jeopardy successful business supplydemand business cycle consumer protection competition final...
TRANSCRIPT
JEOPARDY
Successful Business SupplyDemand Business
CycleConsumer Protection
Competition
FINAL JEOPARDY
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Refers to business that is conducted on the internet
WHAT IS E-BUSINESS?
A small segment of the larger market. Bon chance!
WHAT IS A MARKET NICHE?
The demographic that is currently entering retirement
WHO ARE THE BABY BOOMERS?
Risky, Innovative and Caring are three characteristics of this CEO of Virgin.
WHO IS RICHARD BRANSON?
This demographic is a target of businesses, due to their disposable income and impressionable state.
WHO ARE TEENS?
When companies pull their product from the shelves due to quality or
safety concerns.
WHAT IS A PRODUCT RECALL?
The law of demand states that the more demand there is for a product or service, this will happen to the price.
WHAT IS IT WILL RISE?
The controller for a PS3 is known as what kind of good, in relation to the
PS3.
WHAT IS A COMPLIMENTARTY GOOD?
Due to the recession, demand for many products has gone down. What
demand factor can explain this?
WHAT IS CONSUMER INCOME?
Tastes and Preferences change. These are two businesses who’s demand is
affected by the health trend.
WHO ARE SUBWAY, GYMS, TRAINERS, ATHLETIC WEAR, COSMETIC SURGERY, ETC?
Mr. Lovett is waiting to purchase an iPad because he expects the price to go down.
This is know as what factor of demand.
WHAT IS FUTURE EXPECTATIONS?
An owner of a business likes to have limited amount of stock on their shelves because he has a
small store and he wants to keep it that way. This supply factor is
affecting this business.
WHAT IS OWNER’S DESIRE?
This environmental factor will limit the amount of wine supplied in the Niagara region every summer.
WHAT IS THE WEATHER?
WHERE THE SUPPLY AND DEMAND CURVES INTERSECT.
WHAT IS EQUILIBRIUM?
The amount of goods that will be supplied in the free market.
WHAT IS 70 UNITS?
The money that is put into the making of goods will affect supply. These are
known as ____________________.
WHAT ARE PRODUCTION COSTS?
The Stage before recession in the business cycle.
WHAT IS INFLATION?
During Prosperity, consumer confidence is high and this occurs in
large amounts.
WHAT IS SPENDING?
Inflation is a bad thing for the economy. This happens to costs and
therefore prices.
WHAT ARE THEY GO UP?
The stage before prosperity in the business cycle.
WHAT IS RECOVERY?
It is often argued that this is the best way to get an economy out of a
recession.
WHAT IS SPENDING?
Drawing customers with a sale of an item that never really exists just to push
another product.
WHAT IS BAIT AND SWITCH?
Selling a bottle of moisturizer that promises to remove 100% of
wrinkles.
WHAT IS FALSE ADVERTISING?
The difference between Predatory Pricing and Price Fixing.
WHAT IS ONE IS A COMPETITIVE STRATAGY
AND THE OTHER IS COLLABERATIVE?
This act ensures that labels are put on Hazardous Products.
WHAT IS THE HAZARDOUS PRODUCT ACT?
These are three of five necessities for every package in Canada.
WHAT ARE 1) THE INGREDIANTS 2) FRENCH/ENGLISH 3) METRIC UNITS 4) NAME AND ADREESS 5) BEST BEFORE
DATE?
PEPSI’S MAIN COMPETITOR.
WHO ARE COCA-COLA?
THIS STORE IS THE MAJOR COMPETITOR WITH CINEPLEX ODEON
IN CANADA.
WHO IS NETFLIX?
TWO WAYS THAT MAC SAYS THEIR NOTEBOOK IS BETTER THAN PC.
WHAT IS LESS VIRUSES, LONGER BATTERY LIFE,
MORE INNOVATIVE, BETTER FOR DESIGN, EASIER TO
USE?
This airline benefited because a lack of competition in Canada.
WHAT IS AIR CANADA?
The reason that competition is beneficial for the consumer.
WHAT IS ACCOUNTABILITY?
THIS IS THE REASON WHY COMPETITION IS GOOD FOR THE ECONOMY AS A
WHOLE, ESPECIALLY THE CONSUMER.
WHAT IS AN ACCOUNTABILITY FOR ACTIONS, A PUSH FOR INNOVATION, THE MORE ATTENTAVE BUSINESS
ARE TO THE END CONSUMER AND THE MORE CHOICE
THE CONSUMER HAS ?
TEAM BTEAM A
