Marketing I Final Review

Listening is an active physical process.

• True

• False

A market includes people who share similar needs and wants, and can purchase a company’s products.

• True

• False

Time utility involves having a product available at a certain time of year or day.

• True

• False

The "buy one get one free" strategy is an example of distribution.

• True

• False

Information regarding ethnic backgrounds and household income facilitates market segmentation.

• True

• False

Sweden has a socialist economy; therefore, Swedes pay low taxes on income.

• True

• False

A country's infrastructure includes its roads, ports, sanitation facilities, and utilities.

• True

• False

Scarcity of resources forces nations to make economic choices.

• True

• False

Jason goes to high school and needs to earn extra money on the weekends, so he started an auto-detail service. He is an entrepreneur.

• True

• False

Which economic utility increased when fast-food restaurants began accepting credit cards?

• possession utility

• form utility

• information utility

• place utility