DECA set 2
Terms
undefined, object
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- A for of communication that resembles persuasion but differe in that it frequently has unethical intent or results is known as
- manipulation
- What is the process when two parties discuss specific alternatives in order to find a mutually acceptable agreement?
- negotiation
- What term refers to the amount of money lenders charge as a % of the amount loaned?
- interest rate
- What is the measure over time, of the cost of a fixed "market basket: of consumer goods and services>
- consumer price index
- What is the final market value of the toal output of all goods and services produced within a country;s geographic boundaries during a year's time?
- gross domestic product
- Economic fluctuations are the rise and fall of economic activity relative to the long-term growth trend of the economy. These are also referred to as __________
- business cycles
- what is a period of economic decline usually lasting at least 6 months?
- recession
- What is the agreement amoung the US, Canda, and Mexico elininating all of their trade barriers?
- The North American Free Trade Agreement or NAFTA
- An effective persuasive message is emotionally appealing credible and
- logical
- What is the act of motivationg an audience through communication to voluntarily change a particular belief, attitude, or behavior?
- persuasion or selling
- First persuaing your audience in writing that something is wrong and then suggesting how to remedy the situation is referred to as what type of approach?
- problem-solution
- Inventory holding and materials handling are two primary functionas opf what area of the distribution process?
- storage or warehousing
- Foreign made products imported without authorization of the original manufacturers are referred to as _________________goods.
- gray market
- Warehouse facilities are genrally designed for what type of storage
- bulk
- Raising funds for the start-up or operation of a business can come from personal sources or banks. This process is referred to as _________/
- financing
- What is the negotiating process in which union leaders and company reps. engage to determine the terms and working conditions that are to be provided to employees.
- collective bargaining
- If output increases in smaller and smaller increments, the production process is likely being affected by what law or principle?
- law of diminishing returns
- When starting a compnay in a new area, what key measure of economic health might management first review?
- unemployment rate
- What is the measurement of sustained increase in the economy's average price level?
- inflation rate
- What is the path a product takes from producer or manufacturer to final user?
- channel of distribution
- What are the two broad categories of distribution channels-one in which goods and services move directly from the producer to the consumer and the other, in which goods and services move from the producer to channel members then to consumers or users?
- direct and indirect
- What is the generic term for channel members who operate between the producer and the consumer to help in the movement of goods and services?
- intermediaries
- When buyers and sllers are linked by computers and use computers to exchange orders and other routine info the process is called
- electronic data interchange EDI
- The speed and dependability with which products are delivered to the conumer is one meausr eof
- customer service
- What is the formal, printed record of a sale that includes all necessary info as to the buyer, the sller, items pruchased, amounts, prices, delivery date, credit or discount terms, etc?
- invoice
- What is the shipper's form usually accompanying incoming merchandise, which describes the type and numebr of each item in a shipment?
- packing slip
- In the order fulfillment process, the use of computers to reduce warehouse space and handling time and to track orders more efficiently is referred to as a
- information system
- What are all the activities involved in accpeting delivery of goods and preparing them for sale to customrs?
- receiving
- What is a contract between a business and insurance company to cover a certain business risk?
- insurance policy
- What is a state of mental or physical tiredness or weariness that can contribute to accidents?
- fatigue
- Teachers, construction workers, doctors, hair stylists, and miners are examples of what type of economic resource?
- human
- planning and managing the use of credit is an aspect of what mareting function
- financing