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1. Telecommunications Answer: Transmission of information over distances using electronic
means.
2. telecommunications examples Answer:: Television, radio, internet, telephony, satellite
communications.
3. Experience Goods vs. Search Goods Answer: Experience Goods: Consumers must
experience the product to evaluate quality (e.g., TV shows, movies, video games).
Search Goods Answer: Consumers can assess quality before purchase (e.g.,
appliances, books). Media Products (TV shows, video games) fall into Experience
Goods
4. Management Answer: The process of planning, organizing, leading, and controlling
resources to achieve organiza- tional goals eflciently and ettectively.
5. 4 key functions of management Answer: Planning Answer: Setting
goals, developing strategies. Organizing Answer: Assigning tasks, allocating
resources.
Leading Answer: Motivating, guiding employees.
Controlling Answer: Monitoring performance, making adjustments.
6. . Efficiency vs. Effectiveness Answer: Eflciency Answer: Doing tasks with
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