Scarcity
What is the most liquid asset?
What is cash
Promotion, Price, Place and Product
What is The Marketing Mix
What is the ultimate goal of a business?
What is Make Money
List two examples of a need
What is food, water or shelter
When a limited amount of resources are available, consumers must
What is choosing an alternative.
Name three common assets that businesses have.
What is Equipment, land, inventory
When website visitors consciously or unconsciously ignore anything that looks like an advertisement.
What is Ad blindness
Which type of business is good for someone who wants low risk and has little experience?
What is a Franchise
What is work that one person performs for another for payment.
What is Service
What time of year is fruit most scarce?
What is Winter
What is the accounting equation?
What is assets= Liabilities + equity
Name an example of consumer motivation
What is Emotional, Rational, and Patronage.
What are other goals for a company besides money?
What is employee and customer satisfaction, net revenue, customer engagement and retention rates.
Answers vary
If farmers overproduced chickens this year this would cause the the price of chicken to
What is Decrease
All are alternatives to scarcity EXCEPT wish, ration, trade or substitute
What is a wish
Explain the difference between assets and liabilities.
What is things a company owns and things a company owes
Advertising for a specific group of people.
What Target Market
Which company structure has the least risk and flexibility?
What is a Limited Liability Company
What is Equilibrium?
What is total balance in supply and demand, X
Give an example of a situation where scarcity is evident.
What is an example of limited availability of natural resources like oil, answers can vary
Name 2 types of Expenses
What is variable and fixed
We can effectively tailor ads to the consumer.
What is Segment Marketing
Name 3 interview do's and don'ts
What is how up early, ask questions, prepare before the interview, practice, know the job qualifications.
What is dress in pj's, don't ask questions, be rude, be late
Answers vary
What is the alternative that you give up when make an economic choice is called a trade-off.
What is Opportunity Cost