CH 6 Price Planning Review Quiz
Authored by Therese Tolley
Business
12th Grade
Used 15+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a change in price has little effect on demand for a product it is called...
Competition
Elastic Demand
Inelastic Demand
Price
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The relative standing a competitor has in a given market in comparison to its competitors.
Inelastic Demand
Market Position
Market Share
Elastic Demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm's percentage of the total sales volume generated by all competitors in a given market
Competition
Market position
Inelastic demand
Market Share
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The degree to which demand for a product is affected by its price
Demand elasticity
Inelastic Demand
Competition
Market Share
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The four factors that affect the price of the product include costs & expenses, supply & demand, consumer perception, and what else?
Market share
Market position
Competition
Demand elasticity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A change in price creates a change in demand
Elastic demand
Inelastic demand
Market share
price
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The value of money (or its equivalent) placed on a good or service
Elastic demand
Market share
Market position
Price
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