POM Review

What is the amount of money a business charges for items it offers for sale?

• Profit

• Price

• Cost

• Margin

What is the amount of money the store pays to purchase the merchandise from a supplier?

• Cost

• Profit

• Price

• Margin

What is the total revenue of a business minus all expenses over a specific period of time?

• Markdown

• Market Share

• Profit

• Supply and Demand

What is the difference between the retail price of an item and the cost of the item to the store?

• Supply and Demand

• Margin

• Margin Points

• Margin

What is the principle that describes the amount of product available to sell and the willingness of the customers to buy that product?

• Supply and Demand

• Markdown

• Market Share

• Cost

What is the percentage that a store has of the total sales in its trading area?

• Market Share

• Sales tax

• Price

• Markdown

What is the reduction in price of merchandise to increase sales of a product not selling according to projections?

• Sale

• Advertising

• Markdown

• Cost

What is the difference between the retail price of an item and the cost of the item, expressed as a percentage of price?

• Margin

• Cost

• Price

• Margin Point

What is the term used to define the number of people who go by a store location during a given time?

• Traffic

• Demographics

• Target Market

• Events

What is the term used to define one that sells the same or comparable merchandise?

• Complementary Business

• Trade Area

• Competitive Business

• Competition