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Chapter 5 Marketing Essentials

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KG - University

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Chapter 5 Marketing Essentials
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42 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the free enterprise system concept who decides whether or not a business will survive?

the consumers
the owners
the government
the competitors

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses stress quality products, services, & financing when engaged in non-price competition.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sales and rebates are examples of what strategy?

Price Competition
Low Fares
Competitive Edge
Roll Backs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competition forces businesses to produce poor-quality products at low prices.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What occurs when the potential for earning increases?

Competition increases
Risk increases
Taxes decrease
The marketing expenditure decreases

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of most businesses?

To produce products
To serve as a board of directors
To compete
To provide government services

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the supply of a product exceeds the demand, businesses usually lower its price.

True
False

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