Marketing Chapter 5:  The Free Enterprise System

Marketing Chapter 5: The Free Enterprise System

Assessment

Flashcard

Other, Specialty

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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25 questions

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1.

FLASHCARD QUESTION

Front

What is the term for the struggle between companies for customers?

Back

competition

2.

FLASHCARD QUESTION

Front

Sales and rebates are examples of what market strategy?

Back

price competition

3.

FLASHCARD QUESTION

Front

What is the function of a licensing agreement?

Back

protects businesses and individuals from unauthorized copying

4.

FLASHCARD QUESTION

Front

In business, when does the potential for profit increase? Options: as the competition increases, as the risk increases, as taxes decrease, as the marketing expenditure decreases

Back

as the risk increases

5.

FLASHCARD QUESTION

Front

What is the group that decides whether or not a business will survive?

Back

the consumers

6.

FLASHCARD QUESTION

Front

Which statement best describes free enterprise? A system that encourages people to start and operate their own businesses, A system where the marketplace determines prices, A system where people are free to own personal property, All of the above

Back

All of the above

7.

FLASHCARD QUESTION

Front

What is an advantage of free enterprise?

Back

Possibility of making profits

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