Fashion Merchandising Unit 4

Which competitive market structure does this describe? Department store in small, rural town with no competitors that dominates the industry in that area.

• monopoly

• nonprice competition

• oligopoly

• pure competition

What is a basis for psychographic segmentation?

• customer location

• education level

• income

• lifestyle

Which business organization type is complex, expensive to form, and heavily taxed?

• corporation

• partnership

• sole proprietorship

• nonprofit

A customer questionaire is an example of:

• fashion forecast

• fashion publication

• sales brochure

• consumer survey

PacSun makes hundreds of beach towels to sell at their coastal locations. Beach towels are an example of:

• furniture

• goods

• services

• supplies

The most expensive jewelry including diamonds, emeralds, gold, and platinum is classified as:

• bridge

• costume

• faux

• fine

Which business organization is characterized by a large company that requires specialized management and work skills?

• corporation

• partnership

• sole proprietorship

• nonprofit

Which business organization would be best best for you if you prefer to work alone and enjoy the prestige and feeling of accomplishment that comes with owning a business?

• corporation

• partnership

• sole proprietorship

• nonprofit

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

• be average

• decrease

• increase

• remain the same

James buys his wife a new purse. She immediately begins to use it on a daily basis. What is his wife's role?

• consumer

• wholesale

• customer

• supplier