
Chapter 5 Final Review
Quiz
•
Life Skills
•
10th - 12th Grade
•
Medium
Erin Sackett
Used 2+ times
FREE Resource
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27 questions
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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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