DECA Economics

Increased production

Environmental degrading occurs because of...

Encouraging senior citizens to apply for a job previously filled by young people is an example of...

Finding new sources of human resources

To thrive in today's face paced market, what is an important characteristic to have?

Flexibility

Contraction

Which phase of the business cycle would most likely have an unfavorable effect on the business environment

To aid in marketing plan

Why do marketers classify goods and services

Over the next few years, members of Generation X and Generation Y are expected to fill many job positions vacated by retiring Baby Boomers. This is an example of change in

Workforce

Wage regulations

What kind of legal factor may effect the business environment

What time of contract exists if a customer signs a contract with a business agreeing to pay a certain price for a specific product?

Bilateral.

A type of business that is owned by a few people and does not offer its shares for sale to the public is a...

Closed corporation.

An external factor that effects the market place

Consumer buying power

Copyright

In order to have exclusive rights to their literary and artistic works, authors and artists can apply for a...

Buildings, robots, and blast furnaces that businesses use to produce other goods and services are examples of...

Installations

Economics is concerned primarily with evaluating alternatives and...

Making economic decisions

Weather conditions can directly effect the supply of...

Natural resources

What do business owners consider when they select a business ownership structure?

Personal circumstances, financial needs, and the type of business.

Promotion, layaway, and credit help create......utility

Possession

What type of product do consumers usually need more information about before buying in order to get the best price?

Shopping

One example of a businesses' intellectual property that is protected by law.

Trademarks.

Improved higher goods and services

What effect does competition have on the market place

Excise

What is an example of tax that the government collects from some businesses

To encourage research.

What is one reason why the federal government awards patents to businesses that have invented new products or manufacturing processes?

Supply and demand determine prices

What is true about a private enterprise