Marketing Unit 4

Marketing Unit 4

Assessment

Flashcard

Business

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

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23 questions

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1.

FLASHCARD QUESTION

Front

An unethical pricing practice when a firm charges different prices to similar customers in similar situations.

Back

Price discrimination

2.

FLASHCARD QUESTION

Front

An illegal pricing practice when competitors agree on certain price ranges within which they set their own prices.

Back

Price fixing

3.

FLASHCARD QUESTION

Front

_____ is the amount of money charged for a product or service.

Back

Price

4.

FLASHCARD QUESTION

Front

Price is the only element in the marketing mix that produces _____

Back

revenue

5.

FLASHCARD QUESTION

Front

Costs that do not vary with production or sales level are referred to as _____.

Back

fixed cost

6.

FLASHCARD QUESTION

Front

Under _____, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, butter, or milk.

Back

pure competition

7.

FLASHCARD QUESTION

Front

When companies set prices, the government and social concerns are two _____ affecting pricing decisions.

Back

external factors

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