2. Choose a category. You will be given the answer. You must give the correct question. Click to begin.

3. Click here for Final Jeopardy

4. Business & the Consumer Why Do Businesses Fail? Real Life Business 10 Point 20 Points 30 Points 40 Points 50 Points 10 Point 20 Points 30 Points 40 Points 50 Points 30 Points 40 Points 50 Points Starting a Business Understanding Business

5. First Column Questions and answers

6. Having two or more businesses under one roof is commonly referred to as? Give Example?

7. What is Co-Branding? Home Depot/Harvey’s

8. Over the years, many products become _______ which means they are no longer in use? Example?

9. What is Obsolete? Cassette Tapes, Typewriters

10. 1)Item that is necessary for survival? 2)Item that is not necessary for survival, but adds pleasure Examples?

11. 1. Need – Food, shelter clothing 2. Want –T.V./Phones

12. The point at which revenue equals expenses?

13. What is Break even?

14. What are the five steps in the decision making model?

15. 1. Define the decision 2. Identify the alternatives 3. Evaluate the adv/dis of each alternative 4. Make a decision 5. Evaluate the decision

16. Second Column Questions and Answers

17. You might even be strongly influenced by your friends to buy something you don’t really want

18. What is peer pressure?

19. Name 3 factors that affect buying decisions?

20. Income and Price, Status, Current Trends, Customs and Habits, Safety

21. Explain: 1. Time spent in store 2. Contact Time 3. Wait Time

22. 1. Time shopper spends in store 2. Time customers spend with store employees 3. Waiting in line to pay

23. What store does a great job of “time spent in store” (Maze)

24. Ikea!

25. Name 2 of the 5 reasons that people hesitate to purchase goods online?

26. 1. Worry about unreliable or dishonest retailers 2. Do not want to deal with the hassle of returning goods 3. Worry about their credit card 4. Junk Mail 5. Want to see and touch what they buy

27. Third Column Questions and Answers

28. You can borrow money to start your own business

29. What is debt financing?

30. You can use money from your savings or investors to start your business

31. What is equity financing?

32. Home-based business-sometimes called “soho” is short for what?

33. Small office, home office

34. How can you finance the start-up of your business? Name 3

35. Loans, friends, family, investors

36. Name 4 start up costs associated with opening a business?

37. Rent/mortgage Salaries Advertising Equipment Buy goods your selling

38. Fourth Column Questions and Answers

39. Business Failure often results from the lack of one of the two major Business skills. What are both?

40. Marketing/Accounting

41. What are marketers good at? What are accountants good at?

42. Marketers: Good at promotional ideas, creative, select products that will be popular, style, fashion Accountants: Set budget and buying quotas(limits on inventory), keep financial records, sales targets, make sure business is profitable

43. Many successful Businesses decide to expand or develop new products (Why?)

44. They feel that there is a demand for their product and they can profit

45. Experienced Business people suggest that you have one full year of operating expenses in reserve. Why?

46. Buy inventory, pay employees, construction and all other expenses involved in running the Business. May take more than 1 year to turn a profit.

47. What can Businesses do to stay ahead of their competitors? Name 3

48. Offer better product quality, service, price, location, reputation or expertise

49. Fifth Column Questions and Answers

50. What is a luxury good worth over 1 million dollars?

51. Plane, Yacht, Certain Cars

52. Name one of the main locations for the stock exchange in North America? (There are 2 main ones)

53. New York, Toronto

54. Name 2 currencies that are stronger than the Canadian dollar?

55. US Dollars, Euros, Pounds

56. What is the fundamental goal of business?

57. To Earn A Profit!

58. Name a familiar Billionaire?

59. Mark Zuckerberg, Bill Gates, Warren Buffet, Oprah

60. Make your wager

61. Who co-created Apple with Steve Jobs? (20pts)

62. Steve Wozniak, Ronald Wayne