DECA Hospitality and Tourism Cluster
Exam | Questions And Answers |
Latest Exam 2026-2027 |
100%Guaranteed Passs!
Misrepresentation -ANSWER When one party makes a false statement to a second party
with the intention of making the second party behave a certain way.
Ex. Business falsifies records to convince bank to lend it money
Negligence -ANSWER When business is not doing something necessary or required.
Ex. When hotel breaches the duty of care
Fraud -ANSWER Deception purposely carried out to secure unfair or unlawful gain.
Ex. Providing inaccurate information on tax returns and money laundering
Exclusive Dealing -ANSWER An illegal agreement that forbids customers from buying
goods and services from competitors. Many jurisdictions consider this practice illegal
when it restricts trade.
Price Discrimination -ANSWER An illegal activity in which a business charges different
customers different prices for similar amounts and types of products.
Full-line forcing -ANSWER Occurs when a producer requires its intermediaries to carry an
entire line of its products rather than one or a few of the items. Can be an illegal activity
if it restrains trade and competition
Selective Distribution -ANSWER A distribution strategy in which a producer sells a product
through a limited number of middlemen in a geographic area
Operations Management -ANSWER The process of planning, controlling, and monitoring
the day-to-day activities required for continued business functioning.
Selling -ANSWER Marketing function that involves determining client needs and wants
and responding through planned, personalized communication that influences purchase
decisions and enhances future business opportunities.
Information Management -ANSWER The process of accessing, processing, maintaining,
evaluating, and disseminating knowledge, facts, or data to assist business decision
making
Pricing -ANSWER Marketing function that involves determining and adjusting prices to
maximize return and meet customers' perceptions of value.
, Product/Service Management -ANSWER The marketing function that involves obtaining,
developing, maintaining, and improving a product or service mix in response to market
opportunities
Production -ANSWER The process or activity of producing goods and services
Mapping -ANSWER Visual Method of note-taking that involves writing the main topic in a
circle and writing supporting ideas on lines around the circle.
Cornell Method -ANSWER Taking notes in two columns
Blind Carbon Copy (BCC) -ANSWER Hides email addresses from the email's recipients
Place -ANSWER Making sure that goods and/or services are available where customers
need or want them. Can be a physical location or a site where a want or need is fulfilled.
Ex. Hotel building lodging facility on Interstate 95
Elastic Demand -ANSWER When demand is elastic, consumers adjust demand for
products based on price. Demand changes when prices change. Prices go up =
consumers purchase less
Inelastic Demand -ANSWER Demand for a good or service is constant, event if product's
price changes
Complementary -ANSWER Products that are usually together
Stages of Business Cycle -ANSWER Business cycle involves fluctuating levels of
economic activity ranging from expansion to contraction.
In periods of expansion, there is an increase in business growth, employment, and
business and consumer spending.
In periods of contraction, business growth slows, unemployment rises, and consumer
spending decreases.
Underemployment -ANSWER Occurs when a worker is not working enough or is not fully
using her/his skills and talents. Underemployment rate takes into account friction
unemployment, downsizing, and technological unemployment.
Floating Exchange Rate -ANSWER Determined by supply and demand. Changes
depending on the market.
Pegged/Fixed Exchange Rate -ANSWER Set by government and does not change based
on market's fluctuations
Mutual Funds -ANSWER Carries the advantage of professional management. Comes with
a high price. High fees may cut into a mutual fund investor's returns. Mutual fund
Exam | Questions And Answers |
Latest Exam 2026-2027 |
100%Guaranteed Passs!
Misrepresentation -ANSWER When one party makes a false statement to a second party
with the intention of making the second party behave a certain way.
Ex. Business falsifies records to convince bank to lend it money
Negligence -ANSWER When business is not doing something necessary or required.
Ex. When hotel breaches the duty of care
Fraud -ANSWER Deception purposely carried out to secure unfair or unlawful gain.
Ex. Providing inaccurate information on tax returns and money laundering
Exclusive Dealing -ANSWER An illegal agreement that forbids customers from buying
goods and services from competitors. Many jurisdictions consider this practice illegal
when it restricts trade.
Price Discrimination -ANSWER An illegal activity in which a business charges different
customers different prices for similar amounts and types of products.
Full-line forcing -ANSWER Occurs when a producer requires its intermediaries to carry an
entire line of its products rather than one or a few of the items. Can be an illegal activity
if it restrains trade and competition
Selective Distribution -ANSWER A distribution strategy in which a producer sells a product
through a limited number of middlemen in a geographic area
Operations Management -ANSWER The process of planning, controlling, and monitoring
the day-to-day activities required for continued business functioning.
Selling -ANSWER Marketing function that involves determining client needs and wants
and responding through planned, personalized communication that influences purchase
decisions and enhances future business opportunities.
Information Management -ANSWER The process of accessing, processing, maintaining,
evaluating, and disseminating knowledge, facts, or data to assist business decision
making
Pricing -ANSWER Marketing function that involves determining and adjusting prices to
maximize return and meet customers' perceptions of value.
, Product/Service Management -ANSWER The marketing function that involves obtaining,
developing, maintaining, and improving a product or service mix in response to market
opportunities
Production -ANSWER The process or activity of producing goods and services
Mapping -ANSWER Visual Method of note-taking that involves writing the main topic in a
circle and writing supporting ideas on lines around the circle.
Cornell Method -ANSWER Taking notes in two columns
Blind Carbon Copy (BCC) -ANSWER Hides email addresses from the email's recipients
Place -ANSWER Making sure that goods and/or services are available where customers
need or want them. Can be a physical location or a site where a want or need is fulfilled.
Ex. Hotel building lodging facility on Interstate 95
Elastic Demand -ANSWER When demand is elastic, consumers adjust demand for
products based on price. Demand changes when prices change. Prices go up =
consumers purchase less
Inelastic Demand -ANSWER Demand for a good or service is constant, event if product's
price changes
Complementary -ANSWER Products that are usually together
Stages of Business Cycle -ANSWER Business cycle involves fluctuating levels of
economic activity ranging from expansion to contraction.
In periods of expansion, there is an increase in business growth, employment, and
business and consumer spending.
In periods of contraction, business growth slows, unemployment rises, and consumer
spending decreases.
Underemployment -ANSWER Occurs when a worker is not working enough or is not fully
using her/his skills and talents. Underemployment rate takes into account friction
unemployment, downsizing, and technological unemployment.
Floating Exchange Rate -ANSWER Determined by supply and demand. Changes
depending on the market.
Pegged/Fixed Exchange Rate -ANSWER Set by government and does not change based
on market's fluctuations
Mutual Funds -ANSWER Carries the advantage of professional management. Comes with
a high price. High fees may cut into a mutual fund investor's returns. Mutual fund
