Principles of Business 2

Principles of Business 2

1st Grade

60 Qs

quiz-placeholder

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Principles of Business 2

Principles of Business 2

Assessment

Quiz

Business

1st Grade

Practice Problem

Hard

Created by

Shinique P

Used 7+ times

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60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is marketing?

The four basic marketing strategies, called the four Ps:  product, place, price, and promotion
the process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a good? 

Tangible items that have monetary value and satisfy your needs and wants
Intangible items that have monetary value and satisfy your needs and wants

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a service?  

Tangible items that have monetary value and satisfy your needs and wants
Intangible items that have monetary value and satisfy your needs and wants

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a marketing concept?

Understanding the economic principles and concepts that are basic to marketing
Idea that a business should strive to satisfy customer's needs and wants while generating a profit for the firm

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a market?  

All people who share similar needs and wants and who have the ability to purchase a given product
the process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A consumer market consists of consumers who purchase goods and services for personal use.

False
True

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Industrial market is that includes all businesses that buy products for use in their operations

True
False

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