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R064 Key Terms Quiz

Authored by N Dervey

Business

10th Grade

Used 7+ times

R064 Key Terms Quiz
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42 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

This is the way a company breaks up the market into similar types of customer. This can be based on; age, gender, income, occupation, geographical location and lifestyle.

Market segmentation

Market research

Primary (field) market research

Secondary (desk) market research

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

The action or activity of gathering information about consumers' needs and preferences

Market segmentation

Market research

Primary (field) market research

Secondary (desk) market research

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

Involves gathering new data that has not been collected before. For example, surveys using questionnaires or interviews with groups of people in a focus group.

Market segmentation

Market research

Primary (field) market research

Secondary (desk) market research

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

Involves gathering existing data that has already been produced. For example, researching the internet, newspapers and company reports.

Market segmentation

Market research

Primary (field) market research

Secondary (desk) market research

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

A cost that stays the same in relation to output. These stay the same even if more is produced.

Fixed costs

Variable costs

Total costs

Revenue

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

A cost that changes in relation to output. These change if more is produced.

Fixed costs

Variable costs

Total costs

Revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key term has the following definition:

The amount of money spent by a firm on producing a given level of output.

Total cost = Fixed cost + variable costs

Fixed costs

Variable costs

Total costs

Revenue

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