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WorksheetsChapter 3: Purchasing Power
Total questions: 40
Worksheet time: 40mins
Rapidly rising prices that are out of control.
disinflation
deflation
hyperinflation
inflation
High prices followed by drops and then high prices again.
reflation
inflation
deflation
hyperinflation
Rising prices due to scarce resources or increased difficulty in obtaining resources.
demand-pull inflation
cost-push inflation
reflation
real-cost inflation
A decrease in the general level of prices for goods and services.
inflation
deflation
reflation
hyperinflation
Rising prices as a result of consumers wanting to buy more goods and services than producers supply.
demand-pull inflation
cost-push inflation
real-cost inflation
time value of money
Rising prices with the rate of increase slowing down.
deflation
reflation
disinflation
inflation
An increase in the general level of prices for goods and services.
reflation
inflation
hyperinflation
deflation
A concept that says a dollar you receive in the future will be worth less than a dollar you receive today.
time value of money
productivity
real-cost inflation
cost-push inflation
Rising prices as a result of producers' costs increasing.
demand-pull inflation
real-cost inflation
time value of money
cost-push inflation
Prices set to be competitive with prices of similar products.
market-based pricing
cost-plus pricing
value-based pricing
cost-recovery pricing
Prices are set based on what consumers are willing to pay.
cost-plus pricing
value-based pricing
cost-recovery pricing
market-based pricing
Percentage added to the cost of an item.
markup
retail price
cost
profit
Purchasing something on the spur of the moment without thinking.
rational buying
emotional buying
impulse buying
optimizing
Profit that allows a business to survive and grow.
normal profit
markup
optimizing
economizing
Saving as much as possible and spending money only when necessary.
optimizing
normal profit
economizing
markup
The process of selecting goods and services based on need, want, and logical choices.
emotional buying
impulse buying
economizing
rational buying
An introductory price set high to recover R&D costs.
cost-recovery pricing
cost-plus pricing
market-based pricing
value-based pricing
The process of purchasing products based on desire rather than logic.
rational buying
emotional buying
impulse buying
economizing
Setting a price based on a production cost plus markup.
cost-recovery pricing
market-based pricing
value-based pricing
cost-plus pricing
Getting the highest value for your money.
optimizing
economizing
emotional buying
impulse buying
Distributing product information directly to customers.
direct advertising
transit advertising
advertising
social media advertising
Offering low everyday prices, generally lower than competitors.
brand pricing
discount pricing
quality pricing
target pricing
Internet ads that open a new window in front of the web page being viewed.
banner ads
direct ads
pop-up ads
transit ads
Print ads or signs on public transportation.
direct advertising
transit advertising
social media advertising
advertising
Informing consumers about products and encouraging them to buy.
advertising
transit advertising
social media advertising
direct advertising
Process of checking prices among several sellers.
target shopping
brand shopping
comparison shopping
transit shopping
Carrying well-known brand names to attract customers who are loyal to those brands.
advertising strategy
target strategy
branding strategy
direct strategy
A specific group of people who are likely to buy a product.
target audience
advertising
comparison shopping
branding strategy
Internet ads that span the top, bottom, or sides of a web page.
pop-up ads
banner ads
transit ads
advertising
Customers are encouraged to return to a business through incentives.
target audience
branding strategy
customer loyalty
comparison shopping
Information on products advising consumers about risks and safety issues.
Warning label
infomercial
pyramid scheme
deception
False claims about a product.
bait and switch
low-balling
deception
Ponzi scheme
Copying the contents from one form of media to another for personal use.
bait and switch
space-shifting
time-shifting
low-balling
A lengthy paid TV ad that includes testimonials, demonstrations, and introductory prices.
Ponzi scheme
deception
pigeon drop
infomercial
Recording video or audio for later viewing or listening.
bait and switch
space-shifting
time-shifting
low-balling
Advertising a basic service at an unusually low price and then claiming additional services or repairs are needed.
space-shifting
low-balling
time-shifting
deception
A fraudulent investment operation in which money from new investors is used to pay off earlier investors.
deception
pyramid scheme
pingeon drop
Ponzi scheme
Advertising a bargain product with the intent of persuading consumers to buy a more expensive product once in the store.
bait and switch
infomerical
warning label
deception
Illegal multilevel marketing gimmick that promises commissions on one's own sales as well as on the sales of recruits.
pigeon drop
deception
Ponzi scheme
pyramid scheme
A con artist convinces a person to give up his or her money in return for a share of a larger sum of money.
pigeon drop
Ponzi scheme
pyramid scheme
deception
