Principles of Marketing: Semester Exam Review

Which of the following businesses is directly involved in marketing?

• a freight office

• a law office

• a bank

• all of the above businesses are directly involved in marketing

This marketing function provides security for products, personnel, and customers.

• selling

• pricing

• risk management

• promtion

Exchanging products or services with others by agreeing on their values is known as

• marketing

• selling

• promoting

• bartering

A location where people bring products to be conveniently exchanged is a

• central market

• crossroads

• stock exchange

• money system

Businesses that use the marketing concept

• have little need of market research and marketing information systems.

• use marketing to identify and understand its customers.

• do not care much about customers needs, likes and dislikes.

• do not benefit much from marketing.

Marketing can

• increase international trade.

• help consumers make better decisions.

• improve the standard of living.

• all of these.

An organized effort to influence a company by refusing to purchase its products is called a

• strike

• embargo

• tariff

• boycott

This federal law protects small businesses from unfair pricing practices between manufacturers and large businesses.

• Sherman Antitrust Act

• Robinson-Patman Act

• Americans with Disabilities Act

• Fair Packaging and Labeling Act

The basic economic problem is

• greed

• supply

• demand

• scarcity

In this kind of economy, the government owns and controls important resources and makes the decisions about what will be produced and consumed.

• controlled

• market

• free

• mixed