LAP EC 912

LAP EC 912

12th Grade

20 Qs

quiz-placeholder

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LAP EC 912

LAP EC 912

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

Natalie Coronas

Used 6+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is one of the main principles of the private enterprise system?

Monopolies

Competition

Price fixing

Exclusive agreements

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Burger King and McDonald's are examples of

Regulated monopolies

Dissimilar firms

Unrelated businesses

Direct competitors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a consumer chooses to go to the movies rather than to a pizza parlor, then the movie theater and the pizza parlor are

Direct competitors

Engaged in prospecting

Indirect competitors

Engaged in price competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Most businesses put their greatest competitive efforts into competing

Locally

With direct competitors

Nationally

With indirect competitors

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An electronics store charges less for a new television than other electronics stores. The store is engaging in __________ competition.

Price

Unethical

Nonprice

Sales

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When Maura purchased a new car, she was able to get part of the purchase price back from the car's manufacturer. The car's manufacturer engaged in

Price fixing

Clearance sales

Nonprice competition

Offering rebates

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Offering high quality, large assortments, and free shipping are examples of

Rebates

Price fixing

Nonprice competition

Price competition

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