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Quiz by Pa'Trice Day Owens
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40 questions
Q.Which of the following is not an element of the marketing mix?
1
30 sec
Q.The normal length of time of which a marketing plan is developed is
2
30 sec
Q.The product life cycle concept suggests that
3
30 sec
Q.Companies emphsize promotion and price of their products in which stage of the product life cycle?
4
30 sec
Q.An example of a product in the decline stage of the life cycle is
5
30 sec
Q.Most often, retailers sell to
6
30 sec
Q.The number and type of businesses in a channel of distribution is determined by the
7
30 sec
Q.Which of the following would be the shortest channel of distribution?
8
30 sec
Q.A business that owns the organizations at other levels of a channel of distribution is involoved in
9
30 sec
Q.Products such as soap, books, candy, and pens are
10
30 sec
Q.The principle advantage of railroad transportation is
11
30 sec
Q.The slowest method of transporting goods is
12
30 sec
Q.Because consumers do not usually buy products as soon as they are produced, products need to be
13
30 sec
Q.The actual price a customer paid for a product is the
14
30 sec
Q.Purchasing snow blowers in the summer to help the manufacturer balance production and inventory levels often qualifies the buyer for a
15
30 sec
Q.For manufacturers, the total cost of the materials, operations, and personnel used to make the product is the
16
30 sec
Q.The cost of goods sold plus operating expenses plus net profit equals the
17
30 sec
Q.What type of business produces goods that other businesses use to make things?
18
30 sec
Q.Which statement is most accurate about demand?
19
30 sec
Q.Which of the following statements about budgets is true?
20
30 sec
Q.Because business success is judged in dollar terms, every business must do all of the following except
21
30 sec
Q.The inability to satisfy all wants at the same time.
22
30 sec
Q._______________________ is when a choice is made over choosing something else., ie., the highest valued alternative is forgone. Individuals must consider the value of what is given up when making a choice.
23
30 sec
Q.An economy in which decisions are made by the people and the government.
24
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Q.Many businesses fail in their first year of operation
25
30 sec
Q.The biggest expense of businesses is
26
30 sec
Q.Which major category of business is the fastest growing in the U.S. economy?
27
30 sec
Q.A unique business organized by two or more other businesses to operate for a limited time and for a specific project is called a
28
30 sec
Q."After receiving a shipment, the warehouse supervisor......" The above is an example of
29
30 sec
Q.The first basic activity of a business is to come up with ideas. The second is to
30
30 sec
Q.The cost of borrowing money is
31
30 sec
Q.A legal process that allows part of your paycheck to be withheld for payment of a debt
32
30 sec
Q.Loan guaranteed only by a promise to repay it: No collateral
33
30 sec
Q.The original amount borrowed
34
30 sec
Q.The process of matching your checkbook register with bank statements
35
30 sec
Q.Represent money you have authorized your bank or other organization to move from one account to another at regular intervals (bills, donations, etc.)
36
30 sec
Q.What do you write on a check if you mess up or need to get rid of it?
37
30 sec
Q.Problematic instuitions include all of the foollowing except
38
30 sec
Q.An amount owed (financial responsibility)
39
30 sec
Q.A savings alternative in which money is left on deposit for a stated period of time to earn a fixed rate of return. Penalties if money is withdrawn early before maturity
40
30 sec