Business Basics
Terms
Business & Economics
Competitive Events
FBLA Questions
100

Things that are essential to live such as food, water, clothing, shelter, medical

What are needs?

100
the state of being responsible for something
What is liability?
100
The primary goal of all businesses
What is to earn profit
100

100 question multiple choice tests that are completed through an online testing platform. Competitors will have 50 minutes to complete the test.

What are objective tests?

100

The most popular school event which we hold every year. We will be holding this sometime in February this year. Has to do with cookies. 

What is a bake sale?

200

A tangible item you can see and touch such as a car, pencil, book, or iPad

What are goods?

200
The process of dealing with or controlling things or people
What is management?
200
A good or service with tangible and intangible characteristics that provides satisfaction and benefits.
What is a product
200

Events, such as Public Speaking, are great for students who enjoy speaking to judges, and like having a predetermined topic or theme. They involve presenting premade speeches, projects and/or presentations, often including a brief Q&A at the end

What are presentation events?

200

The next upcoming drive that will be happen sometime after the winter break. 

What is the Funds2org shoe drive?

300

Things that someone else does for you, which are use/consumed at the same time they are provided, like a haircut, tire rotation, or oil change

What are services?

300
The sale of goods and services to foreign markets
What is exporting?
300
The study of how resources are distributed for the production of goods and services within a social system
What is economics
300

Two part events: a regular objective test and a timed production test. For the timed production test, competitors will have one or two hours, depending on the event, to demonstrate their knowledge through navigation, manipulation, and/or creation of different online applications or media.

What are production events?

300

The due date and cost of the FBLA membership fee.

When was November 6 for $25?

400

The rivalry among businesses to sell goods and services, which creates better product choices and better prices

What is competition?

400
Being able to interact in the workplace.
What is communication?
400
The funds used to acquire the natural and human resources needed to provide products.
What is capital
400

Members will be given a performance scenario or topic right before competing. Students will then be given two notecards and have a limited amount of time to prepare to act out the scenario with a judge.

What are role play events?

400

The date and location of the CT FBLA Spring Leadership Conference

When is March 12, 2024, at NVCC in Waterbury, CT?

500

A risk taker who uses existing resources to create new goods

What is an entreprenuer?

500
Businesses owned and operated by one individual.
What is sole proprietorship?
500
An economic system in which the government owns and operates basic industries but individuals own most businesses.
What is socialism
500

Events such as Community Service Project and American Enterprise Project. These projects take a large amount of time to finish!

What are chapter events?

500

The date and location of the FBLA National Leadership Conference

When is June 29, 2024, at Orange County Convention Center in Orlando, Florida?