Deca Test 2

Front 1

Tying Agreement

Back 1

A tying arrangement is an agreement between a seller and a buyer under which the seller agrees to sell a product or service (the tying product) to the buyer only on the condition that the buyer also purchases a different (or tied) product from the seller or the buyer agrees not to purchase the tied product from any other seller.

Front 2

Oligopoly

Back 2

A state of limited competition, in which a market is shared by a small number of producers or sellers.

Front 3

Regressive Taxes

Back 3

A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.

Front 4

Progressive Taxes

Back 4

A progressive tax is a tax in which the tax rate increases as the taxable amount increases.

Front 5

Proportional Taxes

Back 5

A proportional tax is a tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases.

Front 6

Corporate Taxes

Back 6

A corporate tax, also called corporation tax or company tax, is a tax on the income or capital of corporations or analogous legal entities.

Front 7

Causal Research

Back 7

Research that involves finding the effect of one thing on another or the effect of one variable on another, is called Causal Research.

Front 8

Stratrum

Back 8

A level or class to which people are assigned according to their social status, education, or income.

Front 9

Quota

Back 9

A limited or fixed number or amount of people or things, in particular. Retention

Front 10

Retention

Back 10

The continued possession, use, or control of something.

Front 11

Semantic Differential

Back 11

Semantic differential is a type of a rating scale designed to measure the connotative meaning of objects, events, and concepts. The connotations are used to derive the attitude towards the given object, event or concept.

Front 12

Capita Intensive Conversion

Back 12

Capital-intensive industries and businesses need the investment of large sums of money.

Front 13

Price Fixing

Back 13

The maintaining of prices at a certain level by agreement between competing sellers.

Front 14

Bait and Switch Tactics

Back 14

A fraud action in which a company “Baits” the consumer to come to their store in hopes for a product, which instead the company tricks them and switches their product. It’s meant as a way to appeal, while they don’t have the thing at all. E.G, “come buy our new TV for $5!” *goes to store* “Sorry, we only have microwaves right now but they’re for the same price”

Front 15

Engaging in Collusion

Back 15

Collusion is a non-competitive secret or sometimes illegal agreement between rivals that attempts to disrupt the market's equilibrium.

Front 16

Product Cannibalization

Back 16

In marketing strategy, cannibalization refers to a reduction in sales volume, sales revenue, or market share of one product as a result of the introduction of a new product by the same producer.

Front 17

Inventory Substitution

Back 17

When sufficient quantity of a requested item is unavailable, companies often fill the order by using an appropriate substitute item

Front 18

Shrinkage Inventory

Back 18

Inventory shrinkage is the excess amount of inventory listed in the accounting records, but which no longer exists in the actual inventory. Excessive shrinkage levels can indicate problems with inventory theft, damage, miscounting, incorrect units of measure, evaporation, or similar issues.

Front 19

Product Class

Back 19

Group or range of products that may serve as substitutes for one another, depending on how narrow or broad is the definition of the product.

Front 20

Corporate Brands

Back 20

Corporate branding refers to the practice of promoting the brand name of a corporate entity, as opposed to specific products or services. The activities and thinking that go into corporate branding are different from product and service

Front 21

Monopoly

Back 21

The exclusive possession or control of the supply or trade in a commodity or service

Front 22

Market Equilibrium

Back 22

Market equilibrium is a market state where the supply in the market is equal to the demand in the market.