Marked Exam 1

Question 1

Trademark

Answer 1

-Is a symbol, design, or word used by a business to identify a good or service and is registered with the government to prevent its use by others.
-An example of intangible business property.

Question 2

Intangible Business Property

Answer 2

Non-physical assets that cannot be touched and are protected by law, such as trademarks, patents, copyrights, and goodwill, providing value to a business.

Question 3

Product Placement Fee

Answer 3

Payment made by a brand to have its products featured prominently in a film, television show, or other media, enhancing visibility and promoting brand awareness.

Question 4

Slotting Allowance/Fee

Answer 4

• A sum paid by a manufacturer to a retail store for making room for its products on the store shelves.
• Many individuals consider charging a slotting allowance unethical, although it is usually legally permissible.

Question 5

Trade Publications

Answer 5

specialized magazines, journals, or online platforms that provide news, insights, and information relevant to a specific industry or profession, serving as a resource for professionals to stay informed about trends, developments, and best practices.

Question 6

Mailing Lists

Answer 6

Collections of contact information, typically email addresses or physical addresses, used by businesses and organizations to send targeted communications, promotions, or newsletters to a specific group of recipients.

Question 7

Research Report

Answer 7

A report that presents the findings of a study or investigation, summarizing results, and conclusions to inform decision-making.

Question 8

Progress Report

Answer 8

• A report that outlines the current status of a project, detailing completed tasks, ongoing activities, challenges faced, and future plans.
• Used to keep departments informed about each other’s activities.

Question 9

Analytical Report

Answer 9

This report takes a close look at information to help explain it and suggest what to do next.

Question 10

Utility

Answer 10

Service or product that provides essential functions or benefits to people

Question 11

Statistical Report

Answer 11

This report uses numbers and charts to show important facts and trends in a way that’s easy to understand.

Question 12

Socialist Command Economy

Answer 12

Provide many human services programs, but they have high taxes on citizens to support the various programs.

Question 13

Traditional Economy

Answer 13

Produces only what people need in order to exist and does not provide human services programs.

Question 14

Communist Command Economy

Answer 14

Communist command
systems are characterized by government ownership and control of all business and economic activities,
with no freedom of choice for individuals.

Question 15

Economic System

Answer 15

Way a society organizes the production, distribution, and consumption of goods and services, determining how resources are allocated and how economic activities are managed.

Question 16

Contraction (+ how it leads to depression and recesssion)

Answer 16

• Phase of the business cycle characterized by
  decreased demand for goods and services, rising unemployment, increased saving by consumers, and
  reduced sales and profits for businesses.
• When a contraction continues for a long period of time and is
  severe, a depression exists. W
• When a contraction lasts for six consecutive months, a recession exists.