Short Answer Key for Economics & Business Concepts môn Kinh tế vi mô 1 | Học viện Tài chính

ANSWER SHORT QUESTIONS Who is an economist? 1.
An economist is an expert who studies the relationship between a
society's resources and its production or output, using a number of
different indicators, in order to predict future trends.
What is the advantage of using email to communicate with colleagues from different countries? Fast Client Communication 2. Availability and Portability
Reduces Shipping and Mailing Costs
What is the disadvantage of using email to communicate with
colleagues from different countries? 3. Vulnerability to Loss Accessible to Others
Difficult to Interpret Emotions What is a virtual team?
A virtual team is a group of workers who communicate and work
together using digital tools. While they can be located in the same 4.
physical space, virtual teams are often distributed, working remotely
in different parts of the city, state or country—even on the other side of the world!
People working together without being physically together
What is a loss leader? Sản phẩm bán lỗ, sản phẩm câu khách 5.
A product that is sold at a loss, but encourages people to buy more
profitable products from the same company.
What are luxury goods? Mặt hàng xa xỉ 6.
Luxury goods are things which are not necessary, but which give you
pleasure or make your life more comfortable.
7. What is an haute couture dress? Thời trang cao cấp
Making and selling very expensive clothes, especially for women.
What is an off-the-peg dress? Đồ may sẵn 8.
Clothes made in a factory, not specially for one person (không dành riêng cho ai).
9. What is a fashion house? Nhà mốt
A company that designs, makes and sells fashionable clothes.
Do you like to buy luxury good if you are rich? Why? 10.
Yes, of course. I buy luxury brands not because I care about raw
materials, craftsmanship, and high quality, but because I want to
communicate something about myselves.
Is fashion important to you? Why? 11.
I think fashion are very important to me primarily because it makes
me look good and feel good about myself.
12. What is designer label? Thương hiệu của nhà thiết kế
The company’s name on the clothes they have designed.
What is the capital of fashion in the world? List some luxury brands. 13.
The true capital of fashion is Paris
Christian Dior, Chanel, Céline, Hermès, Louis Vuitton What is domestic market? 14.
A domestic market, also referred to as an internal market or domestic
trading, is the supply and demand of goods, services, and securities within a single country. What is a business plan? 15.
A business plan is a document that defines in detail a business's future
objectives and strategies for achieving them. 16. What is bankrupt?
Not having enough money to pay your debts and do not allowed to
continue any business activities. What is competition? 17.
A situation in which bisinesses are trying to be more successful than
others buy selling more goods and services and making more profit. What is demand? 18.
The total amount of a type of goods or services that people or companies want to buy. Who is an entrepreneur? 19.
Someone who starts a company, arranges business deals and take risks in order to make a profit.
20. What is market share? Thị phần
The percentage of sales that a company or product has in a market. 21. What is market leader?
The product or service that most people buy. What is profit? 22.
Money that you make from selling something or doing business in a
paticular period, after taking away costs (sau khi trừ đi chi phí). 23. What is a start-up?
A new company that has started to do business recently.
Is having a top job the success to you? Why?
Career success is a combination of achieving a reasonable level of 24.
financial stability while doing work you enjoy and then finding that
you are also happy and fulfilled with your life and career choices as well. 25.
Is being your own boss the success to you? Why? 26.
Is Earning a lot of money the success to you? Why? 27.
Is being happy a success to you? Why?
What can a company do to make more profit? 28.
Reducing costs, increasing turnover, increasing productivity, and
increasing efficiency. You can also expand into new market sectors, or
develop new products or services. 29.
Why do so many start-up company fail?
What are five important steps for setting up a business?
Step 1: Development new product ideas
Step 2: Conduct market research 30.
Step 3: Prepare a good business plan Step 4: Getting finance
Step 5: Build a customer database What is a budget? 31.
A detailed plan prepared by an organisation of how much money it
will receive, how much it intends to spend and how it will spend the money.
32. What is a venture project?
A new business activity or project that involves taking risks.
What is a joint venture? Dự án đầu tư liên doanh mạo hiểm 33.
A business activity in which two or more companies have invested together.
34. What is a payback period? Thời gian hòa vốn
The peroid of time needed to get back the cost of an investment. What does ROI stand for? 35.
Return on investment: the amount of profit on an investment in
relation to the amout of money invested.
36. Who is a venture capitalist?
Someone who invest money in new business. 37. What is start-up cost?
The expense of setting up a new business or new project.
38. What do most people think about having so much surveillance?
Most people hate the idea but they don’t know how to stop it.
39. What is a manufacturing company?
A company that manufactures goods. What is a retail company? 40.
A retail company specializes in the sale of goods or services to consumers. What is a diversified company? 41.
A diversified company owns or operates in several unrelated business segments.
42. What are Shoot – em -ups?
Violent games where people shoot and kill each other. 43. Who is a founder? A person who starts a company.
44. Who is a financial analyst?
45. Who is a financial advisor? Who is a sales representative? 46.
A person who sells a company’s products or services by speaking to
customers on the phone or travelling to meet them.
47.W Who is an assistant manager? 48. What does partner mean?
49. What is etiquette? Phép xã giao
The formal rules for polite behaviour in a group of peolpe.
50. Can you name some examples of bad manners? What is politeness? 51.
Politeness is about showing respect for others. It means thinking
about other people’s feeling.
52. What reasons do office workers give for their bad manners?
Pressure of work is the reason for their bad manners.
Why is it impolite to answer a mobile phone during the meeting? 53.
If you answer a call during a meeting, it could mean that you think the meeting is not important.
54. What are the benefits of avoiding bad manners at work?
55. What 4 advantages of surveillance technology are mentioned in society?
56. Why is it important to manage information well?
57. Why is it better if managers show respect for their workers? Who is a customer? 58.
A person or organisation that buys goods or services from a shop or company.
What does infrastructure mean? Cơ sở hạ tầng 59.
The basic systems and structures that a country needs to make
economic activity possible, for example, roads, communications, electricity.
60. Who is a potential customer? 61. What is attraction?
62. What do people do in the capital market do?
63. What do companies do in service sector?
What does an investment company specialize in?
The main business of an investment company is to hold and manage 64.
securities for investment purposes, but they typically offer investors a
variety of funds and investment services, which include portfolio
management, recordkeeping, custodial, legal, accounting and tax management services.
How do countries attract foreign business? 65.
Labour costs, infrastructure quality, company taxes, innovation,
economic growth… all these are factors that are used by governments to attract foreign investment.
Would you like to live in Dubai? Why? 66.
Yes. Because Dubai is open to foreigners and Dubai’s easy going style
has made it a positive place to live and work.
67. What factors are important when a company set up a new office in another country?
68. Why do some governments offer low taxes?
69. Why do many companies want to set up office in Dubai?
70. Who can be offered jobs by employers?
What does a Human Resource Department deal with? 71.
A Human Resource Department deals with recruitment and hiring
employees and also manages career development within the company. What is work placement? 72.
Students often take a temporary job during their studies – for little or
no pay – because they want to get experience.
What is graduate trainee scheme? 73.
Big companies accept a number of newly qualified people to work for
one year. They get general experience by woking in different
departments. They may or may not get a permanent job at the end.
What does an apprenticeship mean? 74.
A young person learns a skill or trade by working under supervision in
a company. They have contract to work there for a fixed number of years.
What is the main contribution of Monster.com? 75.
The main contribution of Monster.com has been to speed up hiring
and vastly increase the accuracy of the job-search process.
76. Which are losing money because of Monster’s success?
Newspapers and Headhunting firms What is “benefit package”?
An employee benefits package is a collection of non-wage
compensation that is paid in addition to the employee's salary. 77.
Benefits can differ greatly from industry to industry and company to
company, depending on the employees' desires and the organization's
capabilities. Insurance programmes, retirement plans, and paid time
off for illness and vacation are all common components of a benefits package.
What information should be included in a CV?
They are Contact details (Chi tiết liên hệ) , Education (quá trình học 78.
tập), Work experience (kinh nghiệm làm việc), Qualifications (bằng
cấp), Interets (Sở thích), Additional information(Các thông tin khác). What is a CV? 79.
Curriculum vitae is a document that gives details of a person’s experience and qualifications.
What does the Human resources department do? 80.
A Human Resource Department deals with recruitment and hiring
employees and also manages career development within the company. What is a headhunting firm? 81.
Finding a manager with the right skills and experience to do a
particular job, often by persuading a suitable person to leave their present job. 82. Who is an applicant?
An applicant is somebody who joins or applies for something What is sponsorship?
Sponsorship involves a business relationship between two parties, 83.
where one party (sponsor) provides support in the form of funding,
resources, or services to the other party (beneficiary). The beneficiary,
in return, allows access to the sponsor for rights and associations for commercial advantage.
Give some examples of direct marketing? Marketing trực tiếp 84.
Direct mail, Email marketing, Catalogues, Telephone, Leaflet, Social media, TV internet shopping...
List some examples of sales promotion? 85.
Special Offers: Buy one get one free (BOGO), Two for one, Free gift, Free shipping, Discount,... 86. What is sales pitch?
What a saleperson says about a product to persuade people to buy it. What is a discount? 87.
A reduction in the cost of a product or service, usually to encourge people to buy something. Who is a consumer? 88.
A peron who buys goods, products or services for their own use, not for business or to re-sell. What is personal selling? 89.
Personal selling is a personalised sales method that employs person-
to-person interaction between a sales representative and prospective
customers to influence the customer’s purchase decision. What is salary? 90.
Money that you receive as payment for your work, usually every month.
91. What kinds of products and services are getting cheaper? Why?
92. Where do Vietnamese people shop?
93. What ways do you know of finding a job?
94. In your opinion, what is the most effective way to find a job? Name some methods of selling? Challenger sales approach SNAP selling SPIN selling 95. Sandler system Conceptual selling Inbound selling Solution and value selling
96. How can companies attract attention when they launch a new product?
Why are students an important market in the UK? 97.
Because the student market in the UK is estimated to be worth $13
billion of spending power in a year. What is the trend? Xu hướng 98.
The general way in which a particular situation is changing and developing.
What is the profit margin? Biên lợi nhuận 99.
The difference between the price a product or service is sold for and the cost of producting it
Why have prices fallen in the food business? 100.
Prices have fallen in the food business because if advances in food
production and distribution technology.