Unit 2.2.2 Price

Unit 2.2.2 Price

10th Grade

10 Qs

quiz-placeholder

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Unit 2.2.2 Price

Unit 2.2.2 Price

Assessment

Quiz

Computers

10th Grade

Practice Problem

Hard

Created by

Jon Williams

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why would a luxury watch brand set its prices high?

To attract as many customers as possible

To impress others

For the perception of high quality

To make the product affordable

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price of a product falls, what usually happens to demand?

Falls

Increases

Stays the same

Nothing

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What could happen if a business sets its prices too low?

The business will fail to make a profit

The business is guaranteed sales

The business increases its reputation

Employees may leave the company

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these best describes a high volume pricing strategy?

A high volume of products produced at a low cost in the hopes of selling large quantities

Maximising the difference between the production cost and selling price of a product but selling lower quantities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these best describes a high margin pricing strategy?

A high volume of products produced at a low cost in the hopes of selling large quantities

Maximising the difference between the production cost and selling price of a product but selling lower quantities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The quality of a product is important when using a high margin pricing strategy.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these adds value to a product?

Production costs

Sales

Branding

Colour

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