Business Education 9 Jeopardy

Chapter 5 Review

Jeopardy Groups

Olivia Z. Vanessa C.

Michael Riley

Olivia S. Helena

Brendan Jeremy

Zsophia Michelle

Chris Brandon

Janelle Vanessa G.

Zack Alejandro

Patricia Leo

T.J. Empty

Dawn Chelsea

Justin Jackson

Jesse Bill

Thomas Brian

Business Success

Factors Affecting Business Success

Economic Conditions

Government Influence

Business Failure

$100 $100 $100 $100 $100

$200 $200 $200 $200 $200

$300 $300 $300 $300 $300

$400 $400 $400 $400 $400

$500 $500 $500 $500 $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