What is a target market?

a specific group of consumers a busines is trying to sell to

What is a trade margin?

The difference between unit sales price and unit cost

What does it mean when a product/service has a "niche" market?

it is targeted towards a very small group of people

What does EBIT stand for?

Earnings before interests and taxes

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BUSINESS TERMS

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Questions 15

Answers

1
What is "valuation"?
the overall evaluation of a business
the value of a business' products/services
a business' financial progress
What a business is worth
2
the combination of product,pricing,promotion,and distribution strategies usedto market products
marketing mix
tactics
combined marketing strategy
yes
3
The amount a business makes after subtracting expenses is called
Cost of Goods Sold
Accounts Receivable
Sales
Profit
4
How is a business' EQUITY (value of a business) calculated?
Assets + Liabilities
Assets - Liabilities
Revenues + Expenses
Revenue - Expenses
5
A business entity owned and operated by a single person is called
sole proprietorship
brand
entrepreneur
ian
6
What do you call a business' debts (money that they owe to others)?
Loss
Liabilities
Fixed Cost
Net Loss
7
What is an example of an asset that businesses own?
Cash
Equipment
Accounts Receivable
All of the above
8
"the loss of potential gain from other alternatives when one alternative is chosen"
operating leverage
opportunity cost
Laggards
relevant cost
9
What is a target market?
a place where people buy and sell arrows and targets
none of the above
a specific group of consumers a busines is trying to sell to
A market aimed specifically at the wealthy
10
What is a trade margin?
none of the above
The difference between unit sales price and unit cost
The practice of improving a product to increase sales price
different levels of a production process
11
"A financial statement of the assets,liabilities and equity of a business at a particular date"
Balance sheet
Income statement
Ledger
Trial balance
12
What does it mean when a product/service has a "niche" market?
the product/service appeals to everybody
it is targeted towards a very large group of people
it is targeted towards a very small group of people
no one wants to buy the product/service at all
13
What does EBIT stand for?
Equity before interests and taxes
Earnings before interests and taxes
Earnings besides income and trades
Effectiveness bob ian teagan
14
what does GDP stand for
gross domestic product
grown demon porch
great domestic product
great distinctive products
15
How many definitions are there for the word "market"?
2
4
1
3

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