advertisement called that uses a catchy tune?
What is a Jingle.
Who is affected more by inflation?
Who are Poor People/Minimum Wage People.
Also known as a market-clearing price, the ? price is that at which demand matches supply.
What is an Equilibrium Price.
What is actions that people do for each other called?
What are Services.
What is a market that many business sells the exact same type of product?
What is an advertisement called that focuses on a specific group of people.
What is a Target Audience.
When price go up because of inflation, do businesses hire more people or fire them?
They Fire them because business can no-longer afford to pay them.
What is the name when a business reaches its maximum output that an economy can produce?
What is Production Capacity.
What is a person who starts and manages a business called?
What is an Entrepreneur.
What is a market were a percentage of total sales in an industry is given to its employees?
What is a Market Share.
What is an advertisement called that utilizes a famous person to sell their product?
What is Product Placement.
What social class is more responsible for inflation?
Who are Rich, because they can pay the higher costs that drives the prices higher.
DAILY DOUBLE: What is it called when 2 factors of measurements are used to: 1: The use of a product or service by a target audience that is compared to the total estimate market of such product or services and 2: The number of customers who purchased said product over its competitors
What is Market Penetration.
What is something a business purchases that is a physical item for the company called?
What is Capital.