Sports Marketing ch. 3 Review
Quiz by Ramsey Dolesh
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19 questions
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- Q1An activity that will produce money is called a(n)revenue streampossession utilityprofit motiveeconomic utility30s
- Q2When the physical characteristics of a product or service are improved, it is called possession utility.FalseTrue30s
- Q3The __________ shows assets, liabilities, and net worth.balance sheetincome statementpurchases journalcheck register30s
- Q4__________ is the possibility of financial gain, loss, or personal injury.InsuranceRiskUtilityProfit30s
- Q5The amount of satisfaction that people believe they receive from the entertainment is referred to astime utilityplace utilityeconomic utilityform utility30s
- Q6Ethical behavior involvesalways making decisions that produce the greatest financial profitsall of the abovemaking easy routine decisionsacting in a mature, responsible manner30s
- Q7When a business does not make enough revenue to cover expenses, it operates at a profit.TrueFalse30s
- Q8Venture capital is financing provided to start a company in return for owning part of the company.FalseTrue30s
- Q9__________ are a system of deciding what is right or wrong in a reasoned and impartial manner.EthicsEconomicsRisk retentionCharacter30s
- Q10The rules and codes of conduct on which ethical behavior is based are referred to as __________.forecastethicsliableprinciples30s
- Q11When a business is legally responsible for losses suffered by an injured person, it is said to berisk averseehticalavoiding riskliable30s
- Q12Risks can be classified as controllable, insurable, and involving gain or loss.FalseTrue30s
- Q13Risk retention involvesassuming the cost of an uninsurable riskstopping the activity that involves the risk of lossbuying insurancethe possibility of loss or gain30s
- Q14Bringing a new professional team to a major city is an example of a(n)controllable riskuncontrollable riskinsurable riskspeculative risk30s
- Q15The greatest reason for being in business isthe profit motivethe lack of competitionthe tax write offthe challenge30s