unit 5b: Pricing Quiz

unit 5b: Pricing Quiz

12th Grade

10 Qs

quiz-placeholder

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unit 5b: Pricing Quiz

unit 5b: Pricing Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Haley Ruckman

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for calculating Return on Investment (ROI)?

Profit / Investment

Investment - Profit

Investment / Profit

Profit x Investment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the point at which sales revenue equals the costs and expenses of making and distributing a product?

Revenue Balance

Break Even Point

Profit Point

Cost Equilibrium

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices?

Price Fixing

Price Discrimination

Resale Price Maintenance

Minimum Price Law

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor determines whether demand is elastic or inelastic based on the availability of substitute products?

Price relative to income

Availability of substitutes

Brand loyalty

Urgency of purchase

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of pricing for marketers?

Increasing advertising expenditures

Meeting the competition

Gaining market share

Earning a profit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the degree to which demand for a product is affected by its price called?

Market Responsiveness

Price Sensitivity

Consumer Affordability

Demand Elasticity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which law prohibits large companies from selling products at very low prices to drive out their competition?

Resale Price Maintenance Law

Minimum Pricing Law

Unfair Trade Practices Law

Price Fixing Law

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