Ch. 1-3
The customer of a service business is often called a ____.
What is Client?
A ____ is a legally binding agreement between two or more people or businesses.
What is a contact?
____ is the process of gathering and analyzing of information about a business.
What is a market research?
A(n) ____ defines the position and expectations of a job.
What is a job description?
Print that appears in everyday life is ____ print.
What is an environmental print?
A ____ economy is one in which the government makes all the economic decisions for its citizens.
What is Command economy?
A(n) ____ contract lists the products or services provided by a business and the price the customer pays in exchange.
What is a sales and service?
The ____ is a sentence in a business plan that describes the purpose of the business.
What is a mission statement?
The four Ps of marketing are product, price, place, and ____.
What is promotion?
The process of separating a large quantity of goods into smaller quantities for resale is ____.
What is bulk-breaking?
The total money circulating at any one time in a country is the ____.
What is money supply?
The ____ is the difference between a nation’s exports and its imports.
What is balance of trade?
____ plans are created for the long-term goals of an organization.
What are strategic plans?
The ____ is a specific group of customers whose needs a company will focus on satisfying.
What is target market?
A ____ is a maximum price set by the government for certain goods and services.
What is price ceiling?
Fiscal policy is the tax and spending decisions made by the president and ____.
Who is the Congress?
A person who starts a new business or purchases an existing business is a(n) ____.
What is an entrepreneur?
_____ is changing the form of raw materials for another use.
What is materials processing?
An office that is set up for the purpose of receiving and making customer calls for an organization is called a ____.
What is a call center?
The amount added to the cost of an item to determine the selling price is ____.
What is markup?
When two or more businesses work together to remove their competition, set prices, and control distribution, it is called ____.
What is Collusion?
____ are critical skills necessary to perform the required work-related tasks of a position.
What are job-specific skills?
The manufacturing of goods in large quantities using standard techniques is called ____.
What is mass production?
The process of making contact with people who are not expecting a sales contact is called a(n) ____.
What is a cold call?
The three levels of buying decisions for businesses are new purchase, repeat purchase, and ____ purchase.
What is modified purchase?