DECA2
Q: The upper limit to the amount that can be charged for a specific good or service is a?
A: Price Ceiling
2. Q: A good or service that is necessary for the well being of a person or an organization is a?
A: Need
3. Q: People in an organization that make decisions and interpret policies are called?
A: Management
4. Q: An amount of money charged for the use of borrowed money or credit?
A: Interest
5. Q: What term means all of the following: planning, designing, selling, promoting, and servicing of
products?
A: Marketing
6. Q: What type of business is owned by the stockholders?
A: Corporation
7. Q: When students participate in skill development activities while working as an employee, they
are receiving what type of training?
A: On-The-Job or Co-op Training
8. Q: What do you call the costs or fees including interest that are involved in a credit transaction?
A: Finance Charges
9. Q: In reference to computers what do the letters CPU stand for?
A: Central Processing Unit
10. Q: Which economic system allows the means for production and distribution to be privately
owned?
A: Capitalism/Free Enterprise
11. Q: What do you call a statement that is attached to a product giving information about its contents?
A: Label
12. Q: Pilferage is another name for?
A: Employee theft
2
13. Q: An actual count of the merchandise in stock is called?
A: Physical inventory
14. Q: A salesperson who meets the customers face to face and persuades them to buy, is
involved in what type of selling?
A: Personal Selling
15. Q: The person to whom a check is written is called the?
A: Payee
16. Q: When two or more people operate a business and share the profits and losses, they
own what type of business?
A: Partnership
17. Q: Hours worked over the regular 40 hour work week is called?
A: Overtime
18. Q: Name the diagram that shows the positions, responsibilities, and reporting lines of
personnel in a business?
A: Organization Chart
19. Q: What is the term that means, "let the buyer beware."
A: Cavet Empetor
20. Q: Name the person who buys the merchandise that a retail store carries in stock for the
customers.
A: Buyer
21. Q: What do you call a monthly report issued by a bank showing deposits made, checks
written, and other information?
A: Bank Statement
22. Q: Name the organization that is supported by businesses and has the purpose of
improving local business practices?
A: Better Business Bureau
23. Q: When an individual or business has debts that are greater than their assets and cannot
be paid, they are in a state of?
A: Bankruptcy
24. Q: A report that tells the financial status of a business?
A: Balance Sheet
3
25. Q: A system of recording that shows a retailer the goods he has on hand, the items he has
sold and their value?
A: Inventory Control
26. Q: The arrangement of the advertisement copy and art on the printed page?
A: Layout
27. Q: An advertisement that shows and describes several related items is called what?
A: Group Advertisement
28. Q: A store that is owned and managed by a manufacturer primarily to sell the products
that it produces?
A: Manufacturer Owned Chain.
29. Q: 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?
A: Franchising
30. Q: An exchange of information between two or more people is called what?
A: Communication
31. Q: Research attempting to measure the effectiveness of an advertisement after it has
appeared in various media?
A: Post testing
32. Q: Research attempting to measure the effectiveness of an advertisement before it is
printed or broadcasted is called?
A: Pretesting
33. Q: Legal or official permission, required by many communities, to operate or run a
business?
A: Business License
34. Q: A used item that a customer gives to the retailer as a partial payment of the price of a
new item?
A: Trade-in
35. Q: The advantages of a product that are not immediately obvious to the customer?
A: Hidden benefits
36. Q: The geographic area from which a store draws its customers?
A: Trading area
37. Q: A sale that the retailer uses to remove leftover items from the selling floor?
4
A: Clearance sale
38. Q: A system by which assortments of similar merchandise are offered at the same prices, for
example, $100, $150, $200 suits?
A: Price lines
39. Q: An item that is actually sold, on purpose, for less than its cost to the store, is being used as a?
A: Loss leader
40. Q: A projection in dollars of sales goals for a department, a merchandise line, or an entire store is
called what?
A: Merchandise plan or sales budget
41. Q: What has a store done when it has more goods in stock and on order than the demand
requires for a given period?
A: Over bought
42. Q: Goods that are the basic stock in a store and should always be kept on hand are called?
A: Staple merchandise
43. Q: Products that carry the label of the retailer who sells them rather than the manufacturer's brand
name are called what?
A: Private brands
44. Q: A written record completed by the salesperson that shows a customer's request for
merchandise that is not found in stock is called?
A: Want slip/rain check
45. Q: You have limited liability when you invest in this type of business?
A: Corporation
46. Q: The opposite of exports is?
A: Imports
47. Q: When goods and services are purchased from the U.S. by foreign buyers it is called?
A: Exports
48. Q: Name the person who buys or does business with a particular store?
A: Customer
49. Q: When would you call a person who assumes the responsibility and the risk for starting and
operating a business?
A: Entrepreneur
5
50. Q: What word expresses the continuous striving of businesses to gain larger shares of their
respective markets?
A: Competition
51. Q: When the customer has only X amount of dollars to spend, this is referred to as?
A: Buying power
52. Q: Money that is spent to produce a product results in what type of cost?
A: Production (cost)
53. Q: A rivalry between two or more businesses to obtain customers is called?
A: Competition
54. Q: What is the process of moving, handling and storing items in route from the producer to the
consumer?
A: Distribution
55. Q: When taking control of a product it becomes what type of utility?
A: Possession utility
56. Q: Making goods and services available at the location where they are needed is what type of
utility?
A: Place utility
57. Q: What utility involves altering or changing the form or shape of a product in order to make it
more useful?
A: Form utility
58. Q: What do we call activities that do not relate to the exchange of products of monetary value?
A: Non-economic activities
59. Q: Name the resource that is provided by nature.
A: Natural
60. Q: What are the first three words in making a motion?
A: I move that . . .
61. Q: What is it called when you add or delete words pertaining to a motion?
A: Amendments
62. Q: When the chairperson refers members to certain assignments to carry out, what is this group
called?
A: Committee
6
63. Q: Which parliamentary term is used to postpone a motion?
A: Table
64. Q: What does it mean to lay a motion on the table?
A: To send it to committee
65. Q: What is a quorum?
A: Number of members needed to conduct business?
66. Q: How do you close a meeting?
A: Motion to adjourn
67. Q: Name four of the five divisions of DECA.
A: High school, alumni , collegiate, Delta Epsilon Chi, Professional
68. Q: What is a chapter?
A: A local DECA unit
69. Q: What is the Merit Awards Program?
A: An individualized learning and recognition program
70. Q: What do the four points of the DECA Diamond stand for?
A: Vocational understanding, social intelligence, civic consciousness, leadership development
71. Q: The national magazine published by DECA is called?
A: New Dimensions
72. Q: Do any foreign countries belong to DECA?
A: Yes
73. Q: Where is the National DECA center located?
A: Reston, Virginia
74. Q: What does the gift in the middle of the DECA diamond stand for?
A: A job well done
75. Q: One who manages is called what?
A: Manager
76. Q: A union security agreement which does not require employees to join the union or pay dues is
called an?
A: Open shop
7
77. Q: Persons relying on each other in order to accomplish something is called?
A: Interdependency
78. Q: A house is defined as what type of good?
A: Durable
79. Q: The transfer of money for a service rendered is an example of?
A: Exchange
80. Q: Agreements between two or more people stating that one party is to do something provided by
another party is called?
A: Contractual agreements
81. Q: A union strategy in which employees stay on the job but refuse to work?
A: Sit-down strike
82. Q: When a producer sells to an intermediary, the intermediary is a?
A: Wholesaler
83. Q: The quality and quantity of the goods/services that people own and use is a measurement of?
A: Standard of living
84. Q: What is the part of the marketing process where the company determines what goods or
services will be produced and sold?
A: Planning
85. Q: A product or service that satisfies a customer's wants and need has?
A: Utility
86. Q: Those risks that may result in a loss, no change, or a gain are known as?
A: Non-insurable risks
87. Q: Marketing is the connecting link or bridge between the producers and?
A: Consumers
88. Q: What are the four roles of marketing?
A: Plan, price, promote, and distribute (place)
89. Q: Since marketers must compete among themselves to attract customers for their products, their
first objective is to satisfy the consumers. . . . ?
A: Wants and needs
8
90. Q: Who benefits through the exchanges that occur as a result of marketing?
A: Consumer (producers)
91. Q: A court order forbidding someone from carrying out an act?
A: Injunction
92. Q: What term means the sponsorship of advertisements by two or more businesses?
A: Cooperative advertising
93. Q: Name two incidental motions.
A: Point of order, appeal, suspend, spec. orders, withdraw, division
94. Q: How many states in the United States are affiliated with National DECA?
A: Fifty
95. Q: Who is the National Executive Director of DECA?
A: Dr. Edward Davis
96. Q: What type of customer disagrees, questions, or looks for error in almost everything and
everybody?
A: Argumentative customer
97. Q: A rivalry between two or more businesses is called?
A: Competition
98. Q: What do you call the basic principles by which you live, the personal rules which guide your
words and actions?
A: Ethics
99. Q: What term means the practice of cheating, misleading, or misrepresenting?
A: Deceit
100. Q: What type of behavior involves the use of words (oral and written)?
A: Verbal behavior
101. Q: What term means singular, one of a kind?
A: Unique
102. Q: What do you call knowledge or familiarity with someone or something?
A: Understanding
9
103. Q: What term means comprehending one's personal needs, interests, values and motives and
recognizing their effect on one's behavior?
A: Self-understanding
104. Q: What do you call the process of assuming roles and acting through a given situation?
A: Role playing
105. Q: When something is new, fresh, innovative, unusual, or unique, it is called?
A: Original
106. Q: What term means the act of contemplating, reflecting, or thinking over?
A: Meditation
107. Q: What do you call the act of testing or trying out a proposed idea or procedure?
A: Experimentation
108. Q: What term means the ability to generate unique ideas, approaches and solutions?
A: Creativity
109. Q: What concept consists of the company having a wide consumer orientation with the objective of
achieving long-run profits?
A: Marketing (concept)
110. Q: What term means how you feel about your self-concept?
A: Self-esteem
111. Q: Items that will be used by consumers are called?
A: Consumer goods and services
112. Q: An item that will be consumed by industrial users is called?
A: Industrial goods and services
113. Q: What word means change, modify, or make a difference?
A: Alter
114. Q: What word means skill and ability?
A: Aptitude
115. Q: What term means a feeling that a person has about someone or something?
A: Attitude
10
116. Q: What term means to have an outlook or feeling that is neither positive or negative, but is
disinterested, ambivalent, unconcerned?
A: Indifference
117. Q: What type of disposition do you have when you are pessimistic and have bad feelings about
people and things?
A: Negative attitude
118. Q: What do you call it when you are thinking unfavorable thoughts.
A: Negative thinking
119. Q: Spell the term Laissez Faire.
A: L-A-I-S-S-E-Z F-A-I-R-E
120. Q: What term describes leaders who prefer to exercise little or no control over their subordinates,
they tend to provide only general guidance?
A: Inferior attitude
121. Q: What type of attitude is characterized by people who believe that they are less worthy than the
people around them; they lack self-respect, but tend to think highly of others?
A: Inferior attitude
122. Q: An opening in a building for letting in light or air and is also used for displaying purposes is
called?
A: Window
11
123. Q: What type of leader exercises only a moderate degree of control over employees; they tend to
involve employees in decision-making and problem-solving?
A: Democratic leaders
124. Q: What type of attitude is exhibited by people who have very low opinions of, and lack of
confidence in themselves and others?
A: Defeatist attitude
125. Q: What type of leader exercises a high degree of control over their subordinates? They tend to
see themselves a s the sole source of authority.
A: Authoritarian leaders
126. Q: What condition exists when two or more things need or rely upon one another for the same
reason?
A: Interdependent
127. Q: Those things which we can live without, but which add pleasure and comfort to living?
A: Wants
128. Q: Tina Skinner is single and wants to buy a home. The bank denied her request for a mortgage
loan because of her marital status. What law applies to this situation?
A: Equal Credit Opportunity Act
129. Q: What do you call words or actions associated with fulfilling one's obligations in a dependable,
reliable manner?
A: Responsible behavior
130. Q: A person whom an action, either criminal or civil, is brought against?
A: Defendant
131. Q: When you are answerable and accountable for something within ones power and control;
dependable; reliable; what are you?
A: Responsible
132. Q: What do you call individual's verbal and nonverbal actions?
A: Behavior
133. Q: What do you call a written record of the duties and responsibilities associated with a particular
job?
A: Job description
134. Q: What type of feedback involves praise? Tends to reinforce behaviors that led to the praise.
A: Positive feedback
12
135. Q: What term means restraint of your feelings, words, and actions?
A: Self-control
136. Q: What term means to analyze something for the purpose of identifying its shortcomings, fault-
finding?
A: Criticize
137. Q: What do you call evaluative information designed to help someone improve?
A: Constructive criticism
138. Q: What type of relationship is characterized by rules, well defined positions, and clear lines of
authority? Work relationships are an excellent example.
A: Structured relationship
139. Q: What do you call the study of the way that people conduct relationships with one another?
A: Human relations
140. Q: What process consists of two or more carriers on a single ticket for a passenger?
A: Multiple ticketing
141. Q: What do you call an assurance that an accommodation or reservation will be available?
A: Guarantee
142. Q: What procedure allows customers to go directly to an area without delay?
A: Express check-in
143. Q: What term encompasses food, lodging, transportation, and sight-seeing?
A: Travel components
144. Q: A form of advertising; printed material that provides information about geographic locations and
motel, transportation, and sight-seeing attractions:
A: Tourism literature
145. Q: A middleman that provides travel assistance between a travel business and a consumer is
called what?
A: Tour operator
146. Q: Direct mail packets containing a variety of travel materials are called what?
A: Promotional folders
147. Q: A moving stairway consisting of threads linked in an endless belt used in many department
stores is called a what?
A: Escalator
13
148. Q: Large visual sheets depicting sale items/services found in travel agencies, transportation
terminals, convention bureaus, etc.?
A: Posters
149. Q: What do you call the most popular form of tourism literature?
A: Brochures
150. Q: What personal characteristic relates to specific occupations, sexes, educational levels, and
social classes?
A: Lifestyles
151. Q: What do you call the second mental buying stage?
A: Interest
152. Q: What do you call the third mental buying stage that relates directly to potential customers needs
and wants?
A: Desire
153. Q: What term means a characteristic which relates to nature and the weather in recreation
services?
A: Seasonality
154. Q: What do you call the trait of being able to relate on an individual level? To be able to see
oneself in a similar situation?
A: Personal identification
155. Q: Standards used in judging quality and/or effectiveness are called what?
A: Evaluation criteria
156. Q: What term means the process of examining and judging?
A: Evaluation
157. Q: What do you call the different forms display activities will take, such as: window, exhibit booths,
posters, and racks of brochures?
A: Display methods
158. Q: The guidelines of arranging an appealing design: form, balance, optical, weight, and rhythm
are called what?
A: Design principles
159. Q: What do you call the distinguishing factors that define a target market such as age, profession,
lifestyle, income, and education?
A: Demographics
14
160. Q: When a customer makes an unplanned purchase based on a decision made in the store?
A: Impulse buying
161. Q: What is a closing technique in which the sales person reviews the features and benefits at the
conclusion of the presentation?
A: Summary closing
162. Q: What is the most simple and natural of all closing techniques, merely asking the customer to
buy?
A: Direct
163. Q: What is the point in a sales presentation at which the customer makes a favorable buying
decision?
A: Close
164. Q: What is being pushy or too eager to make a sale?
A: Oversell
165. Q: What is offering the customer something extra for buying immediately?
A: Bonus close
166. Q: What is advice often given to new salespeople, meaning "always be closing, " implying that
anytime is a good time to try to close the sale?
A: ABC's of selling
167. Q: Merchandise which can be used with the customer's original purchase is called?
A: Related merchandise
168. Q: The act of reinforcing people so that they feel confident is called
A: Reassurance
169. Q: Form of income calculated as a percentage of sales is called?
A: Commission
170. Q: What do you call an item which is desired, but may not be a necessity?
A: Want
171. Q: What is a guarantee on a product or service called?
A: Warranty
15
172. Q: What is putting yourself in another person's place called?
A: Empathy
173. Q: What is the reason or benefit that causes people to make a purchase to satisfy wants and
needs?
A: Buying motive
174. Q: What is the point at which the customer decides that he/she must purchase a product or
service?
A: Need (decision)
175. Q: What is a small or "mint" decision that a customer makes which leads to the final decision to
buy a product or service?
A: Buying (decision)
176. Q: What term means to put off intentionally and habitually?
A: Procrastination
177. Q: What term means indisposition to labor?
A: Indolence
178. Q: What type of client questions everything and may want facts and proof before being convinced
something is true?
A: Suspicious customer
179. Q: What term means a business has the support, approval, and confidence of its customer?
A: Goodwill
180. Q: What type of customer is overly confident, feels they know more and are better than the
average person?
A: Domineering/superior customer
181. Q: What type of customer intentionally attempts to avoid paying part or the entire price for a
product or service?
A: Dishonest customer
182. Q: What type of customer is unpleasant and hard to help because they are argumentative,
complaining, irritable, moody, insulting, impatient, and/or leave-me-alone attitude?
A: Disagreeable customer
183. Q: What type of client has problems that interfere with their ability to communicate satisfactorily or
to function in a normal or pleasant manner.
A: Difficult customer
16
184. Q: What type of client believes that everything is going wrong for them and everybody is either
taking advantage of them or not really trying to help?
A: Complaining customer
185. Q: Items that are used to produce other goods or services are called what?
A: Capital goods
186. Q: Clothes, desks, books, and food are examples of what kind of items?
A: Tangible
187. Q: Housecleaning, shoe shining, singing, cooking, are all examples of what?
A: Services
188. Q: Non-monetary payments that workers receive in addition to wages or salaries?
A: (Fringe) Benefits.
189. Q: What term is used to describe businesses that sell goods or services directly to consumers?
A: Retailers
190. Q: Give an example of one of the raw materials in a wooden desk.
A: Wood
191. Q: Attempting to sell products to consumers by providing information about the product is?
A: Promotion.
192. Q: Another term for goods and services is?
A: Products.
193. Q: Objects that are manufactured for resale are called?
A: Goods.
194. Q: What is it called when a good is changed in shape and the result is a more useful good for the
consumer?
A: Form utility.
195. Q: The ability to receive goods or services based on a promise to pay later is called what?
A: Credit.
196. Q: The process or activity by which income is divided among resource owners and products is
known as?
A: Distribution
17
197. Q: Tangible items which need to be consumed within a short time?
A: Non-durable goods
198. Q: A level of union organization that consists of a number of local unions?
A: National (unions)
199. Q: The periods of expansion and contraction in economic activities of a company are known as
the?
A: Business cycle
200. Q: The regulatory agency of the monetary system of the United States which supervises banks
and provides banking services for the U.S. Treasury is:
A: Federal Reserve System
201. Q: The process or activity of producing goods and services is known as?
A: Production
202. Q: The total demand for an economy's goods and services is known as the?
A: Aggregate demand
203. Q: The phase of the business cycle characterized by decreased demand for goods and services
increased unemployment and decreased sales and profits for businesses is?
A: Contraction
204. Q: Goods that are intended to last a relatively long period of time?
A: Durable Goods
205. Q: All materials which are used in the production of goods and services are classified as?
A: Capital Goods
206. Q: The process or activity of using goods and services involves the concept of?
A: Consumption
207. Q: What is the number of tasks involved in a job and the frequency with which they occur?
A: Scope
208. Q: Risks that may result in a loss, gain, or no change are?
A: Speculative Risks
209. Q: An agreement between two or more people stating that one party will do something in return for
something provided by another party is called?
A: Contractual Agreement
18
210. Q: Insurance policy to protect a business from loss due to employee theft is called?
A: Fidelity Bond
211. Q: The failure to fulfill the terms of a contract is called?
A: Breach of Contract
212. Q: Risks caused by personal weakness?
A: Human
213. Q: A form of business with one owner?
A: Sole Proprietorship
214. Q: When the seller is not responsible for any shipping charges?
A: FOB Plant (Factory)
215. Q: The pricing strategy used by Curtis Mathes and Nieman Marcus?
A: Prestige Pricing
216. Q: State laws which permit manufacturers to set minimum prices for the resale of their goods were
known as?
A: Fair Trade Laws
217. Q: What stage of the product life cycle is characterized by information directed toward middlemen,
extensive research and development, and lack of profits?
A: Introduction
218. Q: Which step precedes evaluation in the consumer adoption process?
A: Awareness
219. Q: When the demand for some industrial good is related to the demand for other industrial goods,
it is called?
A: Joint demand
220. Q: A leading cause of marketing plans failing is?
A: Inadequate consumer research
221. Q: The four types of utility are?
A: Form, time, place, ownership (possession)
222. Q: What four strategies can marketing decision-making be classified into?
A: Product, pricing, distribution, promotion
19
223. Q: A middleman that assists in the sale and/or promotion of goods and services but does not take
title to them is an?
A: Agent
224. Q: Products produced for personal use are called?
A: Consumer goods
225. Q: In some countries, natural resources are not taped because of a lack of?
A: Technology
226. Q: A penalty charge against the shipper when a shipment arrived late is called?
A: Demurrage
227. Q: A small display area resembling a shallow box that is open on one side is called a?
A: Shadow box
228. Q: What do the letters F.O.B. stand for?
A: Free on Board
229. Q: A fee charged by the bank for handling your check?
A: Service fee
230. Q: Service usually offered in clothing stores to make clothes fit properly?
A: Alterations
231. Q: The shredded or curled pieces of wood used as cushioning material in packing?
A: Excelsior
232. Q: What type of discount is sometimes given to customers who pay promptly?
A: Cash
233. Q: Those things that are necessary for survival, such as food, clothing, and shelter?
A: Needs
234. Q: A letter about yourself written for the purpose of getting a personal interview?
A: Letter of Application
235. Q: Federal and state laws assure that credit practices are administered equitably and?
A: Ethically
236. Q: The total dollar amount the applicant will pay to use credit is called a?
A: Finance charge
20
237. Q: A person's past and future ability to pay a debt is called?
A: Credit worthiness
238. Q: The Federal Reserve System's most important job is to influence?
A: Flow of credit and money
239. Q: According to the Equal Opportunity Act, creditors must notify applicants about credit approval or
denial within how many days?
A: 30 days
240. Q: A federal government agency that enforces credit and other laws in order to keep business
competition fair is called?
A: Federal Trade Commission
241. Q: The using of goods and services is called?
A: Consumption
242. Q: What act prohibits discrimination in any aspect of a credit transaction?
A: Equal Credit Opportunity Act
243. Q: Manufactured resources used to produce goods and services are?
A: Capital goods
244. Q: An economic term used to describe the trade or transfer of goods or services is?
A: Exchange
245. Q: When something becomes outdated because of advances in technology it is said to be?
A: Obsolete
246. Q: Abilities needed for a specific job are called?
A: Aptitudes
247. Q: The most common form of training is called?
A: On-the-job training
248. Q: Anyone who uses goods and services is a:
A: Consumer
249. Q: The process of trading one good or service for another is called?
A: Exchange
21
250. Q: When buying, the choosing among alternatives is called?
A: Decision making
251. Q: Information about a product that is printed and attached to a product by the manufacturer
defines the term :
A: Label
252. Q: What type of producer changes the shapes or forms of materials so that they can be useful to
consumers?
A: Manufacturer
253. Q: What product mix strategy involves creating a certain image or impression of a product in the
minds of consumers?
A: Positioning
254. Q: After a business reaches the break-even point, future sales represent?
A: Profit or profits
255. Q: The number of unit sales required to cover the fixed and variable costs of a business is what?
A: Break-even point
256. Q: What is the text of a print advertisement
A: Copy
257. Q: A firm's pricing objectives should be compatible with its objectives.
A: Marketing or business
258. Q: Deliberately putting an artificially high price on an item or service to suggest high quality and
status is known as pricing.
A: Prestige
259. Q: The practice of selling goods or services at a limited number of predetermined price points, or
levels, is known as .
A: Price lining
260. Q: What marketing function involves the determination of an exchange price at which the buyer
and seller perceive optimum value for a good or service?
A: Pricing
261. Q: The dues for membership in an organization, the fare for a bus, and the fee for legal advice are
examples of selling .
A: Prices
22
262. Q: Expenses such as payroll and rent that must be paid in order to run a business are known as
expenses.
A: Operating
263. Q: Businesses that buy consumer goods and sell them to the ultimate consumers are known as .
A: Retailers
264. Q: The first day on the job, a new employee is given information about job duties, evaluation
procedures, and company benefits; a tour of the facility, and introductions to co-workers. This
activity is called a(n) .
A: Job orientation
265. Q: What is the direct route of distribution for industrial goods?
A: Producer to industrial user
266. Q: What element of marketing refers to what goods, services, or ideas a business will offer?
A: Product
267. Q: A plan of action for achieving marketing goals is known as .
A: Marketing strategy
268. Q: What type of business performs intangible activities that satisfy the wants of consumers and
industrial users?
A: Service
269. Q: Financial plans that forecast expected income and expenses of a specified period of time are
called .
A: Budgets
270. Q: Chain Store Age, Progressive Grocer, and Advertising Age are examples of magazines that are
classified as .
A: Trade journals
271. Q: The gathering together of many manufacturers from the same industry to display and promote
their products is called a(n) .
A: Trade show
272. Q: What personal trait is being demonstrated when an employee addresses customers, co-
workers, and employers with respect and consideration?
A: Courtesy
273. Q: Communication from management to subordinates is referred to as
communication.
A: Downward
23
274. Q: As a payroll clerk, you have access to information about other employees' salaries. If
questioned by employees, you should explain that the information is .
A: Confidential
275. Q: Gestures are classified as communication.
A: Nonverbal
276. Q: The main form of written communication between companies is .
A: Business letters
277. Q: Speaking distinctly defines the term .
A: Enunciation
278. Q: By enabling consumers to obtain goods and services at the right time and in the right place,
marketers add to goods and services.
A: Utility
279. Q: During what phase of the receiving process is all data about a shipment recorded in a receiving
log?
A: Recording
280. Q: All the stock a business has on hand is known as .
A: Inventory
281. Q: The time that passes between a business's placing an order for stock and receiving it is called
time.
A: Lead
282. Q: Each item or group of related items in a unit control system is usually referred to as a(n) .
A: Stockkeeping Unit (SKU)
283. Q: The information written on the inventory sheet during a physical stock count is taken from .
A: Price tickets or price tags
284. Q: An actual count of merchandise to determine the exact quantity on hand is referred to as a(n) .
A: Physical inventory
285. Q: The difference between what a company's inventory records show is in stock and what actually
is in stock is known as inventory .
A: Shrinkage
286. Q: What inventory control method is thought to provide more accurate information?
A: Physical
24
287. Q: inventory records show the stock count at all times.
A: Perpetual
288. Q: What type of inventory control system ensures that adequate amounts and assortments of
products are available when needed?
A: Unit
289. Q: The format of a memorandum does not require a (n) .
A: Handwritten signature
290. Q: An advantage of a telephone call over a letter is that it allows for immediate .
A: Feedback
291. Q: A rule of good listening is to listen with .
A: Empathy
292. Q: What method of physical inventory control involves counting portions of stock at regular
intervals, rather an counting all of the stock at once?
A: Tickler control
293. Q: Merchandise that is stored and used as a backup supply is called .
A: Reserve stock
294. Q: A list of items established by store or department policy and always kept in inventory is called a
.
A: Model Stock List
295. Q: When a choice is made about the best use of resources, the alternative that is given up is
called .
A: Opportunity cost
296. Q: A physical object that is useful, scarce, and transferrable is known as a(n) .
A: Good
297. Q: What type of utility exists when wheat is made into cereal?
A: Form
298. Q: In what type of economic system do people produce only what they must have in order to exist,
and all economic decisions are based on habit?
A: Traditional economy
299. Q: Since price determines what consumers buy, which jobs they will take, the success or failure of
businesses, and the types of products that will be produced, the American private enterprise
system is often referred to as a(n) economy.
25
A: Price-directed
300. Q: The formula of income minus expenses equals .
A: Profit
301. Q: What type of business risk is a change in the market that forces businesses to lower prices,
change products, or fail?
A: Economic risk
302. Q: What are the two major types of competition in which businesses engage?
A: Price and nonprice
303. Q: Making the best use of resources in the production of goods and services is known as
.
A: Specialization
304. Q: To obtain higher wages, more fringe benefits, and improved working conditions, workers can
form .
A: Labor unions
305. Q: The health of an economy is measured by its .
A: Gross national product
306. Q: During what phase of a business cycle do consumers and businesses have a hopeful outlook
about business, anticipate improved conditions, and begin to spend more money?
A: Expansion
307. Q: Providing money, services, and/or goods in return for a promise to pay at a future date is called
.
A: Credit
308. Q: Expenses which are incurred on a regular basis after a business has opened are called .
A: Operating expenses
309. Q: For what type of credit account system is the maximum amount of money that can be owed on
the credit limit, set at the time the credit account is opened?
A: Revolving
310. Q: What federal law specifies what information a business is required to give a customer in each
of the different kinds of credit systems?
A: Truth-in-Lending Act
26
311. Q: The three c's of consumer credit are capacity, capital, and .
A: Character
312. Q: A credit applicant's money and property would be considered his or her .
A: Capital
313. Q: Credit extended by one business or company to another is referred to as what type of credit?
A: Commercial
314. Q: Inaccurate information provided by employees in response to a customer's inquiry can affect
the customer's of the business.
A: Image or impression
315. Q: When setting goals, you should set goals that are ambitious but .
A: Realistic or attainable
316. Q: What ability involves intellectual, identification with the thoughts, feelings, values, attitudes,
and/or actions of another person?
A: Empathy
317. Q: A salesperson explains to a customer that sales receipts are needed in order to return
merchandise. This statement is an example of a business .
A: Policy
318. Q: A customer says, "I bought this CD yesterday, and when I tried to play it, it wouldn't work. You
don't have another one, so I want my money back." The customer has voiced an honestly felt
dissatisfaction known as a sincere .
A: Complaint
319. Q: The ways people form and conduct relationships best defines the term .
A: Human relations
320. Q: A person's feelings or values about someone or something define the term .
A: Attitudes
321. Q: What type of traits involve attitudes, feelings, values, and temperament?
A: Emotional
322. Q: By detecting your problem behaviors and being capable of changing them on your own, you can
demonstrate .
A: Self-control
323. Q: The evaluative information about yourself, your words and actions, or the results of your
behavior defines the term .
27
A: Feedback
324. Q: When working with others, you can show your interest and enthusiasm by maintaining .
A: Eye contact
325. Q: In order to be honest, you must tell the .
A: Truth
326. Q: Since most marketing employees carry out their duties with minimum direct supervision and
must be capable of making sound decisions on their own, they must demonstrate the trait of .
A: Initiative
327. Q: A marketing-information management system can compare a business's financial information
from one time period with the data from another time period to show the company's .
A: Profitability
328. Q: Studying past sales records to determine what items to carry is one method a business can use
to conduct what process?
A: Demand analysis
329. Q: A prediction of what a firm's sales will be during a specific future time period using a certain
marketing plan is called a(n) .
A: Sales forecast
330. Q: What is the most commonly used time frame for a sales forecast?
A: One year
331. Q: Gross sales minus returns and allowances defines the term .
A: Net sales
332. Q: Using the least number of coins or bills, determine how much change should be returned to a
customer who tenders $5.00 for a sale that totals $3.86? (No half dollars can be used.)
A: Four pennies, one dime, one dollar
333. Q: What business activity provides information needed to determine how well a business is doing
financially?
A: Accounting
334. Q: Producing goods in large quantities refers to production.
A: Mass
335. Q: In planning successful, sales-oriented, business letters, the writer should try to get the reader to
take .
A: Action
28
336. Q: The exchange of ideas and information defines the term .
A: Communication
337. Q: 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 .
A: Inventory control
338. Q: Placing goods in safe locations until they are needed or ready to be sold is known as .
A: Warehousing
339. Q: The review copy submitted by a newspaper to a client that shows exactly how a print
advertisement will appear is called a(n) .
A: Advertising proof
340. Q: Any unpaid form of promotion for a business or its products is called .
A: Publicity
341. Q: Activities associated with the day-to-day administration of a business are an aspect of business
.
A: Operations
342. Q: A business supplies free refreshments of a local marathon. This activity would be considered
an example of .
A: Community or public relations
343. Q: Written information sent to the media to generate publicity or increase public awareness is
called a(n) .
A: News release
344. Q: The first paragraph of a news release is called a(n) .
A: Lead or lead paragraph
345. Q: The first step in the promotional planning process is to .
A: Define the promotional objectives
346. Q: When a product is in the decline stage of its life cycle, its promotional budget will .
A: Decrease
347. Q: Promoting items that already are in demand will cause sales to .
A: Increase
348. Q: Determining whether the proper medium was used for delivering a sales message and whether
the ad is directed at the right market can be learned through advertising .
29
A: Research
349. Q: The efforts of the advertising display departments in a business should always be .
A: Coordinated
350. Q: The process of buying goods and raw materials for internal consumption or for conversion into
a final product is known as .
A: Industrial purchasing
351. Q: A form on which the purchasing agent records complete information about the merchandise
wanted is called a .
A: Purchase order
352. Q: Businesses establish guidelines for employees who do the purchasing. These guidelines are
called .
A: Purchasing policies
353. Q: In determining what goods to purchase for resale, a buyer can obtain helpful information about
customers from which employees?
A: Salespeople
354. Q: A deduction from the price of goods is known as a(n) .
A: Discount
355. Q: A story in the local newspaper about a sales person's promotion is an example of .
A: Publicity
356. Q: A purchase order is a legal contract between a buyer and a .
A: Seller, vendor or supplier
357. Q: The result obtained by multiplying the quantity of merchandise ordered by the price per unit is
called a(n) .
A: Extension
358. Q: A purchasing agent of a manufacturer schedules delivery of raw materials as they are needed
in the production process. This is known as purchasing.
A: Just-in-time
359. Q: The calculator key which erases only the number displayed is called .
A: CE or Clear Entry
360. Q: If a business invests in the stock market, what kind of risk is it taking?
A: Speculative
361. Q: The chance of fire or theft are examples of what type of business risk?
30
A: Pure
362. Q: An illegal entry into a building to commit a theft is called .
A: Burglary
363. Q: Any situation that has the potential to cause bodily harm to employees is considered a(n) .
A: Safety hazard
364. Q: An unexpected happening that may result in injury, loss, or damage is known as a(n) .
A: Accident
365. Q: Who would be the best internal source of information about a new product line?
A: The buyer
366. Q: What type of label gives facts about the physical composition of products?
A: Descriptive
367. Q: What type of label provides facts about operating procedures, care and maintenance, and use
of products?
A: Informative
368. Q: A statement by an identified user of a product, proclaiming the benefits received from the use of
the product is a(n) .
A: Testimonial
369. Q: What type of question requires more than a simple "yes" or "no" response?
A: Open-ended
370. Q: Who is the best source for the most accurate information about the technical aspects of a
product?
A: The manufacturer
371. Q: How can a salesperson best overcome a customer's objection to price?
A: By stressing quality
372. Q: A salesperson who sends a thank-you note to a customer is performing what aspect of the
sales process?
A: Follow-up
31
373. Q: As a business's sales increase, employment in the company is most likely to .
A: Increase
374. Q: A salesperson who can demonstrate the features and benefits of a product is demonstrating
product .
A: Knowledge
375. Q: A good product demonstration should create interest by involving the .
A: Customer
376. Q: A term that specifies under what conditions payments may be returned to the customer is called
a(n) .
A: Refund policy
377. Q: A condition of an agreement or contract which customers and businesses must meet is called
a(n) .
A: Term
378. Q: Discount stores have influenced the association of quality with .
A: Price
379. Q: The extent to which a salesperson follows up a sale should depend on the importance of the .
A: Sale
380. Q: What type of customer personality is characterized as being cautious with money, disliking
experiments, looking for the simple life, and wanting value for money?
A: Practical or frugal
381. Q: What type of customer personality would be most likely to say, "How does this CD player
compare with that one over there?"
A: Fact finder
382. Q: A customer asks herself/himself, "Why should I buy." What type of buying decision is the
customer trying to make?
A: Need decision
383. Q: When a customer decides to buy a pair of jeans at Macy's rather than at Sears, the customer
has made a(n) buying decision.
A: Place
384. Q: Loyal customers often provide salespeople with leads for locating new clients by providing .
A: Referrals
32
385. Q: When taking an incoming telephone order, you can ensure that the information is correct if you
.
A: Repeat (or read) the order back to the customer
386. Q: In order to transmit information accurately when taking a telephone order, you should speak .
A: Clearly and slowly
387. Q: When opening sales, salespeople can let customers know that they like what they do and that
and that they believe in what they sell by showing .
A: Enthusiasm
388. Q: What type of sales approach is the salesperson using by saying "How was your trip, Mr.
Gomez?"
A: Greeting or welcome approach
389. Q: Salespeople can easily update their knowledge of merchandise, styles, and trends by reading
journals.
A: Trade
390. Q: A letter that is exchanged by employees within the same company that uses the format of
sender, receiver, date and subject is known as a(n) .
A: Memorandum
391. Q: What skill is most commonly used in oral communication?
A: Listening
392. Q: A main reason to communicate requests, directions, and information in writing is that messages
sent in writing are less likely to be .
A: Misunderstood
393. Q: With what kind of inventory system should a perpetual inventory system be checked annually?
A: Physical
394. Q: What type of economic resource is a robot, the Alaskan pipeline, and a building?
A: Capital
395. Q: What type of utility exists when ski resorts provide ski rentals?
A: Place
396. Q: Determine whether the demand is elastic or inelastic for the following situation: the price of
diamonds increased 7 percent. As a result, sales dropped immediately.
A: Elastic
33
397. Q: The organized way in which a country handles its earning and spending decisions is its .
A: Economic system
398. Q: Goods provided by government that we all use and cannot be withheld from people who don't
help to pay for them are known as .
A: Public goods
399. Q: The total number of products produced in a week divided by the number of workers who did the
work equals the business's .
A: Productivity
400. Q: A labor union strategy used by workers in which they stop work in order to force management
to meet their demands is known as a(n) .
A: Strike
401. Q: Credit collections, investments, and loans are activities that are aspects of which marketing
function?
A: Financing/finance
402. Q: What federal law prohibits the denial of credit based on the applicant's sex, race, age, marital
status, or national origin?
A: Equal Credit Opportunity Act
403. Q: Most of the personal information about a credit card applicant is obtained from what document?
A: Credit Application
404. Q: When people can trust you and count on you to do what you say you will do, your behavior is
considered .
A: Responsible
405. Q: What type of disagreeable customer expects immediate service regardless of the presence of
other customers?
A: Impatient
406. Q: The physical image that a person presents to others defines the term .
A: Personal appearance
407. Q: When a person says, "I can get that job done," the person is exhibiting a(n)
attitude.
A: Positive
408. Q: What personal trait is demonstrated by marketing employees when they design special sales
promotions and displays?
A: Creativity
34
409. Q: What overall category of sales forecasting methods is being used when the forecast is based
on expert opinion and personal experience?
A: Qualitative
410. Q: What general category of internal marketing information includes such data as production
reports, budgets, and income statements?
A: Operating information
411. Q: The gathering of data needed to handle a specific marketing problem or situation is
.
A: Marketing research
412. Q: Studying the activities of a retailer's competitors is called .
A: Comparison shopping
413. Q: What principles provide you with your sense of right and wrong and service to keep you on the
right track?
A: Ethics
414. Q: Carrying out tasks that must be done, even if they have not been assigned to you, is an
example of how you can demonstrate .
A: Initiative
415. Q: Giving directions to other businesses when your company does not carry a requested product
encourages .
A: Goodwill
416. Q: A sign posted in a bank informs customers that two pieces of identification are needed in order
to cash checks. The sign is an example of business .
A: Policy
417. Q: Another name for the capital of a business is its .
A: Assets
418. Q: What makes it possible for businesses in a free enterprise economy to grow, expand, and hire
new employees
A: Profits
419. Q: What situation exists when there is only one supplier of a certain product, and there are no
substitutes readily available?
A: Monopoly
35
420. Q: What is the major way that customers cause inventory shrinkage?
A: By shoplifting
421. Q: A producer's stock of completed products ready to be marketed is known as .
A: Finished products
422. Q: The level of inventory at which an order for stock should be placed is known as the .
A: Reorder point
423. Q: An effective technique for personalizing a telephone sales presentation is to greet the customer
by .
A: Name
424. Q: Putting forth effort in order to understand what is being said is known as listening.
A: Active
425. Q: All the efforts to safeguard consumers from any kind of injury they might suffer in the process of
purchasing and/or using consumer products is known as .
A: Consumer protection
426. Q: What federal regulatory agency has broader influence on marketing activities than any other
government regulatory agency?
A: Federal Trade Commission (FTC)
427. Q: An independent organization that tests electrical products for quality and safety is .
A: The Underwriter's Laboratory
428. Q: If a product has been graded, the buyer does not need to perform what activity?
A: Inspection
429. Q: A promise by the seller that covers the entire product is known as a(n)
warranty.
A: Full
430. Q: Names, terms, symbols, or designs that identify products and distinguish them from
competitors' products are known as .
A: Brands
431. Q: In terms of branding, the Pillsbury Dough Boy is an example of a(n) .
A: Trade Character or Brand Mark
432. Q: "Just Say No to Drugs" is an example of a strong promotional message for .
36
A: Ideas
433. Q: On a per contact basis, what form of promotion is the most expensive?
A: Personal selling
434. Q: When the selection of a promotional mix is influenced by the path the product takes from the
producers to the consumer, the mix is influenced by its .
A: Distribution system
435. Q: Local retailers probably spend the greatest amount of their advertising budgets on what media?
A: Newspaper
436. Q: What type of direct-mail advertising is being used when an advertiser sends sweepstakes entry
forms to individuals?
A: Persuasive
437. Q: The most expensive radio advertising is presented during .
A: Drive time
438. Q: When calculations of media costs are based on target audiences rather than total audiences
reached by the media, the audience figures are said to be .
A: Weighted
439. Q: What is the best media scheduling strategy for advertising Valentines Day cards?
A: Flighting
440. Q: The impression an advertisement will make on the average consumer in the target audience
refers to .
A: Impact
441. Q: What element of a print ad is the text that is set in large type and usually positioned at the top of
the advertisement?
A: Headline
442. Q: What element of a print ad is the test that presents the principal sales message?
A: Copy
443. Q: The consumers' perception of a product as compared to competitive products is known as
product .
A: Positioning
444. Q: By backing a print ad's claims with survey results, testimonials, and endorsements, you can
promote the ad's .
A: Credibility
37
445. Q: Inflatable air bags that open upon collision are examples of features.
A: Hidden
446. Q: A customer says, "These shoes feel great, but I don't like the tassels." The customer has
stated a(n) .
A: Objection
447. Q: A customer says, "I've always bought foreign-made cars. Why change now?" What type of
objection has the customer made?
A: Product
448. Q: The first and last rule of listening in order to determine a customer's buying motives is to stop
.
A: Talking
449. Q: During what part of the sales presentation does a sales person tell customers about a product's
outstanding features?
A: Sales talk
450. Q: What speaks louder than words in sales demonstrations?
A: Actions
451. Q: What step in new-product development involves considering each idea for a new product and
discarding ideas that seem unworkable?
A: Product screening
452. Q: How closely a company's product lines relate in terms of the product's end use, methods of
distribution and promotion, target markets, and price range is referred to as product .
A: Consistency
453. Q: Small amounts of a product given to potential customers on the spot or sent by mail are called .
A: Samples
454. Q: A retailer who adopts a promotional policy that emphasizes merchandise assortment, customer
service, or fashion leadership would operate what kind of store?
A: Nonpromotional
455. Q: Informing consumers of noncontroversial issues which are in the public's best interest is known
as promotion.
A: Public service
456. Q: Using the least number of coins or bills, determine how much change should be returned to a
customer who tenders $20 for a sale that totaled $16.48. (No half dollars can be used.)
A: Two pennies, two quarters, three one dollar bills
38
457. Q: What business activity consists of the elements of planning, leading, organizing, and
controlling?
A: Management
458. Q: What element of management involves deciding what will be done and how it will be
accomplished?
A: Planning
459. Q: The process of converting resources into goods is known as .
A: Production
460. Q: Who are the owners of corporations?
A: Stockholders
461. Q: What product mix strategy involves adding a lower priced product or product line to a product
mix?
A: Trading down
462. Q: Which marketing function is important because it affects how much gross profit a business will
make on a good or service?
A: Pricing
463. Q: What element of marketing focuses on considerations in getting products in the right location at
the right time?
A: Place
464. Q: When sellers design products that appeal to most buyers and direct their activities to the whole
market, they are using .
A: Mass marketing
465. Q: Channel members which operate between a producer and consumer are known as .
A: Middlemen or intermediaries
466. Q: What are the two classifications of operating expenses?
A: Fixed and variable
467. Q: Setting selling prices below even-dollar amounts in order to suggest a bargain is known as .
A: Odd pricing
468. Q: To calculate the break-even point for an item, you would need to know the unit's selling price,
the variable cost per item, and what other information?
A: Total fixed costs
39
469. Q: What area of product planning is used to protect the product, create a product image, and
identify the product brand?
A: Packaging or package
470. Q: Considering good speaking skills, what type of skills are needed by the order taker when taking
telephone orders?
A: Listening
471. Q: If you need to check some information when taking a telephone order, do not leave the
customer on hold longer than .
A: 60 seconds
472. Q: What type of sales approach is the salesperson using by saying, "May I show you our new
arrivals?"
A: Service approach
473. Q: What effect does the use of effective substitute selling have on a company's sales?
A: Increases sales
474. Q: Benefits that are available from only one product are known as benefits.
A: Unique or exclusive
475. Q: Advantages that need little explanation by the salesperson are known as benefits.
A: Obvious or apparent
476. Q: Salespeople should tailor their sales presentations to appeal to each customer's buying.
A: Motives
477. Q: Customers should have the opportunity to handle and even "try out" a product during the sales
A: Demonstration
478. Q: Salespeople can show customers that products are special during sales demonstrations by
handling the product with .
A: Respect or care
479. Q: A well-kept store benefits the store and the .
A: Customer(s)
480. Q: By beginning and ending work according to scheduled times, employees can help businesses
to control .
A: Expenses
481. Q: The process of counting or checking goods as they are received is known as .
A: Receiving
40
482. Q: Company sales records, budget figures, and records of product returns are types of data.
A: Secondary
483. Q: When selecting appropriate products for a discount store, the primary consideration for the
buyer should be .
A: Price
484. Q: Activities associated with the day-to-day administration of a business are an aspect of business
A: Operations
485. Q: A salesperson says to a customer: "Let's get a couple of cans of tennis balls to go with your
new racket." This is an example of suggesting .
A: Merchandise
486. Q: Marking the date the merchandise is received by a store provides a record of the length of time
the goods have been in stock. This is known as markings.
A: Season
487. Q: What federal law prohibits discrimination against a credit applicant on the basis of factors such
as sex or marital status?
A: Equal Credit Opportunity Act
488. Q: Businesses can analyze demand for products by examining the list of things that customers
have requested that are not in stock. This list is made by compiling .
A: Want slips
489. Q: To tell people that you want more information about a topic, and that you are really thinking
about the information being given, you should ask .
A: Questions
490. Q: The way you feel about your view of yourself at any given time defines the term .
A: Self-esteem
491. Q: A business requesting credit would need to submit an application and a(n) .
A: Financial statement or report
492. Q: Most modern department stores take a physical inventory at least once every .
A: Year
493. Q: When a business buys larger amounts of stock than it is able to sell, a stock has
occurred.
A: Overage
41
494. Q: A business that offers a great many items in a product line is said to have a(n)
product mix.
A: Deep
495. Q: The process of obtaining money and using it effectively to achieve an organization's goals is
known as .
A: Financing
496. Q: By providing safe, secure working environments, businesses show their social responsibility to
A: Employees
497. Q: What middleman for industrial goods functions much the same as wholesales do for consumer
goods?
A: Industrial distributor
498. Q: Financing is the marketing function which analyzes potential sources of and its
allocations.
A: Revenue
499. Q: What personal characteristic relates to specific occupations, sexes, educational levels and
social classes?
A: Lifestyles
500. Q: Products move from the producer to consumers through what type of system?
A: Distribution system