Goods/Services Review

Which of the following terms is described here: something a consumer can buy, own and take home with them?

• Good

• Service

• Mass marketing

• Credit

Which of the following terms is described here: something that a person pays another person to do for them?

• Good

• Service

• Mass marketing

• Credit

Which of the following terms is described here: using advertisements to let people know that a product/service is available to buy?

• Good

• Service

• Mass marketing

• Credit

Which of the following terms is described here: changing the way things are done in an industry to make your product/service unique?

• Risk

• Innovation

• Mass marketing

• Profit

Which of the following terms is described here: choosing to try something new or start a new business that may not be successful in the end?

• Risk

• Innovation

• Services

• Profit

Which of the following terms is described here: the money a business makes after subtracting its costs?

• Risk

• Innovation

• Services

• Profit

Which of the following is NOT a component of mass marketing?

• One-price system

• Advertising

• Standard packaging

• GDP

Which of the following is NOT an advertisement appeal strategy?

• Fear response

• Emotional response

• Humor response

• Scarcity response

• Profit response

Which of the 3 "ways to pay" are described here?

Advantages- can pay immediately, can budget easier, can't go into debt

Disadvantages- could lose it, might not have enough money to buy in the moment

• Cash/debit

• Installment loans

• Credit

• Profit

Which of the 3 "ways to pay" are described here?

Advantages- adds to your credit score, can pay in an emergency, helps create healthy money habits if used correctly

Disadvantages- have to pay interest, really high interest rates, could create massive amounts of debt

• Cash/debit

• Installment loans

• Credit

• Profit