Chapter 3 Test

Front

Zoe is researching a federal agency that was created to protect consumers and promote business competition for her economics class presentation. Which agency is she studying?

Back

The Federal Trade Commission (FTC)

Front

Samuel is reviewing a commercial where the company is overstating the features and benefits of its new smartphone or making false claims about its capabilities. This practice is known as:

Back

false advertising

Front

Avery, a popular YouTuber, creates a video where they talk about their favorite brand of sports shoes. Avery mentions that they have been paid by the shoe company to promote their products. This is an example of what?

Back

endorsement

Front

What is the type of personal selling called when reaching out to potential customers through phone calls to sell products?

Back

telemarketing

Front

Nora and Jackson are discussing laws that ensure companies compete fairly and markets remain open. What are these laws called?

Back

Antitrust laws

Front

A situation where a single company, like 'Globex Corporation', has complete control over the entire supply of a particular product or service in the market is known as:

Back

monopoly

Front

Charlotte's tech startup is struggling financially and cannot continue operations. She is considering a legal process that allows her company to reorganize or go out of business. What is this process called?

Back

bankruptcy

Front

Arjun is involved in an activity related to creating a new mobile app, which is a type of product. What is this activity called?

Back

Production

Front

Zoe is planning to start a business that takes textiles from other producers and creates fashionable clothing items. What type of producer will her business be?

Back

Manufacturer

Front

Anika is an employee who directs the work of Evelyn and Mason and is responsible for carrying out the goals of the marketing department.

Back

manager