2011 Dynamics CRM

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Do you use facebook?

Photo of a smartphone with the Facebook application open
Economics is greatly impacted by how well information travels through society. Today, social media giants Twitter, Facebook, and Instagram are major forces on the information super highway. (Credit: Johan Larsson/Flickr)

Decisions ... decisions in the social media age

To post or not to post? Every day we are faced with a myriad of decisions, from what to have for breakfast, to which route to take to class, to the more complex—“Should I double major and add possibly another semester of study to my education?” Our response to these choices depends on the information we have available at any given moment; information economists call “imperfect” because we rarely have all the data we need to make perfect decisions. Despite the lack of perfect information, we still make hundreds of decisions a day.

And now, we have another avenue in which to gather information—social media. Outlets like Facebook and Twitter are altering the process by which we make choices, how we spend our time, which movies we see, which products we buy, and more. How many of you chose a university without checking out its Facebook page or Twitter stream first for information and feedback?

As you will see in this course, what happens in economics is affected by how well and how fast information is disseminated through a society, such as how quickly information travels through Facebook. “Economists love nothing better than when deep and liquid markets operate under conditions of perfect information,” says Jessica Irvine, National Economics Editor for News Corp Australia.

This leads us to the topic of this chapter, an introduction to the world of making decisions, processing information, and understanding behavior in markets —the world of economics. Each chapter in this book will start with a discussion about current (or sometimes past) events and revisit it at chapter’s end—to “bring home” the concepts in play.

Introduction

In this chapter, you will learn about:

  • What Is Economics, and Why Is It Important?
  • Microeconomics and Macroeconomics
  • How Economists Use Theories and Models to Understand Economic Issues
  • How Economies Can Be Organized: An Overview of Economic Systems

What is economics and why should you spend your time learning it? After all, there are other disciplines you could be studying, and other ways you could be spending your time. As the Bring it Home feature just mentioned, making choices is at the heart of what economists study, and your decision to take this course is as much as economic decision as anything else.

Economics is probably not what you think. It is not primarily about money or finance. It is not primarily about business. It is not mathematics. What is it then? It is both a subject area and a way of viewing the world.

Quiz PDF eBook: 
2011 Dynamics CRM
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89 Pages
2011
English US
Educational Materials



Sample Questions from the 2011 Dynamics CRM Quiz

Question: Which type of records can you use to create a marketing list?

Choices:

Account

Contact

Lead

Opportunity

Question: Which of the following are required fields on the Campaign form?

Choices:

Name

Currency

Campaign Type

Status Reason

Question: Which of the following is not a feature of quick campaigns?

Choices:

Associate a marketing list

Create campaign activities

Create multiple campaign activities

Send e-mail to a marketing list

Question: Which of the following cost-related functions can you perform in marketing campaigns?

Choices:

Forecast expenditures by month

Budget the cost of activities

View the total cost of the campaign

Enter the actual cost of activities

Question: Which of the following are features of both Quick Campaigns and Marketing Campaigns?

Choices:

Can both use marketing lists

Can both use marketing lists

Can distribute campaign activities to contacts, leads or accounts.

Both have several built-in reports for tracking campaign effectiveness.

Question: Which of the following are true regarding marketing lists?

Choices:

Marketing list members can include leads, accounts, contacts and opportunities.

Marketing list members can include leads, accounts, and contacts

Once a marketing list is saved, you cannot change the type of members that can be added to the list.

All marketing lists are "static", and you must manually add or remove the members to reflect changes to the underlying data.

Question: Which of the following are required when you are creating a campaign record?

Choices:

Use a campaign template

Set the start date

Set the end date

Name the campaign

Question: Which of the following is a benefit of closed loop marketing?

Choices:

Sales has visibility into what marketing is doing to support their efforts

Marketing has visibility into what the sales team does to follow up on the leads they produce

Overall marketing effectiveness improves because there is a way to measure what works and what does not

All of the above

Question: Which of the following can be associated with a marketing campaign?

Choices:

Campaign activities

Marketing lists

Leads

Target products

Question: Which is an advantage of using a campaign template?

Choices:

Templates are required for every campaign.

Templates reduce the time of setting up the campaign.

Templates are required when a product is involved in the campaign.

Templates increase the campaign’s response rate.

Question: Which of the following are types of campaign activities?

Choices:

Letters

E-mails

Planning Activities

Phone Calls

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