Price

Price

11th Grade

15 Qs

quiz-placeholder

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Price

Price

Assessment

Quiz

Business

11th Grade

Medium

Created by

Mahrosh Ahmed Farooq

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might happen if the global price of oil increases?

Petrol company increases its prices

Petrol company decreases its prices

Petrol company stays the same

Petrol company closes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of using a high price strategy?

To signal luxury or quality

To sell more products

To attract more customers

To reduce costs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one challenge of a high price strategy?

Attracting customers

Finding products

Reducing prices

Increasing costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do customers look for the cheapest product?

To spend more money

To save money

To waste money

To lose money

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might low prices be associated with?

High quality

Poor quality

No quality

Medium quality

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When will customers buy a product at a low price?

If they see it as a waste of money

If they see it as value for money

If they see it as too expensive

If they see it as useless

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the tactic used in market skimming pricing?

Price initially high

Prices reduced for short time

Prices kept low

Business makes a profit

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