
Spring 2024 Pricing Study Guide
Quiz
•
Business
•
9th Grade
•
Hard
Kaitlyn Fogle
FREE Resource
Enhance your content in a minute
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A satisfactory price means:
that the consumer views the purchase as a value
A business makes a profit on the sale
Both a & b
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
____ establishes and communicates the value of products and services to prospective customers.
Advertising
Promotion
Marketing
Pricing
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are goals for pricing EXCEPT
Gaining market share
Getting a high return on investment
Having the lowest prices and profit margins
Pricing competitively
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Pricing is important because it establishes and maintains
Competitive edge
Image
Profits
All of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
____ describes the relationship between changes in a product’s price and the demand for that product.
Utility
Elasticity of Supply
Elasticity of Demand
Economics
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the price of a diabetes medicine jumped from $100 a month to $500 a month, David still purchased the product because it is necessary for his survival. This is an example of
Elasticity of Supply
Inelastic demand
Inelastic Supply
Elasticity of Demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rack Room Shoes advertises that customers can purchase one pair of shoes and get the next pair for $5. The sale is very effective, and inventory is greatly diminished. This is an example of __________.
Elasticity of Supply
Inelastic demand
Inelastic Supply
Elasticity of Demand
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