Learning objective:Familiarize Terms for easier understanding of the topics in the subject.

Directions:

Give the appropriate meaning/definition of the following terms in relationto business and marketing.

Familiarize the following terms.

Essay Type

Minimum of4sentences per item

2 points each

Business Marketing Terms

1.Economy/Economic Activities -

2.Commodities -

3.Free Enterprise-

4.Profit -

5.Capitalist economy -

6.Market penetration -

7.Firms -

8.Demand and Supply -

9.Marketing -

10.Marketing Strategy -

11.Variables -

12.Quality vs. Quantity -

13.Revenue -

14.Advertising -

15.Publicity -

16.Channel of distribution -

17.Demographics -

18.Inflation -

19.Recession -

20.Disposable income -

21.Obsolete products -

22.Sales -

23.Government institutions -

24.Competitors -

25.Prospective Customers -