DECA Principles of Business Management 2022

Psychographics - ANSWER-lifestyle choices, behavior, or personality characteristics Demographics - ANSWER-the distribution of human population groups Geographics - ANSWER-segmentation of the market based on where people live Place Utility - ANSWER-the usefulness of a good or service as a function of the location at which it is made available Form Utility - ANSWERPossession Utility - ANSWER-the exchange of a product for money Equity Financing - ANSWER-arranging funding by selling ownership shares in the company, publicly or privately Liquidation - ANSWER-business brought to an end Secured Credit - ANSWER-loans secured by the assets of your business, personal assets, or both Zoning - ANSWER-to divide a city into sections for different purposes Employer Identification Number - ANSWER-A number assigned to an employer for the purpose of identification of tax accounts Due Dilligence - ANSWER-reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something Working Capital - ANSWER-the difference between current assets and current liabilities, used in day-to-day trading operations Venture Capital - ANSWER-capital invested in a project in which there is a substantial element of risk, typically a new or expanding business Joint Venture - ANSWERPatent - ANSWER-exclusive rights over an invention Audit - ANSWER-examination of account Dividend - ANSWER-payment given to a shareholder Liabilities - ANSWER-what the business owes to others (debts) Assets - ANSWER-anything of value that is owned Liquidity - ANSWER-the availability of liquid assets (cash) to a market or company Accrual Accounting - ANSWER-income is recorded when earned regardless of when payment is made Budgeting Applications - ANSWER-computer applications for creating both business and personal budgets Stakeholder - ANSWER-individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. Bear Market - ANSWER-a stock market with declining stock prices Bull Market - ANSWER-a steady rise in the stock market over a period of time After-Tax Return - ANSWER-the return from an investment or business activity after taxes are subtracted Ratio Analysis - ANSWER-a form of financial statement analysis in which items on the financial statements are expressed as ratios of one another Consumer Price Index - ANSWER-governments main way to measure inflation GAAP - ANSWER-generally accepted accounting practices SWOT Analysis - ANSWER-strengths, weaknesses, opportunities, threats Marketing Mix - ANSWER-Product, Price, Place, Promotion Cost Benefit Analysis - ANSWER-It can be explained as a procedure for estimating all costs involved and possible profits to be derived from a business opportunity or proposal. Return on Investment - ANSWER-the percentage of the total cost of purchasing an investment and the profit made from selling that investment Economics - ANSWER-study of how people and societies use limited resources to satisfy unlimited wants Economic Activities - ANSWER-acti