DECA MARKETING CLUSTER EXAM | COMPLETE SOLUTIONS | 100% CORRECT
case law - primary source of law that is based on previous court decisions
duty of care - basic principle that expects all individuals and businesses to exhibit socially responsible behavior by using caution to prevent ...
case law - primary source of law that is based on previous court decisions
duty of care - basic principle that expects all individuals and businesses to exhibit
socially responsible behavior by using caution to prevent harm and by watching out for
one another
tort - private wrongdoing that potentially harms another person or entity
doctrine of sovereign immunity - universally accepted principle that each nation has the
right to manage it sown government and develop its own laws
exclusive distribution - means selling a product through just one middleman in a
geographic area
agents - business or individuals that assist in the sale and/or promotion of goods and
services but do not take title to them
wholesalers - businesses that buy goods from producers or agents and sell to retailers
retailers - business that buy consumer goods and services and sell them to ultimate
consumers
industrial users - businesses that buy materials or goods that will be used to make
other goods and services or in the operation of the business
refusing to sell to uncooperative retailers - violate the antitrust acts
horizontal conflict - disagreement among channel members that perform distribution
activities at the same level
quantitative primary data - involves several steps; pre-writing, drafting, revising, editing,
and publishing
continuous improvement - when a business evaluates its business processes to make
them more efficient and effective
employee training - involves educating workers on how to best perform their jobs
, organizational structuring - the way business functions relate within a company
business process management - aligning a company's objectives and activities with
customer's needs
private enterprise - economic system in which individuals and groups own or control
most or all o the means of production
spend rather than save - keep the economy strong
indications of economic growth - rising employment, wages, and profits
valuing diversity - openly acknowledging differences and believing that they are assets
instead of problems
assertive behavior - reduce anxiety/conflict and to improve self-esteem, mutual respect
and understanding, cooperation and the general quality of relationships
aggressive behavior - a willingness to ignore the rights of others or exploiting others to
achieve personal goals
passive behavior - a failure to exercise personal rights and a lack of respect for
personal needs
ambivalent behavior - waffling back and forth from one side of an issue to the opposite
side
sales tax - fee that the government charges on retail products
property tax - tax on land and buildings
excise tax - specific type of sales tax on specific goods such as gasoline, cigarettes,
and alcohol
income tax - tax on the income of a person's earning
accounting function - collects and records the financial information in the appropriate
format
accrual accounting method - records transactions at the time they occur even if no
money changes hands at the time
budgets - guide financial decisions, such as what to buy and how much to pay
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Mboffin. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
