Marketing Ch. 6 Quiz

After a hurricane in Miami, Home Depot and Lowes stores can tremendously raise prices for home construction materials.

• True

• False

Competition forces businesses to produce poor-quality products at low prices.

• True

• False

What federal agency would regulate dangerous items that may cause harm to employees?

• Occupational Safety and Health Administration

• Federal Trade Commission

• Environmental Protection Agency

• Security Exchange Commission

A company's effort to produce environmentally safe products.

• monopolization

• marketing function

• marketing mix

• green marketing

A law that prohibits contracts that limit trade or competition in interstate commerce.

• Monopoly Act

• Sherman Antitrust Act

• Consumer Antitrust Act

• Whistle Blowing Act

As noted in the chapter, all are Federal Government roles in our economy except:

• regulator to protect consumers and business

• service provider

• enforcer of free enterprise

• marketer

Residents of the United States can buy anything allowed by the law because they have freedom of ________.

• ownership

• religion

• speech

• production

Green Marketing:

• is a special marketing strategy focusing on the psychology of the color green

• company’s effort to eliminate green dye from food products

• protects human health & consumers

• company’s effort to produce environmentally safe products

The Sarbanes Oxley Act not only protects whistle blowers, but it

• requires companies to report whistle blowers

• requires strict reporting of income and use of outside auditors

• protects profitability

• requires companies to make a profit

A ________ exists when a company has sole control over a product or the means of producing it

• free enterprise

• monopoly

• market economy

• oligopoly