What are the four major types of business markets, and what are the characteristics of each?
What will be an ideal response?
The four categories of business markets are producer, reseller, government, and institutional markets. Individuals and business organizations that purchase products for the purpose of making a profit by using them to produce other products or using them in their operations are classified as producer markets. Reseller markets consist of intermediaries, such as wholesalers and retailers, which buy finished goods and resell them for a profit. Aside from making minor alterations, resellers do not change the physical characteristics of the products they handle. Federal, state, county, and local governments make up government markets. These markets spend billions of dollars annually for a wide range of goods and services, ranging from office supplies and health-care services to vehicles, heavy equipment, and weapons, to support their internal operations and provide citizens with such products as highways, education, energy, and national defense. Organizations with charitable, educational, community, or other nonbusiness goals constitute institutional markets. Members of institutional markets include churches, some hospitals, fraternities and sororities, charitable organizations, and private colleges.
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The following set of items describes activities completed by a company in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. Cash register tapes are picked up daily by an employee from the accounting department
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
Which of the following is NOT a control implication of distributed data processing?
a. redundancy b. user satisfaction c. incompatibility d. lack of standards
Negotiators can use questions to manage difficult or stalled negotiation. When is use of the "why not" instead of "why" appropriate?
What will be an ideal response?
The civil law system is based on __________ and thus is bureaucratic.
Fill in the blank(s) with the appropriate word(s).