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General Management Review - NOCTI Flashcards | StudBud
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General Management Review - NOCTI
Items purchased after comparing prices and features
What is the growth stage?
General Management Review - NOCTI
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1
What is the growth stage?
When the product's sales rise quickly
When the product starts to decline.
When the product's sales reach their peak
When the product is first distributed and made available
2
Items purchased after comparing prices and features
shopping goods
specialty goods
unsought goods
consumer goods
3
goods that are not mass-produced but rather assembled individually or in small quantities
consumer goods
industrial goods
unsought goods
specialty goods
4
What is the introduction stage?
When the new product is first distributed and made available
When the new product reaches its peak and sales decrease
When the new product starts to decline
When the new product sales rise quickly
5
study of how society chooses to employ resources, and distribute them
economics
anatomy
paleontology
chemisty
6
What is the decline stage?
When the product's sales start to rise quickly
When the product's sales reach the peak and start decreasing
When the product is first made available and distributed
When the product starts to decline
7
The chance an entrepreneur takes of losing money on a business that may not prove profitable
Risk
Stocks
Profit
Money
8
studies the behavior of people and organizations in a particular market
Microeconomics
Macroeconomics
9
Allows workers to be more effective efficient and productive
Production does not benefit the company
Production benefit the company and business
Technology benefit workers and consumers
Technology does not benefit the workers
10
Freedom to make their own decisions, more opportuinity, and possible wealth
Advantages of Entrepreneuship
Disadvantages of Entrepreneuship
11
Macroeconomics micro economics
2 branches of economics
3 branches of economics
4 branches of economics
has nothing to do with economics
12
Entrepreneurship take risk and time and may lose benefits as to working for another company
Disadvantages of Entreprenurship
Advantages of Entrepreneuship
13
goods (as food or clothing) intended for direct use or consumption
specialty goods
industrial goods
shopping goods
consumer goods
14
physical products purchased by companies to produce other products
convenience goods
industrial goods
consumer goods
shopping goods
15
What are the four stages of a product life cycle?
introduction, growth, maturity, and decline
production, value, promotion, decline
introduction, packaging, shipping, decline
production, maturity, delivery, and decline
16
items that the consumer either does not know about or knows about but does not initially want
consumer goods
specialty goods
shopping goods
unsought goods
17
Customers, employees, stockholders, suppliers,dealers, bankers, etc
Stakeholders
Risk Takers
Entrepreneurs
Laborers
18
studies the operation of a nation's economy as a whole
Microeconomics
Macroeconomics
19
What is the maturity stage?
When the product first is distributed and made available
When the product starts to decline
When the product's sales peak and start to decrease
When the product's sales start to increase
20
allow private ownership, pass laws that enable contracts and ability to enforece in court. etc.
How govt. reduces risk for starting a business
How govt. increases risk for starting a business
21
money a business earns above the money that it spends for salaries and other expensses
Wealth
Profit
Income
Value
22
Inexpensive products that are purchased regularly and require little time and effort
convenience goods
industrial goods
specialty goods
consumer goods
