SEM Unit 2

Nike is able to product their shoes faster and cheaper than Reebok, so they have a

• productive benefit

• comparative advantage

• target market

• market segment

Spencer is putting on a concert and spent $250,000 on purchasing merchandise, setting up the venue, and paying workers. If he makes $250,000 in ticket and merch sales, he will meet the ____________.

• Profit Motive

• Comparative Advantage

• Opportunity Cost

• Breakeven Point

What is the top level of Maslow's Hierarchy of needs?

• Physiological

• Security

• Social

• Self-Actualization

Molly bought a bucket of ice cream because she was sad about her boyfriend dumping her. This is an example of a ________ purchase

• Emotional

• Rational

• Patronage

Buying a new TV after careful research and planning is a(n)__________ purchase

• emotional

• rational

• patronage

Buying new Nike shoes after your old Nike shoes get dirty becuase you love the brand is an example of a __________ purchase

• emotional

• rational

• patronage

Buying a daily Starbucks drink is an example of a(n) ________ purchase

• emotional

• rational

• patronage

Chris bought a Chiefs shirt after their Super Bowl win because he was so excited! This is a(n) ________ purchase

• emotional

• rational

• patronage

Buying a new car after going to 3 car dealerships to find the best deal is an example of a(n) ____________ purchase.

• emotional

• rational

• patronage

The decision making process ends with what step?

• recognize a need or want

• gather information

• decide what to purchase

• evaluate product after purchase