DECA Business Administration Core
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Franchise -ANSWER a contractual agreement between a
parent company and a franchisee to distribute goods and services
Corporation -ANSWER a form of business ownership that is owned by stockholders who
have purchased units or shares of the company
Elastic Demand -ANSWER demand that changes according to changes in price
Inelastic Demand -ANSWER demand that is not affected by changes in price.
Unitary Demand -ANSWER when sales remain the
same because changes in supply and demand are equal
Tort -ANSWER a private wrongdoing that potentially harms another person or entity
Doctrine of Sovereign Immunity -ANSWER the universally accepted principle that each
nation has the right to manage its own government and develop
its own laws.
Job Enlargement -ANSWER combining different tasks into one position
Job Rotation -ANSWER moving from one job to another job within an organization
Specialization by Trade -ANSWER the type of work that a person performs in order to
earn a living, such as engineering, public-relations, or accounting.
Frictional Unemployment -ANSWER occurs because there are always workers who are in
transition
Structural Unemployment -ANSWER when the demand for certain types of workers
declines and is often due to technology advancements and the need for new skills
Cyclical Employment -ANSWER result of changes in the economic and business cycles
Wage Garnishments -ANSWER court-ordered initiatives that involve taking income taken
from an employee's salary and submitting it to another person or organization
Embezzlement -ANSWER theft of valuables that have been entrusted to another's care
, Securities Fraud -ANSWER the use of misleading sales tactics to persuade investors to
purchase securities
Espionage -ANSWER revealing confidential information without the source or owner's
permission and is often associated with spying
Variety-seeking Buying Behavior -ANSWER involves the purchase of routine items
Brand-insistence Buying Behavior -ANSWER buyer will not buy anything other than a
specific
brand or product
Automation -ANSWER involves the use of machines to carry out production tasks
Ergonomics -ANSWER the study of the use of equipment or technology and
its effects on workers' physical well-being
Innovation -ANSWER taking action to make the idea, item, or process available for
consumers to use
Business-format Franchise -ANSWER involves a close,continuous, working relationship
between the franchisor and the franchisee
Customer Complaints -ANSWER related to the business's policies and procedures
Consumer Products -ANSWER economic goods and services that are purchased and
used by the ultimate consumer
Capital Products -ANSWER purchased by businesses for use in their operations
Communist Command Economy -ANSWER capital for business investment is provided
by the government, which obtains it by taking the profits of businesses it owns and by
levying taxes
Traditional Economy -ANSWER people produce only what they must have in order to
exist
Market Economy (Free Enterprise) -ANSWER means of production and distribution are
owned and controlled by individuals and businesses
Operating Expenses -ANSWER costs of running the business
Gross Domestic Product -ANSWER final market value of the total output of all goods and
services produced within a country's geographic boundaries during a year's time
Exam With Correct
Answers||100%guaranteed Pass
Franchise -ANSWER a contractual agreement between a
parent company and a franchisee to distribute goods and services
Corporation -ANSWER a form of business ownership that is owned by stockholders who
have purchased units or shares of the company
Elastic Demand -ANSWER demand that changes according to changes in price
Inelastic Demand -ANSWER demand that is not affected by changes in price.
Unitary Demand -ANSWER when sales remain the
same because changes in supply and demand are equal
Tort -ANSWER a private wrongdoing that potentially harms another person or entity
Doctrine of Sovereign Immunity -ANSWER the universally accepted principle that each
nation has the right to manage its own government and develop
its own laws.
Job Enlargement -ANSWER combining different tasks into one position
Job Rotation -ANSWER moving from one job to another job within an organization
Specialization by Trade -ANSWER the type of work that a person performs in order to
earn a living, such as engineering, public-relations, or accounting.
Frictional Unemployment -ANSWER occurs because there are always workers who are in
transition
Structural Unemployment -ANSWER when the demand for certain types of workers
declines and is often due to technology advancements and the need for new skills
Cyclical Employment -ANSWER result of changes in the economic and business cycles
Wage Garnishments -ANSWER court-ordered initiatives that involve taking income taken
from an employee's salary and submitting it to another person or organization
Embezzlement -ANSWER theft of valuables that have been entrusted to another's care
, Securities Fraud -ANSWER the use of misleading sales tactics to persuade investors to
purchase securities
Espionage -ANSWER revealing confidential information without the source or owner's
permission and is often associated with spying
Variety-seeking Buying Behavior -ANSWER involves the purchase of routine items
Brand-insistence Buying Behavior -ANSWER buyer will not buy anything other than a
specific
brand or product
Automation -ANSWER involves the use of machines to carry out production tasks
Ergonomics -ANSWER the study of the use of equipment or technology and
its effects on workers' physical well-being
Innovation -ANSWER taking action to make the idea, item, or process available for
consumers to use
Business-format Franchise -ANSWER involves a close,continuous, working relationship
between the franchisor and the franchisee
Customer Complaints -ANSWER related to the business's policies and procedures
Consumer Products -ANSWER economic goods and services that are purchased and
used by the ultimate consumer
Capital Products -ANSWER purchased by businesses for use in their operations
Communist Command Economy -ANSWER capital for business investment is provided
by the government, which obtains it by taking the profits of businesses it owns and by
levying taxes
Traditional Economy -ANSWER people produce only what they must have in order to
exist
Market Economy (Free Enterprise) -ANSWER means of production and distribution are
owned and controlled by individuals and businesses
Operating Expenses -ANSWER costs of running the business
Gross Domestic Product -ANSWER final market value of the total output of all goods and
services produced within a country's geographic boundaries during a year's time
