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Sports and Entertainment Marketing Chapter 2 Flashcards | StudBud
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Sports and Entertainment Marketing Chapter 2
Sports and Entertainment Marketing Chapter 2
26 terms
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a quiz about chapter 2
Flashcards
26 cards
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Questions
26
Answers
1
What is profit?
The total amount of money a company makes
What a company uses to buy things
Total amount of money that a company uses to make something
The total amount of money a co makes after expenses are paid
2
True or false: economics is the study of how money affect the people/the economy
True
False
3
True or false: return on investment- the income from a venture that is distributed to investors
Ture
False
True
Falso
4
___ is the possibility of financial gain or loss or personal injury.
Sports
Risk
Chance
Gambling
5
BONUS: WHATS YOUR FAVORITE HOLIDAY?
THANKSGIVING
HALLOWEEN
BIRTHDAY
CHRISTMAS
6
____ is the study of how goods and services are produced, distributed, and consumed
Economic Studies
Macroeconomics
Microeconomics
Economics
7
What does liable mean?
Being in charge of something
A business is responsible for damages
Being able to lie easily
A business is not responsible for damages
8
___ is making decisions to use resources in ways that result in the greatest profit.
Profit
Revenue
Profit Motive
Money making
9
___ is when a product/service is available where a the consumer wants it
Place Utility
Price Utility
Online Utility
Store Utility
10
What are principles?
High standards of people who run a school
People who are in charge of schools
The things which you wish to base your house on
High standards of rules/guidelines in business/personal life
11
True or false: a balance sheet shows the companies assets and net worth.
False
True
12
What is possession utility?
Making a product/service available everywhere
Making it easy for someone to posses a product/service
Making a product/service available at an affordable price
Making a product/service available a lot and at home
13
True or False: Natural risk can be avoidable
True
False
14
What is an income statement?
Shows all revenues received and expenses incurred over time
A statement about money
Shows all revenues/expenses incurred at one point in time
Shows how much money you make per year
15
What is economic utility?
How easy it is for a product to enter into the economy
Amount of satisfaction people receive from products/services
How a product is used in the economy
The amount of use a product/service gets
16
The difference between assets and liabilities is _____
Budget
Income
Net Worth
Revenue
17
What is revenue?
Products that a company makes
The amount of money it takes to make a single product
The amount of $ that a company makes after expenses are paid
The total amount of money a company company makes from goods
18
___ is when a product/service is available when the consumer wants it
Online Utility
Place Utility
Time Utility
General Store
19
True/false: Macroeconomics is the study of relationships between individual customers+producers
False
True
20
What is a kind of risk?
Speculative Risk
Insueable Risk
Unisueable Risk
Speculator Risk
21
True or false: risk management is preventing or lessening the negative impacts of risk
True
False
22
What is a forecast?
What the weather people predict on the news
Report that predicts the expenses and revenues from an event
Being able to predict the future
Budgeting and finding ways to pay the cost of doing business
23
___ is when the physical characteristics of a product/service are improved
From Utility
Possession Utility
Physical Utility
Form Utility
24
What is ethics?
Using different ways to promote stuff to different cultures
System of deciding what is right/wrong in a reasoned manner
System of deciding what is right/wrong in unreasoned manner
Knowing the different cultures from around the world
25
What is a budget?
Seeing your bank account and not spending more than you have
A plan for how available funds will be spent
Managing costs so they don't exceed revenues
Helping customers pay for products or services
26
What is Human Risk?
A risk for humans
inadequately trained employees
dishonest customers/employers
dishonest customers/emplyees
