Ch. 8- Pricing Your Product

60 Questions | Attempts: 202
Share

SettingsSettingsSettings
Ch. 8- Pricing Your Product - Quiz

Answer the questions from Ch. 8 in the" Marketing Yourself" book.


Questions and Answers
  • 1. 
    Monetary transactions and barter transactions are two types of exchanges.
    • A. 

      True

    • B. 

      False

  • 2. 
    Anything that holds exchange value.
    • A. 

      Commodity

    • B. 

      Price

    • C. 

      Stock

    • D. 

      Money

  • 3. 
    Has no value until it is exchangeable for goods and services.
    • A. 

      Commodity

    • B. 

      Money

    • C. 

      Price

    • D. 

      Stock

  • 4. 
    The compensation an employee recieves for his or her services.
    • A. 

      Money

    • B. 

      Salary

    • C. 

      Bonus

    • D. 

      Time off

  • 5. 
    Preferred commodities were chosen for many different reasons: including ease of storage, ease of transport and inexpensiveness.
    • A. 

      True

    • B. 

      False

  • 6. 
    The amount of money that must be exchanged for a good or service.
    • A. 

      Price

    • B. 

      Money

    • C. 

      Barter

    • D. 

      Demand

  • 7. 
    Gold is the common denominator or thread of exchange.
    • A. 

      True

    • B. 

      False

  • 8. 
    Refers to how much of a product consumers are willing to purchase.
    • A. 

      Supply

    • B. 

      Demand

    • C. 

      Price

    • D. 

      Product

  • 9. 
       Some jobs pay more because the skills required are not scarce in the labor force, meaning fewer people possess these skills.
    • A. 

      True

    • B. 

      False

  • 10. 
    Considering market forces can help you make informed career decisions.
    • A. 

      True

    • B. 

      False

  • 11. 
    Setting your _________ is an important factor to consider when searching for employment.
    • A. 

      Supply

    • B. 

      Price

    • C. 

      Location

    • D. 

      Demand

  • 12. 
    The mathematical "mean" of the salaries of all people employed in that position.
    • A. 

      Compensation

    • B. 

      Money

    • C. 

      Average salary

    • D. 

      Gross income

  • 13. 
    A job or position offered to an inexperienced person that usually pays low wages but provides training and experience and the prospect of future advancement.
    • A. 

      Promotion

    • B. 

      Entry-level position

    • C. 

      Top-level position

    • D. 

      Middle-level position

  • 14. 
    Identified minimum and maximum range of compensation. 
    • A. 

      Promotion range

    • B. 

      Salary range

    • C. 

      Bonus range

    • D. 

      Target range

  • 15. 
    Supply and demand can affect salary ranges.
    • A. 

      True

    • B. 

      False

  • 16. 
    The industry itself can affect salary ranges.
    • A. 

      True

    • B. 

      False

  • 17. 
    A level of material comfort as measured by the goods, services, and luxuries available to an individual, group, nation, or socioeconomic group. 
    • A. 

      Standard of living

    • B. 

      Cost of living

    • C. 

      Cost of business

    • D. 

      Standard of business

  • 18. 
    The amount of money required to purchase the things you need to maintain your standard of living.
    • A. 

      Standard of living

    • B. 

      Cost of living

    • C. 

      Standard of business

    • D. 

      Cost of business

  • 19. 
    A department in an organization that supports the hiring process by preparing job descriptions, screening applicants, scheduling interviews, and passing on qualified candidates to the hiring manager
    • A. 

      Science department

    • B. 

      Human resource department

    • C. 

      Management department

    • D. 

      Administration department

  • 20. 
    A person who applies for or requests something; a candidate.
    • A. 

      Applicant

    • B. 

      Entrepreneur

    • C. 

      Employee

    • D. 

      Customer

  • 21. 
    ____________ often conduct employment surveys that may include salary information, or they may have access to other salary surveys.
    • A. 

      Clubs

    • B. 

      Associations

    • C. 

      Networks

    • D. 

      Unions

  • 22. 
    The level of education, experience, skills, and responsibilities required of the position also contribute to the salary range.  
    • A. 

      True

    • B. 

      False

  • 23. 
    Refers to how much of a product is offered to the market.
    • A. 

      Supply

    • B. 

      Demand

    • C. 

      Price

    • D. 

      Surplus

  • 24. 
    Money has no value until it is exchangeable for goods and services.
    • A. 

      True

    • B. 

      False

  • 25. 
    Once you have identified positions and industries, you can research salaries using job listings and employers, associations, career/placement offices, network contacts, and the Internet.
    • A. 

      True

    • B. 

      False

Related Topics

Back to Top Back to top
×

Wait!
Here's an interesting quiz for you.

We have other quizzes matching your interest.