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SEM - Chpt 3 - Review

Authored by Beverly Brown

Business

12th Grade

Used 7+ times

SEM - Chpt 3 - Review
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An activity that will produce money is called a(n) ___.

revenue stream

possession utility

economic utility

profit motive

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The major reason for being in business is ___.

the challenge

the profit motive

the tax write off

the lack of competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tickets to the Super Bowl or World Cup are a scarce resource,

so demand for the tickets is very high

so demand for the tickets is very low

so these events are never sold out

but this does not affect demand for the tickets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of satisfaction that people believe they receive from the entertainment is referred to as ___.

form utility

economic utility

place utility

time utility

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Forecasting involves ___.

purchasing and promotion

pricing and ticket sales

predicting costs and revenue

planning, distribution, price, and advertising

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bringing a new professional team to a major city is an example of a(n) ___.

speculative risk

controllable risk

insurable risk

uncontrollable risk

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

___ is the possibility of financial gain, loss, or personal injury.

Profit

Risk

Insurance

Utility

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