Marketing Jeopardy Free Enterprise Types of Businesses The Functions of Business Intellectual Property Rights Supply and Demand Q $100 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200 Q $200 Q $200 Q $300 Q $300 Q $300 Q $300 Q $300 Q $400 Q $400 Q $400 Q $400 Q $400 Q $500 Q $500 Q $500 Q $500 Q $500 Final Jeopardy

Free Enterprise $100 Question One company has the control over the product or the means of producing it.

Free Enterprise $100 Answer Monopoly

Free Enterprise $200 Question The potential for loss or failure in relation to the potential for improved earnings.

Free Enterprise $200 Answer Business Risk (Risk)

Free Enterprise $300 Question Businesses that choose to compete on quality, service, location and reputation.

Free Enterprise $300 Answer Non price competition

Free Enterprise $400 Question The ability to buy whatever is desired and legally available.

Free Enterprise $400 Answer Freedom of ownership

Free Enterprise $500 Question Employee layoffs, lower stock value and increased social services.

Free Enterprise $500 Answer Economic costs of unprofitable firms

Types of Businesses $100 Question This type of business generally operates with less than 100 employees.

Types of Businesses $100 Answer Small business

Types of Businesses $200 Question A business, such as McDonalds, that operates all over the world is an example of this.

Types of Businesses $200 Answer Global Business

Types of Businesses $300 Question The Army and the Air Force are examples of this business sector.

Types of Businesses $300 Answer The public sector

Types of Businesses $400 Question This type of firm usually does not have to pay taxes on their profit.

Types of Businesses $400 Answer Non profit organizations

Types of Businesses $500 Question This type of company obtains their goods directly from manufacturers.

Types of Businesses $500 Answer Wholesalers

The Functions of Business $100 Question The four functions of business.

The Functions of Business $100 Answer Production, Marketing, Management and Finance/Accounting

The Functions of Business $200 Question Research/development, pricing and promotion are examples of what business function.

The Functions of Business $200 Answer Marketing

The Functions of Business $300 Question The function that involves reviewing profit and loss statements.

The Functions of Business $300 Answer Finance and Accounting

The Functions of Business $400 Question The process of achieving goals through planning, organizing and controlling.

The Functions of Business $400 Answer Management

The Functions of Business $500 Question This involves buying and re-selling goods that have already been produced. Retail and Wholesale businesses function in this way.

The Functions of Business $500 Answer Procurement

Intellectual Property Rights $100 Question These are the intellectual property rights.

Intellectual Property Rights $100 Answer Patent, Trademark, Copyright, Trade Secret

Intellectual Property Rights $200 Question The exclusive right to make, use or sell an invention.

Intellectual Property Rights $200 Answer Patent

Intellectual Property Rights $300 Question Is usually valid for the life of the author + 70 years.

Intellectual Property Rights $300 Answer Copyright

Intellectual Property Rights $400 Question This protects recipes and formulas from the public, but it is not patented.

Intellectual Property Rights $400 Answer Trade Secret

Intellectual Property Rights $500 Question A T-shirt manufacturer might be granted this with the National Football League so that it can print shirts with NFL logos on them.

Intellectual Property Rights $500 Answer Licensing Agreement

Supply and Demand $100 Question This refers to the customers willingness to buy products.

Supply and Demand $100 Answer

Supply and Demand $200 Question This occurs when the supply and demand curves meet.

Supply and Demand $200 Answer Equilibrium

Supply and Demand $300 Question This occurs when supply exceeds demand.

Supply and Demand $300 Answer Surplus

Supply and Demand $400 Question This happens when the demand for a product exceeds the supply.

Supply and Demand $400 Answer Shortage

Supply and Demand $500 Question This would occur if a hair salon increased their price from $25 to $50.

Supply and Demand $500 Answer Decrease in demand

Final Jeopardy Question Based on the statistics that were discussed in class about profit, what would a firm’s profit range be if it had a sales revenue of $500,000.

Between $5,000 and $25,000 (Between 1% and 5% of sales) Final Jeopardy Answer Between $5,000 and $25,000 (Between 1% and 5% of sales)