What is a Target Audience?

The specific group of consumers a company is trying to sell a product to.

What does the equilibrium point tell us?

The price where the quantity supplied equals the quantity demanded.

When the quantity of products produced excedes demand.

What is the Law of Supply?

As prices increases, the quantity offered will also increase.

The money required to produce/aquire products.

What is the Law of Supply and Demand?

If demand for a product exceeds supply, prices will rise, and visa-versa.

What is the Law of Demand?

As price increases, the quantity of products demanded will decrease.

Money gained before calculating profit.

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HHS DECA Review

15 termsStudBud Administration

Here is a review of several key business and marketing vocabulary and concepts.

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Questions 15

Answers

1
Wich axis displays Quantity?
The Y-Axis.
The intersection between the lines.
The X-axis.
The Z-Axis.
2
What is a Target Audience?
The people who buy stocks, shares, and bonds.
The suppliers selling a product to a specific age group.
When the Space Cats blasted evrey theator and music hall on the planet.
The specific group of consumers a company is trying to sell a product to.
3
Age, Gender, Occupation, and Location are all examples of a Potential Target Audience.
False
True
4
The same company sells that product for a total of $2,000 , this is their ______ .
Revenue
Profit
Cost
Space Cat reappropriation fee.
5
What does the equilibrium point tell us?
The maximum a company can charge for there product.
The maximum consumers can demand of a product.
The price where the quantity supplied equals the quantity demanded.
The point where the Space Cats get what they want without having to zap us.
6
True or False: In total, the companies profit was $3,000?
True
False
7
Tue or False: Net Profits are calculated by subtracting costs from revenue?
False
True
8
Wich axis displays Price?
The Z-Axis.
The intersection between the lines.
The Y-Axis.
The X-axis.
9
What is a surplus?
When the quantity of products produced excedes demand.
when their is a shortage of products.
When the products produced meets the quantity demand.
The number of humans the Space Cats jetisoned into the space.
10
A company orders $1,000 worth of product to sell, this is their ______ .
Cost
Profit
Revenue
Space Cat reappropriation fee.
11
What is the Law of Supply?
Earth supplying the Space Cats with resources.
Governments should willingly supply essential goods to their people.
Distributors will allways send supplies to where they are needed.
As prices increases, the quantity offered will also increase.
12
What are costs?
Money lost from inflation.
The people lost resisting the Space Cats.
Money earned from selling products.
The money required to produce/aquire products.
13
What is the Law of Supply and Demand?
Space Cats will allways demand more then can be supply.
If demand for a product exceeds supply, prices will rise, and visa-versa.
it is impossible for supply to ever excede demand.
Supplies are allways given to those who demand them.
14
What is the Law of Demand?
Space Cats demanding the complete and absolute surrender of Earth.
As price increases, the quantity of products demanded will decrease.
Suppliers demanding a certain price for a specific product.
Consumers demanding a certain price for a specific good.
15
What is revenue?
Money gained before calculating profit.
Money spent to produce/aquire products.
Money left after acounting for profit.
The resources stolen by the Space Cats.

HHS DECA Review Flashcards | StudBud