Finance
This is the money you earn from a job, business, or investment.
What is Income or Wages?
Nike's famous three-word message, "Just Do It," is an example of this marketing element.
What is a slogan/tagline?
When a company sells a product to a customer in another country, it is participating in this.
What is international trade?
The basic economic problem is that humans have unlimited wants but this is limited.
What are resources?
Currently this is at over $40 trillion dollars in the United States.
What is the National Debt?
If you put $1,000 in an account and earn 5% interest for one year, you’ll have this much before taxes or fees.
What is $1,050?
When a company divides customers into groups based on things like age, interests, or location, it is doing this.
What is market segmentation?
This word describes money used by a particular country, such as dollars, euros, or yen.
What is currency?
When prices generally rise over time and your dollar buys less, economists call it this.
What is inflation?
This is what you call it when a company makes more than its expenses.
What is a profit?
This describes money set aside for unexpected expenses, such as a car repair or medical bill.
What is an emergency fund?
A company gives you a free sample hoping you'll eventually buy the full product. This is an example of this promotional strategy.
What is sales promotion?
If the U.S. buys cars from Japan, the cars entering the U.S. are called this.
What are imports?
If a popular new sneaker has only 100 pairs available but thousands of people want them, the price may rise because of this economic principle.
What are supply and demand?
You walk into a store for toothpaste and walk out with toothpaste, candy, headphones, and a hoodie you didn't plan to buy. Marketers would call those unexpected purchases this.
What are impulse purchases?
You buy a $1,200 laptop using a credit card and pay it off over time. The extra money charged for borrowing is called this.
What is interest?
A teenager sees an Instagram video about a product, while a parent sees a completely different ad for the same company. This is possible because marketers use this to reach specific audiences.
What is targeted advertising?
A U.S. company opens a factory in another country rather than simply selling products there. This is an example of this type of business activity.
What is foreign direct investment (FDI)?
You spend Saturday working at a job instead of attending a concert. The value of the opportunity you gave up is this.
What is opportunity cost?
You're traveling in Europe and your U.S. dollars won't directly pay for your pizza. You need to exchange your dollars for this.
What is euros?
You invest $1,000 and it grows to $1,100. Your percentage return on the original investment is this.
What is 10%?
A company sells the same basic product but changes its packaging, advertising, or features to appeal to different groups of customers. This strategy focuses on this concept.
What is positioning?
A company discovers that a hand gesture considered friendly in one country is offensive in another. This demonstrates why businesses must understand this when entering international markets.
What is cultural differences/cultural awareness?
During a recession, consumers may buy fewer products, causing businesses to cut production and potentially reduce hiring. This illustrates how these two parts of the economy can affect each other.
What are consumers and businesses?
Your favorite fast-food restaurant raises the price of its burgers, and you decide to eat somewhere else. Your reaction demonstrates this economic concept.
What is price elasticity of demand?