DECA board game questions

Explain the impact of geography on world trade

- An exchange of goods or services across national jurisdictions. Inbound trade is defined as imports and outbound trade is defined as exports. Subject to the regulatory oversight and taxation of the involved nations, namely through customs.

Identify company's brand promise.

- Brand promise is a company's statement in which they promise to provide and abide by a set of criteria of performance and reliability

Explain how organizations adapt to today's markets

- Companies monitor current economic trends to understand how they should market their materials in order to reach their target market

Describe the determinants of exchange rates and their effects on the domestic economy.

- Exchange rates are the rates at which a countries money is worth to another country

Choose and use appropriate channel for workplace communication

- For communicating to a large amount of people, use email or staff meeting. For direct communication, One on One meetings are effective

Describe the economic impact of inflation on business

- Rising prices, known as inflation, impact the cost of living, the cost of doing business, borrowing money, mortgages, corporate and government bond yields, and every other facet of the economy

Explain the concept of Gross Domestic Product.

- The monetary value of all the finished goods and services produced within a country's borders in a specific time period.

Explain the economic impact of interest-rate fluctuations

- When interest rates go up people earn a bigger return on their deposited money and investments

Develop rapport with customers.

- You can build rapport (close relationship) by showing empathy and understanding with customers.

Describe the nature of taxes

- amount of money taken by the government in order to sustain the country or state (education, playgrounds, public works, etc.)

Explain the nature of agency relationships

- an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party

Describe the impact of a country's history on world trade

- bad relations in the past may lead to hostilities in the present; world trade might be set back due to previous hostilities and beliefs

Discuss the impact of a nation's unemployment rates.

- having a lot of unemployed peoples means more reliance on government subsidy; high unemployment poorly affects the country's economy and standard of living

Discuss the nature of law and sources of law in the United States

- law is used in order to keep society in order and to enforce standards that everyone is held to; sources of law include the government, police officials, teachers, etc.

Determine factors affecting business risk

- sales volume, per-unit price, input costs, competition, the overall economic climate and government regulations

Which of the following is an example of legal tender issued by the federal government: A. Bank notes B. Corporate bonds C. Mutual funds D. Municipal bonds

A. Bank notes

The Loft Villa resort received a positive review on social media from a customer. What should the resort do to enhance the customer's experience further? A. Offer a discount on the customer's next stay B. Respond quickly and apologetically C. Search for customer trends D. Post frequently to capitalize on the opportunity

A. Offer a discount on the customer's next stay

A manufacturing company is well-suited for a divisional organizational structure broken down by A. Process B. Job function C. Customer type D. Product

A. Process

What is an important consideration for many large businesses when they are selecting vendors? A. Technological capabilities B. Segmentation method C. Compensation policies D. Asset depreciation

A. Technological capabilities

Which of the following is an example of a business using cash-control procedures: A. Writing checks for payments B. Marking all currency C. Eliminating expense reimbursement D. Accepting credit cards

A. Writing checks for payments

The most common form of corruption affecting international trade is A. bribery. B. government involvement. C. negotiation. D. uncertainty avoidance.

A. bribery.

Individuals often gain wealth from saving money in a retirement account because A. employers sometimes match employees' contributions. B. retirement accounts guarantee future financial security. C. many governments offer loan relief as a reward for saving. D. retirement account holders can accumulate rewards points.

A. employers sometimes match employees' contributions.

When proposing delegated tasks to her team, Becca asked for feedback so that she could A. establish openness. B. promote her authority. C. discourage over-reporting. D. set expected outcomes.

A. establish openness.

Iris buys an expensive new car using installment credit. Although the __________ for the car is made out in her name, the company that sold the car has a __________ on it until Iris makes all the installment payments. A. title; lien B. title; principal C. principal; lien D. interest; principal

A. title; lien

Talia manages a business's accounts payable, accounts receivable, inventory, and cash. Talia is responsible for A. working capital management. B. capital investment decisions. C. the business's capital structure. D. market risk management.

A. working capital management.

Aaron is conducting an online search for an article entitled "How To Make Good Decisions as a Team." The author's name is Les McKeown. Which of the following queries will provide Aaron the fewest and most accurate results? A. "how to make decisions as a team" OR "l mckeown" B. "how to make good decisions as a team" "les mckeown" C. make decisions team - mckeown D. {make decisions team} + mckeown

B. "how to make good decisions as a team" "les mckeown"

What is the primary function of the Random Access Memory (RAM) component of a computer? A. Reads the computer code that provide visual effects B. Serves as a temporary holding area for files and programs C. Stores data and programs permanently D. Enables the user to apply point-and-click commands

B. Serves as a temporary holding area for files and programs

Maggie owns an auto repair business. She'd like to be the best auto repair shop in the city. Is this a goal or a vision? A. A goal. It's long term, overarching, and inspirational. B. A vision. It's specific, measurable, and time bound. C. A vision. It's long term, overarching, and inspirational. D. A goal. It's specific, measurable, and time bound.

C. A vision. It's long term, overarching, and inspirational.

Individuals have the right to provide additional information about their income status and payment history when A. estimating their tax liability. B. opening a checking account. C. validating their credit history. D. hiring a financial planner.

C. validating their credit history.

Because a normally stocked item is backordered and a customer needs to get the item as soon as possible, Barston Distributors asks its vendor to ship the item directly to the customer when it is available. What type of purchase order does this exemplify? A. Advance placement B. Open C. Standing D. Drop shipment

D. Drop shipment

What component of a computer system is responsible for storing information needed by software applications that are currently in use? A. Web-hosting service B. Central processing unit C. Hard disk drive D. Random access memory

D. Random access memory

Why should productivity be measured? A. To locate new sources of inputs B. To find new ways to meet customer needs C. To determine the best ways to invest company profits D. To see whether the business's objectives are being met

D. To see whether the business's objectives are being met

Which of the following is a characteristic of the travel and tourism industry: A. Organizes activities in a local community B. Provides overnight accommodations C. Arranges for meals for international travelers D. Transports people to destinations away from home

D. Transports people to destinations away from home

Alexa wants to create and post a basic web page for her food truck. The first step she should take is to choose A. the font size. B. a template. C. the background colors. D. a website-building platform.

D. a website-building platform.

A hotel restaurant manager was reviewing an invoice from a food supplier and noticed that the hotel was charged for two cases of ketchup that the restaurant did not order nor receive. In this situation, the invoice helped the manager identify a(n) A. product-quality issue. B. incorrect discount rate. C. duplicate order. D. billing error.

D. billing error.

You start out college majoring in marketing, but you don't enjoy it. So you change your major to business. This is an example of a goal being A. broken down. B. distracting. C. visualized. D. dynamic.

D. dynamic.

XRT Corporation's human resources manager sends a memo to all employees that describes some general changes that will affect their health insurance next year. This is an example of __________ communication. A. verbal, upward B. lateral, downward C. mass, upward D. formal, downward

D. formal, downward

If an accounting firm deliberately conceals information about a client's financial status, the government may charge the business with A. substantiation. B. expropriation. C. breach of contract. D. obstruction of justice.

D. obstruction of justice.

1. Charice creates a new kind of glue using a new chemical formula that she invented. She wants to make sure that none of her competitors use the formula for their products. To protect the formula, Charice should __________ it. A. prototype B. copyright C. trademark D. patent

D. patent

Although there are many grocery stores near her, Sara always shops at a particular one. This is because the baggers at her preferred store help the customers carry groceries out to their cars. By offering to help customers carry their groceries, the store is increasing __________ utility. A. time B. form C. place D. task

D. task