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section 2
section 3
mixed
mixed
100
These are physical products that you can see an touch
What are goods
100
These are the four most common means of transporting goods
What are 1. railroads 2. Airlines 3. Highways 4. Rivers/ waterways
100
This a person who buys or uses good and services
What are consumers
100
This is a loan of money that is repaid plus interest
What is credit
200
products that are not physical objects such as medical care, haircuts or lawn care are called
What are services
200
This is the process of making goods and services available to the public and convincing them to buy them
What is marketing
200
These products have a name given by the maker to a line of products such as Nike, Reebok, American Eagle etc...
What are brands
200
This is the incentive for people and businesses to create new products and services
What is profit
200
If an individual or family decides to pay for an item within just a few weeks or months they need this type of credit
What is short-term credit
300
This is the market value of all goods and services produced annually in the US
What is the GDP or Gross Domestic Product
300
This is the process of selling goods or services on a large scale using the same product, price, promotion and distribution system
What is mass marketing
300
These cards are issued by banking institutions to allow customers to buy goods they may not have the money to buy
What are credit cards
300
This is the legal declaration that a person or business cannot pay debts owed
What is bankruptcy
400
This is the rapid production of large numbers of identical objects by machine is called this
What is mass production
400
These are the three important features of mass marketing
What are 1. One-price system 2. self-service 3. standard packaging
400
These are products that consumers purchase that do not have a manufacturer's name or brand and are less expensive alternatives
What generic products
400
Stores and other private sellers issue these cards to their customers.
What are charge cards
400
Shoppers who make quick decision based on advertising, the display in the store or the product's slogan are called this
What are impulse buyers
500
This is the difference between the total cost of production and the total revenues received from buyers
What is profit
500
These are stores or people who sell goods or services directly to the public
What are retailers
500
This government agency sets standards for and inspects meat, poultry and certain other food products sold in interstate commerce.
What the Department of Agriculture or USDA
500
These cards allow consumers to purchase items immediately even if they don't have the money to pay for the item.
What are charge or credit cards
500
This agency monitors product safety nationwide to make sure products in the market place do not cause injury
What is the Consumer Product Safety Commission CPSC