Chp 3 SEM Means Business

__________ is the income that an investment provides for the investor.

Contingency planning an event begins w/hiring an experienced, trained safety coordinator.

__________ is the result of making a product or service available when the consumer wants it.

Making a product or service desirable to international consumer requires knowledge of

Bringing a new professional team to a major city is an example of a(n)

When someone is __________ , he or she is legally responsible for damages.

Costs of sports and entertainment events include

The rules and codes of conduct on which ethical behavior is based are referred to as __________.

Venture capital is financing to start a company in return for owning part of the company.

Being proactive is the right way to manage risk

__________ is a company's wealth in the form of money or property.

The _________ is developed to predict the cost of expenses and expected revenues from an event.

Which two items influence how an individual’s ethics are developed?

Fans influence the bad behavior of athletes by

Which of the following statements is true?

________ are a system of deciding what is right or wrong in a reasoned and impartial manner.

_________ development stages in which we go from childish to mature and responsible behavior.

The amount of satisfaction you believe you receive from entertainment is referred to as

Limited time & money to spend on entertainment requires decisions about how to spend resources.

__________ are a system of deciding what is right or wrong in a reasoned and impartial manner.

Scarcity occurs when

Ethical behavior involves

An activity that will produce money is called a(n)

__________ is the study of how goods and services are produced, distributed, and consumed.

Pick 2 Blocks of examples of risk that must be insured for an amusement park such as Disney.

The preparation for an unexpected emergency is called risk management.​

The best entertainment decisions are both effective and ethical.

Risk cannot be controlled and must always be covered by purchasing insurance.

Profit is

To reach latino customers, which of the following sports might present the best opportunity?

Forecasting involves

__________ occurs when a business assumes the cost of a risk.

Check the three elements are included on the balance sheet.

Ethics is doing what's easy.

Principles have no effect on business.

Risk retention involves

A(n) ________ is a plan for how a business will spend money.

The __________ shows assets, liabilities, and net worth.

Risks can be classified as controllable, insurable, and involving gain or loss.

An ethical dilemma occurs when a person has to choose between what is right and wrong to do.

An economic impact is the effect produced by decisions made by consumers and businesses.

When the physical characteristics of a product/ service are improved, it is possession utility.

A perception exists that sports and entertainment celebrities no longer value ethics.

When a business does not make enough revenue to cover expenses, it operates at a profit.

Which is example is a controllable risk?

When a business is legally responsible for losses suffered by an injured person, it is

What is the profit motive?

Marketing is the study of how goods/services are produced, distributed, & consumed.

__________ is the possibility of financial gain, loss, or personal injury.​

The greatest reason for being in business is

Building a company without outside assistance is often referred to as crowdsourcing.