DECA BUSINESS ADMINISTRATION CORE EXAM
Franchise - Answers -a contractual agreement between a
parent company and a franchisee to distribute goods and services
Corporation - Answers -a form of business ownership that is owned by stockholders
who
have purchased units or shares of the company
Elastic Demand - Answers -demand that changes according to changes in price
Inelastic Demand - Answers -demand that is not affected by changes in price.
Unitary Demand - Answers -when sales remain the
same because changes in supply and demand are equal
Tort - Answers -a private wrongdoing that potentially harms another person or entity
Doctrine of Sovereign Immunity - Answers -the universally accepted principle that each
nation has the right to manage its own government and develop
its own laws.
Job Enlargement - Answers -combining different tasks into one position
Job Rotation - Answers -moving from one job to another job within an organization
Specialization by Trade - Answers -the type of work that a person performs in order to
earn a living, such as engineering, public-relations, or accounting.
Frictional Unemployment - Answers -occurs because there are always workers who are
in transition
Structural Unemployment - Answers -when the demand for certain types of workers
declines and is often due to technology advancements and the need for new skills
Cyclical Employment - Answers -result of changes in the economic and business
cycles
Wage Garnishments - Answers -court-ordered initiatives that involve taking income
taken from an employee's salary and submitting it to another person or organization
Embezzlement - Answers -theft of valuables that have been entrusted to another's care
, Securities Fraud - Answers -the use of misleading sales tactics to persuade investors
to purchase securities
Espionage - Answers -revealing confidential information without the source or owner's
permission and is often associated with spying
Variety-seeking Buying Behavior - Answers -involves the purchase of routine items
Brand-insistence Buying Behavior - Answers -buyer will not buy anything other than a
specific
brand or product
Automation - Answers -involves the use of machines to carry out production tasks
Ergonomics - Answers -the study of the use of equipment or technology and
its effects on workers' physical well-being
Innovation - Answers -taking action to make the idea, item, or process available for
consumers to use
Business-format Franchise - Answers -involves a close,continuous, working
relationship between the franchisor and the franchisee
Customer Complaints - Answers -related to the business's policies and procedures
Consumer Products - Answers -economic goods and services that are purchased and
used by the ultimate consumer
Capital Products - Answers -purchased by businesses for use in their operations
Communist Command Economy - Answers -capital for business investment is provided
by the government, which obtains it by taking the profits of businesses it owns and by
levying taxes
Traditional Economy - Answers -people produce only what they must have in order to
exist
Market Economy (Free Enterprise) - Answers -means of production and distribution are
owned and controlled by individuals and businesses
Operating Expenses - Answers -costs of running the business
Gross Domestic Product - Answers -final market value of the total output of all goods
and
services produced within a country's geographic boundaries during a year's time
Franchise - Answers -a contractual agreement between a
parent company and a franchisee to distribute goods and services
Corporation - Answers -a form of business ownership that is owned by stockholders
who
have purchased units or shares of the company
Elastic Demand - Answers -demand that changes according to changes in price
Inelastic Demand - Answers -demand that is not affected by changes in price.
Unitary Demand - Answers -when sales remain the
same because changes in supply and demand are equal
Tort - Answers -a private wrongdoing that potentially harms another person or entity
Doctrine of Sovereign Immunity - Answers -the universally accepted principle that each
nation has the right to manage its own government and develop
its own laws.
Job Enlargement - Answers -combining different tasks into one position
Job Rotation - Answers -moving from one job to another job within an organization
Specialization by Trade - Answers -the type of work that a person performs in order to
earn a living, such as engineering, public-relations, or accounting.
Frictional Unemployment - Answers -occurs because there are always workers who are
in transition
Structural Unemployment - Answers -when the demand for certain types of workers
declines and is often due to technology advancements and the need for new skills
Cyclical Employment - Answers -result of changes in the economic and business
cycles
Wage Garnishments - Answers -court-ordered initiatives that involve taking income
taken from an employee's salary and submitting it to another person or organization
Embezzlement - Answers -theft of valuables that have been entrusted to another's care
, Securities Fraud - Answers -the use of misleading sales tactics to persuade investors
to purchase securities
Espionage - Answers -revealing confidential information without the source or owner's
permission and is often associated with spying
Variety-seeking Buying Behavior - Answers -involves the purchase of routine items
Brand-insistence Buying Behavior - Answers -buyer will not buy anything other than a
specific
brand or product
Automation - Answers -involves the use of machines to carry out production tasks
Ergonomics - Answers -the study of the use of equipment or technology and
its effects on workers' physical well-being
Innovation - Answers -taking action to make the idea, item, or process available for
consumers to use
Business-format Franchise - Answers -involves a close,continuous, working
relationship between the franchisor and the franchisee
Customer Complaints - Answers -related to the business's policies and procedures
Consumer Products - Answers -economic goods and services that are purchased and
used by the ultimate consumer
Capital Products - Answers -purchased by businesses for use in their operations
Communist Command Economy - Answers -capital for business investment is provided
by the government, which obtains it by taking the profits of businesses it owns and by
levying taxes
Traditional Economy - Answers -people produce only what they must have in order to
exist
Market Economy (Free Enterprise) - Answers -means of production and distribution are
owned and controlled by individuals and businesses
Operating Expenses - Answers -costs of running the business
Gross Domestic Product - Answers -final market value of the total output of all goods
and
services produced within a country's geographic boundaries during a year's time
