1. Inflation

2. Deflation

MKT 2327 Midterm due Wednesday, 10/26/2022 Answer all definitions (Two points each) 1. Inflation 7. Breach of contract 2. Deflation 8. Copyrights 3. Neutral Economy 9. Logos and trademarks 4. Two Major roles of the Fed 10. Patents 5. Corporate Bankruptcy- Chapters 7 & 11 11. Public Domain 6. Punitive and Compensatory Damages 12. Liability Essays (ten points each) 1. How do small business owners deal with short term inflation? What behaviors do consumers practice during inflationary periods? What is the danger of long term inflation/consumer behavior? What action should the Fed take to curb inflation? (16 points) 2. What strategies should entrepreneurs use to obtain small business loans? Use five "C" s of bank borrowing plus class discussions. 3. What are five rules of cash flow? 4. What are qualities shared by successful sales persons? 5. Define and discuss the five types of legal structures. How do entrepreneurs avoid personal liability? 6. Define and describe the 8 step sales call. 7. Define and describe the principles of selling