Marketing Essentials

Unit 3: Business and Society

DECA Prep

Many competitive events test your knowledge of basic business concepts and terms. To solve these competitive problems you will need to demonstrate your knowledge of basic business concepts and apply them to specific situations.
For the latest and most complete information about DECA competitive events, visit http://www.deca.org/ceoverview.html

1

Situation
You are about to make a presentation about business concepts. You will need to include an explanation of the concept of supply and demand in that presentation. Define the terms supply and demand.

Give yourself five minutes to list your answers. When you have made your best effort, click below to check your answers.

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