Latest DECA Business Administration Core Exam with Correct Answers |verified|

Latest DECA Business Administration Core Exam with Correct Answers |verified| Franchise *Ans* a contractual agreement between a parent company and a franchisee to distribute goods and services Corporation *Ans* a form of business ownership that is owned by stockholders who have purchased units or shares of the company Elastic Demand *Ans* demand that changes according to changes in price Inelastic Demand *Ans* demand that is not affected by changes in price. Unitary Demand *Ans* when sales remain the same because changes in supply and demand are equal Tort *Ans* a private wrongdoing that potentially harms another person or entity Doctrine of Sovereign Immunity *Ans* the universally accepted principle that each nation has the right to manage its own government and develop its own laws. Job Enlargement *Ans* combining different tasks into one position Job Rotation *Ans* moving from one job to another job within an organization Specialization by Trade *Ans* the type of work that a person performs in order to earn a living, such as engineering, public-relations, or accounting. Frictional Unemployment *Ans* occurs because there are always workers who are in transition Structural Unemployment *Ans* when the demand for certain types of workers declines and is often due to technology advancements and the need for new skills Cyclical Employment *Ans* result of changes in the economic and business cycles Wage Garnishments *Ans* court-ordered initiatives that involve taking income taken from an employee's salary and submitting it to another person or organization Embezzlement *Ans* theft of valuables that have been entrusted to another's care