DECA OFFICIAL QUESTIONS QUIZBOWL

The upper limit to the amount that can be charged for a specific good or service is a?

price ceiling

A good or service that is necessary for the well being of a person or an organization is a?

need

People in an organization that make decisions and interpret policies are called?

management

An amount of money charged for the use of borrowed money or credit?

interest

What term means all of the following: planning, designing, selling, promoting, and servicing of products

marketing

what type of business is owned by stockholders

corporations

When students participate in skill development activities while working as an employee, they are receiving what type of training?

on-the-job or co-op training

What do you call the costs or fees including interest that are involved in a credit transaction

finance charges

In reference to computers what do the letters CPU stand for?

central processing unit

Which economic system allows the means for production and distribution to be privately owned?

capitalism/free enterprise

What do you call a statement that is attached to a product giving information about its contents?

label

Pilferage is another name for?

employee theft

An actual count of the merchandise in stock is called?

physical inventory

A salesperson who meets the customers face to face and persuades them to buy, is involved in what type of selling?

personal selling

the person to whom a check is written is called

a payee

When two or more people operate a business and share the profits and losses, they own what type of business?

partnership

Hours worked over the regular 40 hour work week is called?

overtime

Name the diagram that shows the positions, responsibilities, and reporting lines of

personnel in a business?

organization chart

What is the term that means, "let the buyer beware.

cavet empetor

Name the person who buys the merchandise that a retail store carries in stock for the

customers

buyer

What do you call a monthly report issued by a bank showing deposits made, checks

written, and other information

bank statements

Name the organization that is supported by businesses and has the purpose of

improving local business practices?

better business bureau

When an individual or business has debts that are greater than their assets and cannot

be paid, they are in a state of?

bankruptcy

A report that tells the financial status of a business

balance sheet

A system of recording that shows a retailer the goods he has on hand, the items he has

sold and their value?

inventory control

A form of advertising; printed material that provides information about geographic locations and motel, transportation, and sight-seeing attractions: (144)

tourism literature

A moving stairway consisting of threads linked in an endless belt used in many department

stores is called a what (147)

escalator

A middleman that provides travel assistance between a travel business and a consumer is

called what? (145)

tour operator

Direct mail packets containing a variety of travel materials are called what (146)

promotional folders

What do you call the most popular form of tourism literature

brochures

The evaluative information about yourself, your words and actions, or the results of your behavior defines the term _____ (323)

feedback

Gross sales minus returns and allowances defines the term ____ (331)

net sales

The distribution activity that involves keeping track of how much stock is on hand, how much as been sold, and how much should be ordered is known as ____ (337)

inventory control

Written information sent to the media to generate publicity or increase public awareness is called a(n) (334)

news release