Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

32 Cards in this Set

  • Front
  • Back
A for of communication that resembles persuasion but differe in that it frequently has unethical intent or results is known as
What is the process when two parties discuss specific alternatives in order to find a mutually acceptable agreement?
What term refers to the amount of money lenders charge as a % of the amount loaned?
interest rate
What is the measure over time, of the cost of a fixed "market basket: of consumer goods and services>
consumer price index
What is the final market value of the toal output of all goods and services produced within a country;s geographic boundaries during a year's time?
gross domestic product
Economic fluctuations are the rise and fall of economic activity relative to the long-term growth trend of the economy. These are also referred to as __________
business cycles
what is a period of economic decline usually lasting at least 6 months?
What is the agreement amoung the US, Canda, and Mexico elininating all of their trade barriers?
The North American Free Trade Agreement or NAFTA
An effective persuasive message is emotionally appealing credible and
What is the act of motivationg an audience through communication to voluntarily change a particular belief, attitude, or behavior?
persuasion or selling
First persuaing your audience in writing that something is wrong and then suggesting how to remedy the situation is referred to as what type of approach?
Inventory holding and materials handling are two primary functionas opf what area of the distribution process?
storage or warehousing
Foreign made products imported without authorization of the original manufacturers are referred to as _________________goods.
gray market
Warehouse facilities are genrally designed for what type of storage
Raising funds for the start-up or operation of a business can come from personal sources or banks. This process is referred to as _________/
What is the negotiating process in which union leaders and company reps. engage to determine the terms and working conditions that are to be provided to employees.
collective bargaining
If output increases in smaller and smaller increments, the production process is likely being affected by what law or principle?
law of diminishing returns
When starting a compnay in a new area, what key measure of economic health might management first review?
unemployment rate
What is the measurement of sustained increase in the economy's average price level?
inflation rate
What is the path a product takes from producer or manufacturer to final user?
channel of distribution
What are the two broad categories of distribution channels-one in which goods and services move directly from the producer to the consumer and the other, in which goods and services move from the producer to channel members then to consumers or users?
direct and indirect
What is the generic term for channel members who operate between the producer and the consumer to help in the movement of goods and services?
When buyers and sllers are linked by computers and use computers to exchange orders and other routine info the process is called
electronic data interchange EDI
The speed and dependability with which products are delivered to the conumer is one meausr eof
customer service
What is the formal, printed record of a sale that includes all necessary info as to the buyer, the sller, items pruchased, amounts, prices, delivery date, credit or discount terms, etc?
What is the shipper's form usually accompanying incoming merchandise, which describes the type and numebr of each item in a shipment?
packing slip
In the order fulfillment process, the use of computers to reduce warehouse space and handling time and to track orders more efficiently is referred to as a
information system
What are all the activities involved in accpeting delivery of goods and preparing them for sale to customrs?
What is a contract between a business and insurance company to cover a certain business risk?
insurance policy
What is a state of mental or physical tiredness or weariness that can contribute to accidents?
Teachers, construction workers, doctors, hair stylists, and miners are examples of what type of economic resource?
planning and managing the use of credit is an aspect of what mareting function