WorksheetsCh. 10 The MarketPlace Review
Total questions: 35
Worksheet time: 18mins
What is a marketplace?
Physical location of a retailer
Large, outdoor group of retailers.
Anywhere buyers and sellers meet to exchange goods.
Exterior signage on a storefront.
Which of the following is not a type of promotion?
odd pricing
advertisement
selling
sales promotion
A(n) _____ is a situation in which a buyer and a seller have competing goals.
impasse
conflict of interest
negotiation
haggle
Spending more money than a person can afford to spend is called _____.
bankrupting
under budgeting
overdrawing
overspending
Which best describes the sale of merchandise on television through shopping networks or commercials?
e-commerce
comparison shopping
deceptive advertising
t-commerce
What best describes a printed or electronic offer giving a discount for goods or services bought before a certain date?
rebate
customer loyalty program
coupon
clearance
The _____ of a product is the cost per weight or measure.
unit price
cost
markup
loss
What is a brick-and-mortar store?
retail store that sells construction equipment.
A retail store that sells directly from a physical location.
A retail store that supports the economy of the town in which it is located.
A retail store that also houses corporate offices.
What do nontraditional sellers do?
Nontraditional sellers sell unique and one-of-a-kind goods.
Nontraditional sellers provide goods that are not commonly sold in stores.
Nontraditional sellers provide goods and services without a brick-and-mortar location.
Nontraditional sellers provide services not commonly found at other stores.
Which of the following is not a form of nontraditional selling?
catalogs
telemarketing
online auctions
department stores
Items that do not wear out quickly.
comparison shopping
consumer cooperative
durable goods
express warranty
Completely covers the repair or replacement of any defect in a product.
full warranty
extended warranty
implied warranty
limited warranty
Nonretail association owned and operated by a group of members for their own benefit rather than for profit.
consumer cooperative
buying incentive
comparison shopping
advertising
Guarantee for service, repairs, and replacements only under certain conditions.
extended warranty
full warranty
implied warranty
limited warranty
Special offer by sellers designed to help sell goods and services.
advertising
buying incentive
comparison shopping
consumer cooperative
Clearly stated and can be written or verbal.
express warranty
extended warranty
full warranty
implied warranty
Guarantee that a product will meet certain performance and quality standards.
price
research
review
warranty
Advertising is an announcement promoting the sale of a good or service
True
False
A review is a critical report about an item.
True
False
Covers servicing and repairs that may be required after the initial warranty expires.
express warranty
extended warranty
full warranty
implied warranty
Process of gathering information about products to find the best option among similar products.
buying incentive
comparison shopping
consumer cooperative
______________________________ means something is no longer useful because a newer version exists.
Older
Obsolete
underrated
Done
The sale of merchandise by phone is telemarketing
True
False
A(n) spending plan is a strategy to help an individual make smart choices and get the most out of his or her money.
True
False
Making a purchase without first considering needs, goals, or the consequences of spending money is ______________________________ and can consume a sizable amount of money over time.
impulse buying
trend buying
ultra buying
impulse spending
A(n) ______________________________ is a governmental regulation that requires certain information be placed on labels for certain products.
labeling law
tag law
label tagging
labeling
A(n) ______________________________ is a cash back offer.
rebate
Return
cash option
rebate offer
A(n) ______________________________ is a group or organization that tests products and rates them according to certain criteria.
testing and rating service
Label service
product safety and rating service
An unwritten promise that a product must be fit for any performance or purpose promised by the seller is ______________________________.
implied fitness
implied warranty
implied merchantability
Implied law
Attempting to convince a buyer to make a quick decision is called ______________________________.
high pressure selling
high pressure
selling pressure
Information that purposely misleads a consumer through dishonest claims is ______________________________.
deceptive advertising
deceptive
lies
______________________________ is the process of communicating with potential customers in an effort to influence their buying behavior.
Promotion
Big sale
tent sale
event
In a(n) ______________________________, the participant must wager something to win.
game of chance
game
roulette
wheel of fortune
An unwritten guarantee that a product is what it is called and does what the name implies is ______________________________.
implied merchantability
implied selling
implied warranty
implied offer
Items that are used up immediately in one use or will wear out in fewer than three years are ______________________________.
nondurable goods
durable goods
implied goods
goods
