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Marketing Final

Total questions: 30

Worksheet time: 15mins

Name
Class
Date
1.

You want to buy a box of Tomatoes. You go to the store and there are no boxes on the shelf. Which word would best describe this situation?

a)

Supply

b)

Demand

c)

Scarcity

d)

Abundance

2.

At my business, I have equipment, land, and buildings. Which type of resource am I?

a)

capital resources

b)

natural resources

c)

human resources

3.

We identify the direction in which an economy is heading by using what?

a)

economic indicators

b)

economic resources

c)

economic systems

d)

economic directions

4.

Switch to edit modeRemove pointsI am the cost to grow the product and to transfer the product to the store. What am I?

a)

cost of production

b)

services

c)

supply

d)

demand

5.

You are the owner of a business. What are you know as?

a)

entrepreneur

b)

boss

c)

head guy

d)

owner

6.

Walmart refuse to carry cigarettes due to the ill effects that this product has on human health. This would be an example of the:

a)

law of demand

b)

law of supply

c)

supply curve

d)

demand curve

7.

A baker owns a bakery that services the area customers. The customers love the bread at the bakery. The baker also counts on making money off the bakery in order raise a family and make a living. Which word best describes this situation?

a)

self-interest

b)

competition

c)

competitive advantage

d)

lost income

8.

Jersey Mikes and Pop Belly's go head to head in China for winning over customers. Which best describes this situation?

a)

competition

b)

self-interest

c)

discretionary income

d)

competitive advantage

9.

You decide to purchase a new car rather than replace the wireless router in your home. Which best describes this choice?

a)

opportunity cost

b)

scarcity

c)

competitive advantage

d)

self-interest

10.

The plotted chart that shows the relationship between price and quantity demanded.

a)

supply curve

b)

demand curve

11.

The limit on the amount of goods that can be imported.

a)

trade restrictions

b)

tariff

c)

quota

d)

embargo

12.

The agreement established between the U.S., Canada and Mexico on trading and important goods and supplies for businesses.

a)

NAFTA

b)

WTO

c)

GATT

13.

Another name for fluctuations in the economy.

a)

business cycle

b)

business growth

c)

business economy

d)

business clock

14.

A business uses this when they want to set structural and organizational plans for their business.

a)

business plan

b)

marketing plan

c)

board plan

d)

sales plan

15.

The debt that the business owes to its creditors.

a)

assets

b)

expenses

c)

liabilities

d)

revenue

e)

capital

16.

Subway adds fish to its menu during Lent. Which type of marketing strategy is this?

a)

niche marketing

b)

mass marketing

c)

smart marketing

d)

night marketing

17.

Potbelly's advertises to everyone. Which type of marketing strategy is this?

a)

niche marketing

b)

mass marketing

c)

smart marketing

d)

night marketing

18.

The other name for the 4Ps or the 7Ps of marketing.

a)

marketing mix

b)

marketing strategy

c)

marketing success

d)

marketing goals

19.

Working very well in an environment where I can work with a team and collaborate together on projects. What type of management style is this?

a)

horizontal management

b)

vertical managment

c)

top down management

d)

soft management

20.

Give me a project; let me work on it using my expertise; and I will get the job done by myself. What type of management style is this?

a)

horizontal management

b)

vertical management

c)

bottom down management

21.

My total wages earned for the period is $375.00. Another name for this type of wage is:

a)

gross earnings

b)

net earnings

c)

matching deductions

d)

voluntary deductions

22.

I work out of my home. Which type of rider would I want to include in my business policy?

a)

home-based

b)

general liability

c)

scripted policty

d)

commercial policy

23.

A type of advertisement that is usually hung up on walls or is handed to people individually is known as a what?

a)

flyer

b)

article

c)

business card

24.

When your costs of expenses and revenue are the same you are doing what

a)

Breaking Even

b)

Even Stevents

c)

On Point

25.

Of the 7 Ps of Marketing, which is used to collect data to show that your marketing strategy is effective?

a)

Physical Environment

b)

Price

c)

People

d)

Product

e)

Place

26.

Putting the right product or a combination thereof in the place, at the right time, and at the right price is called what?

a)

Marketing Targeting

b)

Marketing Mix

c)

Niche Marketing

27.

Products that can be touched

a)

tangible

b)

intangible

c)

selling

d)

labor

28.

takes place in the retail market for costumers and businesses

a)

selling

b)

pricing

c)

financing

d)

labor

29.

company credit card available to consumers

a)

possession utility

b)

information utility

c)

labor

d)

financing

30.

manuals that explain their products

a)

information utility

b)

possession utility

c)

financing

d)

labor