DECA vocab 2

Question 1

Balance of Trade

Answer 1

Difference in value between exports and imports of a country.

Question 2

Bad Debt

Answer 2

Uncollectible accounts receivable

Question 3

Bar Code

Answer 3

Common name for the Universal Price Code, or the series of black bars printed on many products. Allows for cashiers to scan in the price and product information.

Question 4

Benchmarking

Answer 4

Companies use competitor products, prices, or features to compare to their own product and determine overall success.

Question 5

Benefits of Marketing

Answer 5

 Makes buying convenient

 Raises the standard of living/Improves the quality of life

 Maintains reasonable prices

 Provides a variety of goods and services

 Increases production

Question 6

Better Business Bureau

Answer 6

Organization to promote truth in advertising. Not a government agency, no enforcement powers. Publicizes information about unfair business practices to watch out for, and may cite specific
companies as examples. They will often contact a business and try to persuade that business to correct poor practices.

Question 7

Bonus Close

Answer 7

A form of closing the sales process. The sales representative
encourages the customer to buy now because there is a free gift or
bonus.

Question 8

Book Inventory System

Answer 8

Used in conjunction with another inventory system, records are
kept by noting the amount of inventory purchase and the amount of inventory sold.

Question 9

Box Office

Answer 9

The amount of money from ticket sales for movies or theater. Is used as a measurement of success.

Question 10

Brand

Answer 10

Name, term, sign, symbol, or combination intended to identify the goods or services of one seller from another seller. Example:
Kleenex tissue, Xerox copy, Cheerio’s

Question 11

Brand Awareness

Answer 11

How well consumers know a company’s products

Question 12

Break-even Point

Answer 12

The sales volume point at which revenues and costs are equal

Question 13

Break-even Pricing

Answer 13

Setting a price to break-even on the cost of manufacturing and marketing a good or service

Question 14

Broadcast Media

Answer 14

Agencies, means or instruments used to instantly convey
messages to large groups, includes radio and television

Question 15

Brokers

Answer 15

Assist in the negotiations between buyer and seller, yet do not take title of the good.

Question 16

Browser

Answer 16

For using the Internet, a computer program used to request information from the world wide web.