Chapter 5 Final Review

Chapter 5 Final Review

10th - 12th Grade

27 Qs

quiz-placeholder

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Chapter 5 Final Review

Chapter 5 Final Review

Assessment

Quiz

Life Skills

10th - 12th Grade

Medium

Created by

Erin Sackett

Used 2+ times

FREE Resource

27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses stress quality of products, services, and financing when engaging in non-price competition.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competition forces businesses to produce poor-quality products at low prices.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the supply of a product exceeds the demand for it, businesses usually lower the product’s price.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Due to deregulation of the utility companies, the United States government does not restrict the prices charged by gas and electric companies.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses in the private sector produce the same product or group of products.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Sales and rebates are examples of what strategy?

Price Competition

Low Fares

Competitive Edge

Roll Backs

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the purpose of a licensing agreement?

allows doctors to treat patients

protects corporations from fraud

protects an originator from unauthorized copying of name and products

allows businesses to operate in areas previously zoned as residential

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