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Chapter 25 Review

Authored by Jeff Lemon

Life Skills

9th - 12th Grade

Used 12+ times

Chapter 25 Review
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18 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A firms' percentage of the total sales volume generated by all competitors in a given market is which of the following?

Market Position

Market Share

Break-even Point

Market Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a product is a necessity, demand tends to be elastic.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A calculation that is used to determine the relative profitability of a product is called what?

Return on Investment (ROI)

Market Position

Break Even Point

Market Demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pricing is a key factor in the success or failure of a product or service and a business.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are a form of pricing?

Fees

Rent

Wages

All Selections are Correct

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price can be expressed in a non-monetary term, such as a free good or service.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does appropriate pricing accomplish?

Competitive Edge

Lose of Consumers

Lose of Profit

Terrible Customer Image

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