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DECA > exam > Flashcards

exam Flashcards

1
Q

Installment credit

A

Loans paid back in equal payments (car loan)

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2
Q

Revolving credit

A

A credit that comes with a predetermined limit (credit card)

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3
Q

Open credit

A

full payment for each period (phone plan)

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4
Q

Outputs

A

Represents what the business produces

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5
Q

Business tort

A

Wrongful acts that hurt a business

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6
Q

Economic want

A

Costs money

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7
Q

Non-economic want

A

Doesn’t cost money

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8
Q

Copyright

A

Gives owner exclusive rights

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9
Q

Disparagement

A

Criticism/ Unkind remarks about someone

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10
Q

Copyright infringement

A

When someone uses a work protected under copyright without permission

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11
Q

Patent

A

Protects new inventions/creations

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12
Q

Trademark

A

Protects brands, logos and slogans

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13
Q

Mission statement

A

Definition of the companies business

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14
Q

Financial forecast

A

Past, present and future financial conditions

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15
Q

Human resources regulations

A

Set of rules to ensure consistency with employees

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16
Q

Compensation

A

What is earned by employees

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17
Q

SWOT analysis

A

Analyze strengths, weaknesses, opportunities, and threats

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18
Q

Competitive analysis

A

Compare yourself to the competition

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19
Q

Wholesaler

A

A person that sells goods in large quantities at low prices, works closely with retailers

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20
Q

Industrial distributor

A

A wholesaler who works closer with the manufacturer

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21
Q

Oligopoly

A

A market where the market is dominated by 2 - 5 companies

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22
Q

Capital resources

A

A human made resource that aids in the production of a good/service

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23
Q

Achievement orientation

A

Having the drive and passion to achieve goals and be successful

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24
Q

Sales quota

A

A measurable goal sellers are expected to hit within a certain period of time

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25
Q

Functional organizational structure

A

A team structure that puts employees into departments based on their specific levels of expertise

26
Q

Venture ideas

A

The idea/concept of a business

27
Q

Angel investor

A

Invest in the early stages of a startup to gain ownership equity

28
Q

Venture capitalist

A

They form limited partnerships to invest in the middle stages (after they’ve already started gaining revenu) of a startup

29
Q

Lead time

A

The time it takes a supplier to have the good ready for delivery.

30
Q

Tax liability

A

Money owed to tax authorities (government)

31
Q

Networking

A

Interacting with other to exchange information and professional/social contacts

32
Q

Utility services

A

Basic servies a building needs to function properly (heat, water,

33
Q

Trade secrets

A

A practice or process of a company that is not known outside the company

34
Q

Limited liability company

A

Its members are not personally liable for the companies debts

35
Q

Corporate tax

A

Tax imposed on the income of corporations.

36
Q

Executive summary

A

Summarizes a larger business report

37
Q

Zoning laws

A

Regulations that control how land and property can be used in a specific area

38
Q

Dimensions of diversity

A

Primary: Something you’re born with (Race, Gender, Ethnicity, Sexual orientation)
Secondary: Based on life experiences (Work experiences, Education, Marital Status, etc)
Tertiary: How we think/approach problems (Political affiliation, Seniority)

39
Q

BATNA

A

Best Alternative To a Negotiated Agreement (an alternative someone can pursue if a negotiation falls through)

40
Q

Walk away point

A

The minimum value/outcome a negotiator is willing to accept

41
Q

Operating procedures

A

A set of instructions that outline how to perform a task safely and consistently

42
Q

Channel members

A

Middle members that help move products from producers to consumers

43
Q

Formal business report

A

Presents research data to help make decisions and improve performance

44
Q

Market share

A

Percentage of a market’s total sales/revenue

45
Q

Marginal product

A

Change in output (additional output created as result of additional input

46
Q

Marginal revenu

A

Revenue, a business earns by selling an additional unit of its product

47
Q

Price fixing

A

An agreement among competitors to change pricing overall

48
Q

Economic sanctions

A

Commercial/financial penalties

49
Q

Tech monopoly

A

A company has control over technology that is difficult for competitors to reciprocate

50
Q

Vertical analysis

A

Represents amounts as percentages of a base figure

51
Q

Horizantal analysis

A

Represents changes over years or periods

52
Q

Fundamental analysis

A

Evaluating the value of an asset and predicting factors that could change it’s price in the future

53
Q

Financial statement

A

Shows a companies financial status

54
Q

Supply chain management

A

The process of coordinating the flow of goods, data and finances

55
Q

Rebute

A

To argue that a statement or claim is not true

56
Q

Sweepstakes

A

A contest (lottery)

57
Q

Current Asset

A

Assets to be converted to cash within a year

58
Q

Point for sale promotion

A

Marketing strategies that take place at the point of purchase to increase sales

59
Q

Jury of executive opinion

A

High level executives/experts get together to predict the future of a company

60
Q

High breadth

A

DECA (1 decks)

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