DECA MARKETING CLUSTER COMPLETE QUESTIONS AND
CORRECT VERIFIED ANSWERS(DETAILED ANSWERS)|
ALREADY GRADED A+
Discount - CORRECT ANSWERS-the amount by which the price of something is reduced
Union Stewards - CORRECT ANSWERS-Union members elected by their peers to handle any
grievances or problems members might have with management
Union President - CORRECT ANSWERS-Responsibilities include leading the union as a whole
rather than assisting individuals
Mediator - CORRECT ANSWERS-Involved in union negotiations, clarifying issues, and making
suggestions concerning the contract
Arbitrator - CORRECT ANSWERS-Assists with (union) negotiations; In binding arbitration, this
person's decisions regarding the contract are final and cannot be changed
Empathy - CORRECT ANSWERS-The ability to put yourself in another person's place
Self-Understanding - CORRECT ANSWERS-Comprehending one's personal needs interests,
values, and motives and recognizing their effects on one's behavior
Productivity - CORRECT ANSWERS-The amount and value of goods and services produced
(outputs) from set amounts of resources (inputs)
Consensus - CORRECT ANSWERS-Decision-making outcome that requires the substantial
agreement of each group member
Minority Rule - CORRECT ANSWERS-Few people in the group make the decision
,Vision - CORRECT ANSWERS-A desire for the future that is achieved over time with
determination and hard work
Store of Value - CORRECT ANSWERS-When money is saved rather than spent
Hidden Complaint - CORRECT ANSWERS-Conceal the real complaint a customer has by stating
another believable but secondary complaint for their dissatisfaction
Sincere Complaint - CORRECT ANSWERS-A complaint when the customer expresses an honest
dissatisfaction
Service Complaint - CORRECT ANSWERS-A complaint which results from poor service
Business Complaint - CORRECT ANSWERS-A complaint in which the customer is dissatisfied
with the business in general
Brand Promise - CORRECT ANSWERS-A business's agreement (spoken or unspoken) with
customers that will consistently meet their expectations and deliver on its brand characteristics and
values
Time Utility - CORRECT ANSWERS-When products are available at the time they are needed
or wanted by customers
Form Utility - CORRECT ANSWERS-Usefulness created by altering or changing the form or
shape of a good to make it more useful to customers
Place Utility - CORRECT ANSWERS-Usefulness created by making sure that goods and services
are available at the place where they are needed or wanted by customers.
Possession Utility - CORRECT ANSWERS-Usefulness created when ownership of a product is
transferred from the seller to the user
, Quality Control - CORRECT ANSWERS-Ensuring that products met predetermined standards
for excellence; also part of operations
Purchasing - CORRECT ANSWERS-Acquiring necessary goods and services; part of operations
Inventory Management - CORRECT ANSWERS-Supervising inventory levels to make sure there
is an appropriate balance; part of operations
Competition - CORRECT ANSWERS-Rivalry between two or more business to attract scarce
(limited) customer dollars
Profit Motive - CORRECT ANSWERS-Desire to make profit, which moves people to invest in
business
Inflation - CORRECT ANSWERS-Rapid rise in prices usually occurring when demand exceeds
supply
Excise Tax - CORRECT ANSWERS-A special government tax on certain items, such as gasoline,
certain businesses, cars, etc.
Subsidy - CORRECT ANSWERS-Government financial help given to a business
Bonds - CORRECT ANSWERS-A piece of paper (real or virtual) that says the governing body or
corporation will borrow your money at a particular interest rate for a particular period of time; Interest-
bearing certificates issued by government that promise to pay bond owners a certain sum at a specified
time
Medium of Exchange - CORRECT ANSWERS-When money is used to obtain goods and services
Bartering - CORRECT ANSWERS-Trading one good or service for another good or service
CORRECT VERIFIED ANSWERS(DETAILED ANSWERS)|
ALREADY GRADED A+
Discount - CORRECT ANSWERS-the amount by which the price of something is reduced
Union Stewards - CORRECT ANSWERS-Union members elected by their peers to handle any
grievances or problems members might have with management
Union President - CORRECT ANSWERS-Responsibilities include leading the union as a whole
rather than assisting individuals
Mediator - CORRECT ANSWERS-Involved in union negotiations, clarifying issues, and making
suggestions concerning the contract
Arbitrator - CORRECT ANSWERS-Assists with (union) negotiations; In binding arbitration, this
person's decisions regarding the contract are final and cannot be changed
Empathy - CORRECT ANSWERS-The ability to put yourself in another person's place
Self-Understanding - CORRECT ANSWERS-Comprehending one's personal needs interests,
values, and motives and recognizing their effects on one's behavior
Productivity - CORRECT ANSWERS-The amount and value of goods and services produced
(outputs) from set amounts of resources (inputs)
Consensus - CORRECT ANSWERS-Decision-making outcome that requires the substantial
agreement of each group member
Minority Rule - CORRECT ANSWERS-Few people in the group make the decision
,Vision - CORRECT ANSWERS-A desire for the future that is achieved over time with
determination and hard work
Store of Value - CORRECT ANSWERS-When money is saved rather than spent
Hidden Complaint - CORRECT ANSWERS-Conceal the real complaint a customer has by stating
another believable but secondary complaint for their dissatisfaction
Sincere Complaint - CORRECT ANSWERS-A complaint when the customer expresses an honest
dissatisfaction
Service Complaint - CORRECT ANSWERS-A complaint which results from poor service
Business Complaint - CORRECT ANSWERS-A complaint in which the customer is dissatisfied
with the business in general
Brand Promise - CORRECT ANSWERS-A business's agreement (spoken or unspoken) with
customers that will consistently meet their expectations and deliver on its brand characteristics and
values
Time Utility - CORRECT ANSWERS-When products are available at the time they are needed
or wanted by customers
Form Utility - CORRECT ANSWERS-Usefulness created by altering or changing the form or
shape of a good to make it more useful to customers
Place Utility - CORRECT ANSWERS-Usefulness created by making sure that goods and services
are available at the place where they are needed or wanted by customers.
Possession Utility - CORRECT ANSWERS-Usefulness created when ownership of a product is
transferred from the seller to the user
, Quality Control - CORRECT ANSWERS-Ensuring that products met predetermined standards
for excellence; also part of operations
Purchasing - CORRECT ANSWERS-Acquiring necessary goods and services; part of operations
Inventory Management - CORRECT ANSWERS-Supervising inventory levels to make sure there
is an appropriate balance; part of operations
Competition - CORRECT ANSWERS-Rivalry between two or more business to attract scarce
(limited) customer dollars
Profit Motive - CORRECT ANSWERS-Desire to make profit, which moves people to invest in
business
Inflation - CORRECT ANSWERS-Rapid rise in prices usually occurring when demand exceeds
supply
Excise Tax - CORRECT ANSWERS-A special government tax on certain items, such as gasoline,
certain businesses, cars, etc.
Subsidy - CORRECT ANSWERS-Government financial help given to a business
Bonds - CORRECT ANSWERS-A piece of paper (real or virtual) that says the governing body or
corporation will borrow your money at a particular interest rate for a particular period of time; Interest-
bearing certificates issued by government that promise to pay bond owners a certain sum at a specified
time
Medium of Exchange - CORRECT ANSWERS-When money is used to obtain goods and services
Bartering - CORRECT ANSWERS-Trading one good or service for another good or service
