Business Education 9 Jeopardy Chapter 5 Review
Jeopardy Groups Olivia Z. Vanessa C. MichaelRileyOlivia S.HelenaBrendanJeremy ZsophiaMichelleChrisBrandon Janelle Vanessa G. ZackAlejandro PatriciaLeoT.J.Empty DawnChelseaJustinJackson JesseBillThomasBrian
Business Success Factors Affecting Business Success Economic Conditions Government Influence Business Failure $100 $200 $300 $400 $500
Business Success $100 What software company made a net profit of $9.4 billion (U.S.) in 2000? Microsoft
Business Success $200 Profit is also expressed as? Return on Sales
Business Success $300 What is the profit equation? Profit = Selling Price – Cost of Goods Sold – Expenses
Business Success $400 Henry Ford took advantage of what principle, which means the more products you can make using the same factory, the cheaper each product becomes? Economies of Scale
Business Success $500 Name one way you can measure the success of a business? Calculating profit, Employee Satisfaction, Contributions to the Community, Personal Satisfaction of the Owner or Operator
Factors Affecting Business Success $100 What company sold the most successful cap in Canada in 1998? Roots
Factors Affecting Business Success $200 No one can be successful in business unless they have the ability to what? Work well with others
Factors Affecting Business Success $300 What can be worked on to improve your personal business skills? Personal traits
Factors Affecting Business Success $400 Give one example of a personal factor that can lead to business success? Desire for Control, Vision, Passion, Perseverance, and Teamwork
Factors Affecting Business Success $500 What is another success factors other than the influence of the government that determines success in business? Economic conditions or personal factors
Economic Conditions $100 What Bank controls the money supply in Canada? The Bank of Canada
Economic Conditions $200 What measures the number of able-to-work people who don’t have jobs? Unemployment Rate
Economic Conditions $300 What is another name for a business that is barely competitive? Marginal businesses
Economic Conditions $400 What occurs when the price of many products goes up, while the purchasing power of money decreases? Inflation
Economic Conditions $500 The amount of a good that producers are allowed to supply is called what? Supply Quota
Government Influence $100 Give one example of a marketing board Milk, Egg, Chicken
Government Influence $200 Give one example of why we pay for taxes? Education, Health Care, etc
Government Influence $300 Does the government want control or no control of agriculture products? Control
Government Influence $400 What does Caveat Emptor mean? Let the buyer beware
Government Influence $500 What Act regulates door-to-door selling by providing a two-day cooling-off period? Consumer Protection Act
Business Failure $100 What is another name for retail giants? Big-box stores
Business Failure $200 What do accountants set when they want limits on the amount of money a business should spend on inventory? Budgets and buying quotas
Business Failure $300 Finish this saying… “Those who do not learn from past mistakes are bound to _________________ ______________” Repeat them
Business Failure $400 Business failure often results from a lack of one of the two major business skills __________________ Accounting or Marketing
Business Failure $500 At least half of the businesses in Canada go out of business before their ______________ year anniversary. Third