Competition prep #1

What is the ultimate goal of all economic activity?

What is something that can satisfy a want or need?

When supply exceeds demand that is a

Locating a product where someone can buy it

A legal agreement between two or more people who start business together

What does the distribution function improve?

The exclusive possession or control of the supply or trade in a commodity or service

The Fifth P in the marketing mix if there is more than four

Economic situation where prices increase faster than the value of the goods and services

What is a marketing function that communicates information about goods, services, and images?

What is a tort?

Who owns a corporation?

The possibility of financial lost

What is the marketing word that describes a population in terms of personal characteristics?

What are the four P's of marketing?

What is the value of money placed on a good or service?

Segmentation of a market based on where people live

Changing raw materials or putting parts together to make them more useful