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Marketing Chapter 5: The Free Enterprise System

Authored by Sandra Eldridge

Other, Specialty

9th - 12th Grade

Used 35+ times

Marketing Chapter 5:  The Free Enterprise System
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

profit

promotion

surplus

competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sales and rebates are examples of what market strategy?

price competition

low fares

competitive edge

roll backs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the function of a licensing agreement?

allows hairdressers and barbers to perform their services

protects corporations from deceptive investors

protects businesses and individuals from unauthorized copying

allows businesses to operate in areas previously zoned as residential

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In business, when does the potential for profit increase?

as the competition increases

as the risk increases

as taxes decrease

as the marketing expenditure decreases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

the consumers

the owners or board of directors

the government

the competing businesses

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of free enterprise?

Freedom to do as you want with no legal restrictions

Possibility of making profits

No restrictions on business

No competition

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