DECA questions

deca

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 product?

marketing

What type of business is owned by the stockholders?

corporation

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 allowed 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 of what type of selling?

personal selling

The person to whom a check is written is called the?

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 statement

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

brankruptcy

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

The arrangement of the advertisement copy and art on the printed page?

layout

An advertisement that shows and describes several related items is called what?

group avertisement

A store that is owned and managed by a manufacturer primarily to sell the products that it produces?

manufacturer owned chain

A retail system under which a supplier gives a retailer the right to use the company's name in a specified location to sell certain goods and services?

franchising

An exchange of information between two or more people is called what?

communication

Research attempting to measure the effectiveness of an advertisement after it has appeared in various media?

post testing

Research attempting to measure the effectiveness of an advertisement before it is printed or broadcasted is called?

pretesting

Legal or official permission, required by many communities, to operate or run a business?

business license

A used item that a customer gives to the retailer as a partial payment of the price of a new item?

trade-in

The advantages of a product that are not immediately obvious to the customer?

hidden benefits

The geographic area from which a store draws its customers?

trading area

A sale that the retailer uses to remote leftover items from the selling floor?

clearance sale

A system by which assortments of similar merchandise are offered at the same prices, for example, $100, $150, $200 suits?

price lines

An item that is actually sold, on purpose, for less than its cost to the store, is being used as a?

loss leader

A projection in dollars of sales goals for a department, a merchandise line, or an entire store is called what?

merchandise plan or sales budget

What has a store done when it has more goods in stock and on order than the demand requires for a given period?

over bought

Goods that are the basic stock in a store and should always be kept on hand are called?

staple merchandise

Products that carry the label of the retailer who sells them rather than the manufacturer's brand name are called what?

private brands

A written record completed by the salesperson that shows a customer's request for merchandise that is not found in stock is called?

want slip/rain check

You have limited liability when you invest in this type of business?

corporation

The opposite of exports is?

imports

When goods and services are purchased from the U.S. by foreign buyers it is called?

exports

Name the person who buys or does business with a particular store?

customer

When would you call a person who assumes the responsibility and the risk for starting and operating a business?

entrepreneur

What word expresses the continuous striving of businesses to gain larger shares of their respective markets?

competition

When the customer has only X amount of dollars to spend, this is referred to as?

buying power

Money that is spend to product a product results in what type of cost?

production (cost)

A rivalry between two or more businesses to obtain customers is called?

competition

What is the process of moving, handling and storing items in route from the producer to the consumer?

distribution

when taking control of a product it becomes what type of utility?

possession utility

Making goods and services available at the location where they are needed is what type of utility?

place utility

What utility involves altering or changing the form or shape of a product in order to make it more useful?

form utility

What do we call activities that do not relate to the exchange of products of monetary value?

non-economic activities

Name the resource that is provided by nature.

natural

What are the first three words in making a motion?

I move that...

What is it called when you add or delete words pertaining to a motion?

amendments

When the chairperson refers members to certain assignments to carry out, what is this group called?

committee

Which parliamentary term is used to postpone a motion?

table

What does it mean to lay a motion on the table?

to send it to committee

What is a quorum?

number of members needed to conduct business

How do you close a meeting?

motion to adjourn

Name four of the five divisions of DECA.

high school, alumni, collegiate, Delta Epsilon Chi, professional

What is a chapter?

a local DECA unit

What is the Merit Awards Program?

an individualized learning and recognition program

What do the four points of the DECA diamond stand for?

vocational understanding, social intelligence, civic consciousness, leadership development

The national magazine published be DECA is called?

DECA Dimensions

Do any foreign countries belong to DECA?

yes

Where is the National DECA center located?

Reston, Virginia

What does the gift in the middle of the DECA diamond stand for?

a job well done

One who manages is called what?

manager

A union security agreement which does not require employees to join the union or pay dues is called an?

open shop

Persons relying on each other in order to accomplish something is called?

interdependency

A house is defined as what type of good?

durable

The transfer of money for a service rendered is an example of?

exchange

Agreements between two or more people stating that one party is to do something provided by another party is called?

contractual agreements

A union strategy in which employees stay on the job but refuse to work?

sit-down strike

When a produced sells to an intermediary, the intermediary is a?

wholesaler

The quality and quantity of the goods/services that people own and use is a measurement of?

standard of living

What is the part of the marketing process where the company determines what good or services will be produced and sold?

planning

A product or service that satisfies a customer's wants and needs has?

utility

Those risks that may result in a loss, no change, or a gain are known as?

non-insurable risks

Marketing is the connecting link or bridge between producers and?

consumers

What are the four roles of marketing?

product, place, price, promotion

Since marketers must complete among themselves to attract customers for their products, their first objective is to satisfy the consumers' _____?

wants and needs

Who benefits through the exchanges that occur as a result of marketing?

consumer (producers)

A court order forbidding someone from carrying out an act?

injunction

What term means the sponsorship of advertisements by two or more businesses?

cooperative advertising

Name two incidental motions

point of order, appeal, suspend, special orders, withdraw, division

How many states int he United States are affiliated with National DECA?

fifty

Who is the National Executive Director of DECA?

Dr. Edward Davis

What type of customer disagrees, questions, or looks for error in almost everything and everybody?

argumentative customer

A rivalry between two or more businesses is called?

competition

What do you call the basic principles by which you live, the personal rules which guide your words and actions?

ethics

What term means the practice of cheating, misleading, or misrepresenting?

deceit

What type of behavior involves the use of words (oral and written)?

verbal behavior