Final Exam Review

Principles of Business, Marketing and Finance

Business in the US Economy

• Changing US Market• Business Sizes• Roles of Business• Impact on Community• Business Activities• Types of Businesses• Forms of Business

Ownership

• Organization of Businesses

• Entrepreneurships– Traits– Affect on economy– Small Businesses

• Advantages• Problems• Types of Financing

Marketing Basics

• Define marketing• Marketing Activities• Marketing

Functions• Marketing Strategy• Consumer decision-

making– Buying motives

• Emotional• Rational

• Products and Services– Marketing research

• Types

– Product Planning– Services

• Pricing and Distribution– Retail Mark-up– Retail Mark-down

International Business

• Balance of Trade– Absolute Advantage– Comparative

Advantage

• Importing/Exporting• International currency• Factors affecting

currency value• International Business

Environment

– Geography– Cultural– Economic

Development– Political and Legal

Concerns

• Trade Barriers– Quotas– Embargos– Tariffs

Financial Institutions

• Non-deposit and deposit institutions

• Banks– Banking services– E banking

• ATMS– Security (hacked

ATMS)– Services

• Pawn Shop– How they work– Interest rates

• Credit Unions– Advantages– Services

• Types of credit