Economics
What does GDP stand for?
Gross Domestic Product
What are the 4 P's of marketing?
Product, price, place, promotion
Which field focuses on managing money and investments?
Finance
What is a soft skill?
A personal attribute that enables someone to interact effectively with others.
What is the purpose of a personal budget?
To manage income and expenses.
What happens when supply increases and demand stays the same?
Price will fall
Which P focuses on how a product gets to the customer?
Place
What is the main role of supply chain management?
Managing product delivery and logisitcs
Which of these is a hard skill: data analysis, teamwork, or adaptability?
Data analysis.
What is an example of a fixed expense?
Rent or mortgage payments.
What does a surplus in the market mean? (answer must include supply and demand)
That supply is greater than demand
What is an example of a promotion strategy?
free samples, discounts, advertising
What odes real estate deal with?
Managing property
Why are soft skills important in the workplace?
They improve teamwork, communication, and problem-solving.
What is diversification in investing?
Spreading investments across different assets to reduce risk
What is the point on the graph called when demand and supply meet?
Equilibrium
Which P involves setting the cost for a product?
Price
What is the primary responsibility of HR
The management, hiring/firing of employees, employee benefits
What is the primary difference between hard and soft skills?
Hard skills are technical and measurable; soft skills are interpersonal and harder to quantify.
What type of tax is deducted directly from a paycheck
Income tax
Define: Inflation & Deflation and their causes
Teacher discretion
What does the Product element focus on in the 4 P's?
Which field of business deals with overseeing and coordinating operations across multiple business sectors
Business Management
Name three examples of soft skills.
Leadership, communication, problem-solving.
Why is saving for retirement important?
To ensure financial security later in life.