Sports Marketing Fall 24 Final Exam Review

Front

The amount of product available to the market is known as which of the following?
Options: Interest, Demand, Supply, Resources

Back

Supply

Front

Which of the following is the rule which states at some point adding more factors to a production process will not improve returns? Factors of production, Place utility, Specialization, Law of diminishing returns

Back

Law of diminishing returns

Front

Advertising which informs consumers about a new product is an example of which of the following? Information utility, Place utility, Time utility, Possession utility

Back

Information utility

Front

Which type of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?

Back

Form

Front

When companies are understaffed employees can become overworked, cause a hostile work environment and increase the time of production.

Back

True

Front

Unprofitable firms negatively affect the economy by increasing the job market and increasing salaries and benefits.

Back

False

Front

When describing supply and demand, which defines when a product is demanded in larger quantities than is produced?

Back

Shortage

Front

Gross National Income includes all of the income earned by a country’s residents and businesses including those earned abroad.

Back

True

Front

Current events can impact personal financial decisions, particularly through the stock market?

Back

True

Front

Which of the following is an example of an objective? Increase sales, Increase repeat business by 15 percent over one year, Improve post-purchase relationships with customers, Call customers to verify satisfaction

Back

Increase sales