DECA Business Management and Administration Exam 3 |LATEST RELEASE|

DECA Business Management and Administration Exam 3 |LATEST RELEASE| communication skills *Ans* the ability to convey information to another effectively and efficiently economics *Ans* attempts to explain how wealth is created and distributed in communities, how people allocate their resources and any matter that deals with human wants and their satisfaction. ethics *Ans* the basic concepts and fundamental principles of decent human conduct information management *Ans* information management is the process of collecting and analyzing data that can be used in the strategic decision making process for a business coordinate *Ans* to bring the different elements of an activity or an organization into a relationship that will ensure efficiency purchasing *Ans* to acquire goods or services to accomplish the goals of an organization chain of command *Ans* the order in which authority and power in an organization is delegated from top management to every employee at every level of the organization organization goals *Ans* the overall objectives, purpose and mission of a business that have been established by its management and communicated to its employees project *Ans* planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations channels *Ans* the path through which messages are delivered tariff *Ans* a tax on imports commitments *Ans* detailed examination of the elements or structure of something, typically as a basis for discussion or interpretation prioritize *Ans* a process that evaluates a group of items and ranks them in their order of importance or urgency purchase order *Ans* a legal contract between a buyer and seller that describes the