Ch. 8- Pricing Your Product
Answer the questions from Ch. 8 in the" Marketing Yourself" book.
- 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
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