Could You Pass This Marketing Exam? Quiz

43 Questions | Total Attempts: 85

SettingsSettingsSettings
Please wait...
Could You Pass This Marketing Exam? Quiz

.


Questions and Answers
  • 1. 
    The output of goods and services produced by labor and property located within a country is GNP.
    • A. 

      True

    • B. 

      False

  • 2. 
    Which economy would best describe that of the U.S.?
    • A. 

      Mixed economy

    • B. 

      Traditional economy

    • C. 

      Socialist economy

    • D. 

      Command economy

  • 3. 
    If you lived in a socialist country you would pay _________taxes than if you lived in the U.S.
    • A. 

      Lower

    • B. 

      Higher

    • C. 

      Just the same

    • D. 

      None of the above

  • 4. 
    The following are political philosophies
    • A. 

      Traditional, market, command

    • B. 

      Specialization, scarcity, mixed

    • C. 

      Capitalism, communism, socialism

    • D. 

      None of the above

  • 5. 
    What 3 broad categories do economists use to classify all economic systems?
    • A. 

      Mixed, capitalism, specialization

    • B. 

      Capitalism, socialism, market

    • C. 

      Command, traditional, socialism

    • D. 

      Traditional, market, command

  • 6. 
    What 3 factors affect the business cycle?
    • A. 

      Consumers, foreign countries, businesses

    • B. 

      Businesses, consumers, the government

    • C. 

      Businesses, competitors, foreign trade

  • 7. 
    Which of the following best describes the political and economic philosophy characterized by marketplace competition and private ownership of businesses?
    • A. 

      Communism

    • B. 

      Capitalism

    • C. 

      Socialism

    • D. 

      Reformism

  • 8. 
    A market economy is different than a command economy because
    • A. 

      There is no government involvement in economic decisions

    • B. 

      It is a traditional economic system

    • C. 

      Businesses cannot decide how much goods to produce

    • D. 

      It is a mixed economy

  • 9. 
    A healthy economy has 3 goals; they are
    • A. 

      Increase productivity, increase unemployment, increase interest rates

    • B. 

      Decrease unemployment, increase prices, increase interest rates

    • C. 

      Increase productivity, decrease unemployment, maintain stable prices

    • D. 

      Maintain prices, graduate students, decrease productivity

  • 10. 
    Businesses lower a product's price when the supply of the product exceeds the demand for it, according to the laws of supply and demand.
    • A. 

      True

    • B. 

      False

  • 11. 
    Competition stops a company from acting without regard for the customer.
    • A. 

      True

    • B. 

      False

  • 12. 
    What is the term for the struggle between companies for customers?
    • A. 

      Profit

    • B. 

      Promotion

    • C. 

      Surplus

    • D. 

      Competition

  • 13. 
    What is the group that decides whether or not a business will survive?
    • A. 

      The consumers

    • B. 

      The owners or board of directors

    • C. 

      The government

    • D. 

      The competing businesses

  • 14. 
    The balance sheet contains the following:
    • A. 

      Assets, employee names

    • B. 

      Competitors, owners' equity, liabilities

    • C. 

      Assets, liabilities, owners' equity

    • D. 

      Liabilities, Sporting KC revenue, assets

  • 15. 
    What is a nonprofit organization?
    • A. 

      An organization that cannot make a profit

    • B. 

      An organization that cannot generate income

    • C. 

      An organization that has no employee on payroll

    • D. 

      An organization that functions like a business, but reinvests the money it makes in the cause it supports

  • 16. 
    _____________ are prohibited in a free enterprise system because they prevent competition.
  • 17. 
    Nebraska Furniture Mart price matches or advertises that it is "never undersold"; as a result, it is engaging in  _____________ competition.
  • 18. 
    PacSun's financials for 2012 are below.  How much are the Assets?   Balance Sheet Assets ???? Liabilities $242.03M Owners' Equity $113.1M
  • 19. 
    According to the textbook, the PLACE is the means of getting the product into the consumer's hands.
    • A. 

      True

    • B. 

      False

  • 20. 
    "Buy one get one free" is an example of promotion.
    • A. 

      True

    • B. 

      False

  • 21. 
    People who share similar needs and wants and who can purchase your products are called a market.
    • A. 

      True

    • B. 

      False

  • 22. 
    The owner of a miniature golf business provides her customers with?
    • A. 

      A promotion

    • B. 

      A good

    • C. 

      An exchange

    • D. 

      A service

  • 23. 
    Which of the following utilities is not directly related to marketing?
    • A. 

      Information utility

    • B. 

      Form utility

    • C. 

      Place utility

    • D. 

      Possession utility

  • 24. 
    An ONW student that buys a drink out of the vending machine for himself/herself is considered...
    • A. 

      A customer

    • B. 

      A consumer

    • C. 

      A target market

    • D. 

      Both customer and consumer

  • 25. 
    During the last 3 months of the year, Price Chopper stocks its shelves with plenty of canned pumpkin in order to increase the pumpkin's _______________ utility.
    • A. 

      Price

    • B. 

      Information

    • C. 

      Distribution

    • D. 

      Time

Back to Top Back to top