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Vocab
Fill in the blank
Vocab/Fill in the blank
100
What is the definition of Goods?
A tangible item that has monetary value
100
A _______ government will run everything.
Communist
100
__% of all sales dollars goes to cover the costs of marketing
50%
200
What is the definition of the word Distribution?
How you get goods to customers
200
Marketing is the process of _____, ______, ______, ______, and distributing goods and services.
Planning, Pricing, Promoting, selling
200
What is a Controlled Economy
It is when the government owns and controls important resources
300
What is the definition of the word Utility?
The added value to a product
300
A market is all people that share similar _____ and _____ and who have the ability to purchase a given product.
Needs and wants
300
There are less than __ ________ baby boomers that account for 51% of the wealth
5 Million
400
What is the definition of the word Target Market?
A group identified for a specific marketing program
400
The _________ development of a country is the country infrastructure
Physical
400
_________ X is know to be conservative with money
Generation
500
What is the definition of the word Land Resource?
Everything on the earth in its natural state
500
An economic system characterized by private ownership of businesses and marketplace competition is _______.
Socialism
500
What does Production mean?
Any activity related to making a product