Intro to Business - Chapter 22 Test

Which term refers to a plan that specifies how resources will be spent?

• budget
• financial summary
• spending limit
• audit

Which often has a plain label?

• a sale item
• a generic product
• a used item
• a brand-name item

Which is NOT a decision consumers generally make when buying goods and services?

• where to buy
• when to buy
• what to buy
• why buy

Which of the following is an example of a discount store?

• Macy's
• Dillard's
• Wal-Mart
• Sears

Which type of store sells well-known brand names at bargain prices?

• department stores

• convenience stores

• limited-line retailers

• superstores

Which is NOT a factor in determining where to shop?

• kinds of services sold
• convenience
• prices
• employees

Which type of store might require customers to become a member to take advantage of benefits?

• discount store
• limited-line retailer
• warehouse store
• superstore

Which is NOT something consumers should do when preparing to shop?

• study advertisements
• read consumer publications
• look for sales gimmicks
• read labels and warranties

Which is an example of a clearance sale?

• end of summer sale on swimsuits
• President's Day sale
• autumn sale on new skis
• day after Christmas sale

When a product is advertised to sell at a less than cost to bring customers into a store.

• discount
• bargain
• loss leader
• gimmick