Marketing: Chapter 5 Test

Used to plan, organize, and control all available resources in order to produce and market goods and services.

• Business

• Management

• Wholesalers

• Retailers

Business has two primary functions--what are they?

• Financing and Management of goods and services

• Production and Financing of goods and services

• Production and Marketing of goods and services

• Management and Marketing of goods and services

The process of creating, growing, manufacturing, or improving on goods and services

• Production

• Managing

• Marketing

• Financing

The exchange process occurs when customers exchange money for goods and services

• True

• False

This can mean money or anything that can be sold quickly to get money. It can also mean borrowing money.

• Marketing

• Retailing

• Finance

• Profit

Businesses can be categorized in each of the following ways EXCEPT?

• By profit orientation

• By market served

• By kind of product provided

• By price of each product

A large business is classified as one which employs over 100 people.

• True

• False

What percent of all U.S. businesses are classified as small businesses?

• 80%

• 85%

• 90%

• 95%

Small businesses employ less than half of the private-sector work force.

• True

• False

Which market is comprised of buyers in a single country?

• Global

• Domestic

• Public

• Private