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What do you call an organization that offers products or services in exchange for money?
A Company
What are the three main areas of economy?
Production, Distribution, and Consumption
How do companies make profit?
They make profit when the price of the product or service is more than the cost of production.
Which company will make a profit? Why? Company A: Cost of Production- 30 Euros Sale Price- 29.99 Euros Company B: Cost of Production- 100 Euros Sale Price- 129.99 Euros
Company B will make profit because their sale price is higher than the cost of production.
A company which has fewer than 50 employees is called?
A small company.
What are medium- sized companies?
They are companies that have between 50 and 250 employees.
True or False. Coca- Cola is a large company.
True.
What are the six (6) departments in companies found in your book?
Production Department, Research and Development Department, Purchasing Department, Marketing Department, Human Resources Department, Accounting and Finance Depa
What are the two ways to put advertisements?
Through print media and electronic media.
Magazines are what type of medium for advertisements?
They are print media.
Give three (3) examples of electronic media.
Radio, Television, Social Media (Facebook, Twitter, Instagram, TikTok) Ads, etc…
What type of advertising presents the benefits of a company’s product or service?
It’s called a Persuasive Advertising.
What is a Public Service or Informative Advertising?
It’s an advertisement which helps people in many ways.
Give an example if a Public Service Advertising.
Wearing face mask inside the metro to prevent the spread of Covid. Drinking water to avoid dehydration. Etc…
What do you call the short and memorable phrases which explains a product?
It’s called a Slogan.
What type of advert are special prices, discounts, and prizes?
They are called Promotions.
