a legal agreement to sell a parent company's product or services in a designated geographic area
What is a franchise
100
Occurs when a firm exports goods or services to consumers in another country
What is international trade.
100
the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return
What is marketing
100
the method used by a society to produce and distribute goods and servies
What is Economic System
100
Process by which individuals pursue opportunities without regard to resources they currently control.
What is Entrepreneurship
200
legal agreement between 2 or more to be jointly responsible for the success or the failure of a business
What is a partnership
200
Any firm that engages in international trade or investment
What is International Business
200
states of felt deprivation, including basic physical, social, and individual; part of human makeup
What is Needs
200
government programs that protect people experiencing unfavorable economic conditions
What is Safety Net
200
Firms that provide their owner(s) the opportunity to pursue a particular lifestyle and earn a living while doing so. Golf Pros.
What is A lifestyle firm
300
general and limited
what are the 2 kinds of partnership?
300
Form of government in which one person or political party exercises absolute control over all spheres of human life and opposing political parties are prohibited
What is Totalitarianism
300
the act of obtaining a desired object from someone by offering something in return
What is exchange
300
economic system in which decisions on production and consumption of goods and services are based on voluntary exchange in markets
What is Market Economy
300
Firms that bring new products and services to market by creating and seizing opportunities. E.g. Google, eBay.
What is Entrepreneurial firms
400
one that is incorporated under the laws of a state that differs from the one in which it does business
What is foreign corporation
400
An economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced
What is Market Economy
400
the portion of the customer's purchasing that a company gets in its product categories
What is share of customer
400
market-based economic system with limited government involvement
What is Mixed Economy
400
The difference between what is available and what is possible!
What is a business gap
500
identifies the name and address of a new corporation, its purpose, the names of the initial directors, and the amount of stock that will be issued to each director
What is articles of incorporation
500
Involves holding a firm and its officers responsible when a product causes injury, death, or damage
What is Product Liability
500
the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
What is marketing strategy
500
an economic system characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market
What is Free Enterprise
500
A metaphor describing the time period in which a firm can realistically enter a new market: market for sth new established (open) - market matures (window closes for new entrants).