Marketing & Management End of Pathway Study Guide

Front

People in this category are looking for the highest prices because their motive is to make the most profit.

Back

Seller's Market

Front

People in this category are looking for the lowest prices because they want the best value for their money.

Back

Buyer's Market

Front

As prices for a product increase,

Back

Supply Increases & Demand Decreases

Front

As prices for a product decrease,

Back

Supply Decreases & Demand Increases

Front

The price at which both buyers and sellers agree is known as ______.

Back

Market Clearing Price or Equilibrium

Front

When a company has a chance of losing money, this is an example of which of the following: Competition, Risk, Monopoly, Productivity?

Back

Risk

Front

Training employees on safety procedures is an example of which of the following ways to manage risk? Avoid, Shift, Retain, Reduce

Back

Avoid

Front

Buying insurance for a business in case of theft or fire is which of the following ways to manage risk?

Back

Shift

Front

Putting out “Wet Floor” signs is one way to handle risk and is known as which of the following?

Back

Reduce

Front

When a company sets a price for a product, which of the following are considered? Consumer perception and supply & demand, Cost of raw materials, supply & demand, competitor's price, consumer perception, Supply & Demand and Competitor's Price, Cost of raw materials and consumer perception

Back

Cost of raw materials, supply & demand, competitor's price, consumer perception