Fashion Merchandising Unit 4.00 Test Review

Deon works for a company that is complex, expensive to form, and heavily taxed. Which type of business organization does this describe?

• Corporation
• Partnership
• Sole proprietorship
• Nonprofit

What is a basis for psychographic segmentation?

• Customer location
• Education level
• Income
• Lifestyle

There is only one department store in a small, rural town in North Carolina without any competitors. The store dominates the industry in that area. This describes which competitive market structure?

• Monopoly
• Nonprice Competition
• Oligopoly
• Pure competition

Caroline received a questionnaire in the mail that asked questions about her income, lifestyle, fashion preference, and shopping habits. The questionnaire is a:

• consumer survey.
• fashion forecast.
• fashion publication.
• sales brochure.

Ashley prefers to work alone and enjoys the prestige and feeling of accomplishment that comes with owning a hair salon. Which type of business organization does this describe?

• Corporation
• Partnership
• Sole proprietorship
• Nonprofit

Reggie has an interview with a large company that requires specialized management and work skills. He will be required to manage a large group of people. Which type of business organization does this describe?

• Corporation
• Partnership
• Sole proprietorship
• Nonprofit

Trey buys his wife a new purse for Mother’s Day. She immediately begins to use it on a daily basis. In this example, what is the wife’s role?

• Consumer
• Wholesale
• Service
• Supplier

Each year, PacSun makes hundreds of beach towels to sell at their coastal locations. In this example, the beach towels are:

• furniture.
• goods.
• services.
• supplies.

Sweaters originally priced to sell for $92.79 are marked down 75%. What is the sale price?

• $22.18
• $23.20
• $68.13
• $69.59

When the price of a product or service increases, demand will usually:

• be average.
• decrease.
• increase.
• remain the same.