Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
11 Cards in this Set
- Front
- Back
Environmental forces- |
1. social 2. technological 3. economic 4. competitive 5. regulatory |
|
Social- |
the demographic characteristics and the culture of the population |
|
demographics- |
description of a population according to characteristics such as age, gender, ethnicity, income, and occupation |
|
generational cohorts |
baby boomers-1946-1964 generation x- 1965-1976 generation y (millennial)-1977 and 1994 |
|
culture- |
the set of values, ideas, and attitudes that is learned and shared among the members of a group |
|
Economic forces- |
pertains to the income, expenditures, and resources that affect the cost of running a business or household. |
|
Macroeconomic conditions- |
during recessions, businesses decrease production, unemployment rises, and many consumers have less money to spend |
|
Consumer Income- |
gross income, disposable income, and discretionary components |
|
discretionary income- |
the money that remains after paying for taxes and necessities. |
|
Regulatory forces- |
protecting competition, protecting producers and consumers, and control through self-regulation
|
|
self-regulation- |
an alternative to government control, whereby an industry attempts to police itself. |