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Marketing Study Guide Chp 2
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Marketing
Sports and Entertainment Marketing 3rd Edition
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26 Terms
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1
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financial statement
A(n) ________ that shows a companys assets, liabilities, and net worth at a specific point in time- Balance Sheet.
2
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Microeconomics
________- the study of the relationships between individual consumers and producers.
3
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amount of money
The ________ remaining from revenues after all expenses are paid- Profit.
4
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Macroeconomics
________- the study of the economics of the entire society.
5
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Retention
Risk ________- Setting aside funds to help predict and loosen the loss of a risk in the future.
6
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Gain
________ Or Loss Risk- (speculative risk)- There is a chance of loss or ________.
7
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Form utility
________- when the physical characteristics of a product or service are improved.
8
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Time utility
________- making the product or service available when the customer wants it.
9
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The amount of money remaining from revenues after all expenses are paid
Profit
10
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The study of how goods and services are produced, distributed, and consumed
Economics
11
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The possibility of financial gain or loss or personal injury
Risk
12
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A report developed to predict the expenses to be incurred and revenues to be received
Forecast
13
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The business is legally responsible for damages
Liable
14
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Involves preventing, reducing, or lessening the negative impacts of risk
Risk Management
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The income that is distributed to investors
ROI (Return on Investment)
16
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A system of deciding what is right or wrong in a reasoned and impartial manner
Ethics
17
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The amount of satisfaction a person receives from the consumption of a particular product or service
Economic Utility
18
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Shows revenues and expenses for a specific period of time reveals companys profit or loss
Income Statement
19
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High standards of rules and guidelines
Principles
20
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Making decisions to use resources in ways that result in the greatest profit
Profit Motive
21
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Macroeconomics
the study of the economics of the entire society
22
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form utility
when the physical characteristics of a product or service are improved
23
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place utility
the product is available where it is wanted
24
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possession utility
the product or service is available at an affordable price and easily obtainable
25
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Gain Or Loss Risk
(speculative risk)- There is a chance of loss or gain
26
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Controllable Risk- It can be controlled or prevented (Opposite
Uncontrollable risk)
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