Transcript Are you smarter than a 5th grader - STUDIOUS

Airplanes
Peek Copy
Cheat
(in Business)
5th Grade
Prices
5th Grade
Micro
5th Grade
Monopoly
4th Grade
Marketing
4th Grade
Self
4th Grade
Market Price
3rd Grade
Marketing information.
3rd Grade
Customers
3rd Grade
Law
2nd Grade
Production
2nd Grade
Social
2nd Grade
Econ
1st Grade
Selling
1st Grade
Shapes
1st Grade
Demand
What is meant by price?
1. Price is the actual amount that customers pay
and the methods of increasing he value of the
product to the customers.
Or is it..
2. Price includes the methods and information
communicated to customers to encourage
purchases and increase their satisfaction.
Did you say that price is the
actual amount that customers
pay and the methods of
increasing the value of the
product to the customers? You
are smarter than a 5th grader
friends!
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What is a market?
1. A market is the blending of four
marketing elements, product, distribution,
price and promotion by the business.
Or is it
2. Market is the refers too the description
of the prospective customers a business
wants to serve and the location of those
customers.
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slide
.
Did you say a market refers
to the description of the
prospective customers a
business wants to serve and
the location of those
customer
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What is a production function?
1. It is a location where people
bring products to be conveniently
exchanged or
2. Creates or obtains products or
services for sale.
Do you say it creates or
obtains products or
services for sale?
If you did your are smarter
th
than a 5 grader?
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What is a marketing information
management person?
1.
Establishing and communicating
the value of products and service
to prospective customers.
2.
A person who will be obtaining,
managing and using market
information to improve decision
making and the performance of
marketing activities.
Did you say the Marketing
information management person was
the person who would be obtaining,
managing, and using market
information to improve decision
making and the performance of
.
marketing activities
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slide.
What is meant by selling?
1. Establishing and communicating the
value of products and service in
perspective customers.
Or
2. Direct, personal communications with
prospective customers in order to assess
needs and satisfy those needs with
appropriate products and services
Did you say “2”?
Selling is direct, personal
communication with
prospective customers n order
to assess needs and satisfy
those needs with appropriate
products and services
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slide.
What is Microeconomics?
1. The studies of the economic
behavior and relationships of the
entire society.
Or is it….
2. The study of relationships between
individual consumers and producers.
Did you answer
Microeconomics is the
study of relationships
between individual
consumers and producers
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slide.
What is meant by Self regulation?
1. Self regulation is decisions and
behavior based on honest and fair
standards.
Or is it….
2. Taking personal responsibilities for
actions is know as self regulations.
Did you say - Taking
personal responsibilities for
actions is know as self
regulations. You are so
smart…..
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slide.
Do you know what consumerism is?
1. Consumerism is the organized actions of
group of consumers seeking to increase
their influence on business practices.
Or it it…..
2. A group of consumers is dissatisfied
with the actions or products of a business
they can organize a customer boycott.
Consumerism is the
organized actions of group
of consumers seeking to
increase their influence on
business practices
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slide.
What is the definition of social responsibility?
1. Social responsibility is the organized actions of
groups of consumers seeking to increase their
influence on business practices.
Or is it…
2. Social responsibility is the trend today to be
greater in expectation for business to be socially
responsible and to aid in solving he problems facing
society?
Did you say - Social
responsibility is the trend
today to be greater in
expectation for business
to be socially responsible
and to aid in solving the
problems facing society?
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slide.
What is the most
descriptive name for the
shape below.
Did you say Trapezoid? You
“dun” graduated the 3rd
grade!
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What is a monopoly?
1. Customers have so many choices of
suppliers and the products of all
suppliers are similar. .
Or is it…
2. A type of economy that the market
in which there is one supplier offering
a unique product.
A monopoly is a type of
market in which there is
one supplier offering a
unique product.
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Do you know what market price is?
1. The point where supply and demand
for a product are equal.
Or is it….
2. To determine the number of
computers that will actually be
produced.
The point where supply and
demand for a product are
equal.
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What is the law of Supply?
1. When the price of a
product is increased more
will be produced.
.Or is it…
2. As the price goes down
fewer will be manufactured.
Brilliant! Did you say As
the price goes down, fewer
will be manufactured
because this is the
relationship that is known
as the law of supply.
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What is economic resources?
1. The graph of the relationship
between price and quantity supplied
is known as this.
Or is it….
2. Economic resources are classified
as natural resources, capital ,
equipment, and labor.
Once again you graduated
the 3rd grade!
Economic resources are
classified as natural
resources, capital,
equipment, and labor!
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What is a demand curve?
1. The relationship between price
and the quantity demanded is often
illustrated in a graph.
Or is it…
2. The way business use the
resources available to develop
products and services.
Ya.. you are smart!
Demand curve is the
relationship between price
and the quantity demanded
is often illustrated as a
demand curve.
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