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Intro Business EXAM REVIEW #2

AB
technologythe light bulb, the radio, and the computer
e-workforcepeople who work with computers while doing business
e-commercee-tail and e-tickets are examples of this type of business
click and mortarbusinesses that sell on the Internet and in regular stores
microchipcomputer “guts” that stores billions of bits of information
digital workflowlinking jobs together electronically
shop any timean advantage of e-tail
bricks and mortarstores and warehouses that businesses use
e-tailan online retail business
easy to overspenda disadvantage of e-tail
jobsomething you do to make money
careeran occupation or field in which you work over a long period of time
aptitudestalents that come naturally
skillsabilities developed through learning and experience
career counselortrained to help you discover and evaluate possible careers
librarya good place to find out about careers
professionrequires an advanced degree
entry-level jobfirst step on the career ladder
investment in your futuretime and money you spend preparing for a career
interestshobbies that can lead to careers
generic productsplainly labeled, unadvertised, and sold at lower prices
department storesMacy’s and Marshall Field’s
unit pricecost per pound or quart
consumer magazinesexamines and rates products
shopping listprevents impulse buying
limited warrantycovers only certain parts of a product for repair
outlet storessell brand-name products that are discontinued or have minor flaws
sales gimmicks“free prices” and “super low prices”
labeltells you what the contents of a product are
loss leadersdon’t make money but bring in customers
customer service departmentpart of a business that handles consumer problems
Consumer Reportssource of consumer education
pollutioncontamination of air, water, and land
recyclingprocess waste for reuse
right to servicebeing treated in a respectful manner
bait and switchtype of consumer fraud
responsibility to speak outreporting unsafe products
boycottrefusing to buy a company’s product
right to safetytesting and labeling products
consumer movementworks to protect consumer’s rights
refundget back the money you paid for a defective product
consumer advocateperson or group that works to protect consumers
Consumers Unionpublisher of Consumer Reports
Major Appliance Consumer Action Programhelps consumers solve problems with large appliances
Federal Trade Commission (FTC)enforces laws about business practices
Good Housekeepingendorses products with a “seal of approval”
public utilities commissionregulates electric, gas, and water rates
licensepermit to conduct business
state insurance commissioncontrols and approves insurance rates
U.S. Department of Agricultureinspects and grades foods


Bay City Central High School
Bay City, MI

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