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Chapter 11 & 12 (Money & banking), (Marketing)

Total questions: 50

Worksheet time: 50mins

Name
Class
Date
1.

_____________ is a bank that can lend money to other banks in times of crisis

a)

Congress

b)

Central Bank

c)

Department of the Interior

d)

National Bank

2.

____________ is the privately owned, publicly controlled central bank of the U.S.

a)

J.P. Morgan Chase

b)

Bank of America

c)

The Federal Reserve System (FED)

d)

Wells Fargo

3.

Which of the following is one of the three functions of money?

a)

scarcity

b)

portability

c)

divisibility

d)

store of value

4.

You can easily carry money in a pocket or a purse. This reflects what characteristic of money?

a)

durability

b)

legal tender

c)

divisibility

d)

portability

5.

Payment made for use of borrowed money

a)

deposit

b)

interest

c)

principal

d)

currency

6.

The Federal Reserve is ....

a)

made up of 12 district banks and member banks

b)

made up of independent district banks

c)

managed by 12 board of directors

d)

made up of the President's money

7.

Which type of account are your assets most liquid?

a)

checking

b)

savings

c)

money market

d)

stocks & bonds

8.

Which is NOT a feature of savings accounts?

a)

you can make unlimited transactions

b)

you can earn interest

c)

you have a minimum balance

d)

you can link it to your checking

9.
What is happening here?
a)
Bartering
b)
Cooking
c)
Flirting
d)
Machismo
10.

The best way for a government to get out of debt is to print more money?

a)

True

b)

False

11.
What is one difference between Banks and Credit Unions?
a)
Banks have Checking accounts and Credit Unions have Savings Accounts
b)
Banks are for profit.  Credit Unions are Non-profit.
c)
Banks can give loans and Credit Unions cannot
d)
Credit Unions allow everyone to join and Banks are selective
12.

an arrangement by which people borrow money from a bank to buy a house, and pay back the money over a period of years

a)

mortgage

b)

overdraft

c)

share

d)

refund

13.

The kind of bank that provides services for customers and businesses and that is used by most ordinary people

a)

Investment bank

b)

Merchant bank

c)

Commercial bank

d)

Central bank

14.

What is a mortgage used to purchase?

a)

Car

b)

Real Estate

c)

College Tuition

d)

Business Expenses

15.
Take out money.
a)
withdraw
b)
deposit
c)
cash
d)
cheque
16.
Put money in.
a)
withdraw
b)
cheque
c)
deposit
d)
bank account
17.
The fact that fruits do not have a good ________________________ means that they would not make good forms of money.
a)
Medium of exchange
b)
Units of account
c)
Store of value
18.
Banks, finance companies, credit unions, and insurance companies are all there, in part, to help you:
a)
Spend Money
b)
Keep things safe
c)
Cash checks
d)
Save money
19.
Your favorite stuffed animal would not be a very good _______________________ because it only has value to you.
a)
Unit of account
b)
Store of value
c)
Divisible product
d)
Medium of exchange
20.
Define Promotion
a)
Any from of communication a business or organization uses to inform, persuade, or remind.
b)
The number of different product lines a manufactures or sells
c)
The process of creating, growing, and manufacturing
21.
Deciding how much to charge for goods and services.
a)
Marketing
b)
Goods
c)
Pricing
d)
Selling
22.
Deciding on how goods get into customers’ hands.
a)
Selling
b)
Distribution
c)
Pricing
d)
Product service management
23.

A group of people who share one or more common characteristics, lumped together for marketing purposes

a)

market segment

b)

sales

c)

online advertising

d)

group sales

24.

How and where the product will be made available to consumers in the market, selection of distribution channels, and partners

a)

Product

b)

Place

c)

Promotion

d)

Price

25.

Successful organizations learn the preferences and behaviors of key customer segments through this process

a)

market research

b)

market segmentations

c)

choosing only one target market

d)

setting a price everyone can afford

26.
Developing, promoting, and distributing products to satisfy the wants and needs of a customer
a)
Goods
b)
Services
c)
Marketing
d)
Tangible
27.
Tangible products that we use to satisfy our wants and needs
a)
Goods
b)
Services
c)
Marketing
d)
Tangible
28.
Any place buyers and sellers exchange goods, services, and some form of money.
a)
Goods
b)
Advertising
c)
Marketing
d)
Marketplace
29.
Providing customers with the goods & services they want at a given cost
a)
Selling
b)
Place
c)
Promotion
d)
Marketplace
30.
If a business aims its advertising toward a specific group of consumers that have similar wants and needs, that group would be their _________.
a)
price
b)
supply and demand
c)
target market
d)
Marketing mix
31.
THE 4 P's - product, place, promotion, price
a)
price
b)
selling
c)
target market
d)
Marketing mix
32.
what to make, how to package it, what brand name to use and what image to project
a)
price
b)
product
c)
target market
d)
Marketing mix
33.

Eliminating possibilities until one or two ideas are selected for development.

a)

generating ideas

b)

screening ideas

c)

introducing the product

d)

evaluating customer acceptance

34.

A prototype is made and tested.

a)

testing the product

b)

evaluating customer acceptance

c)

screening ideas

d)

generating ideas

35.

Companies make plans relating to production, packaging, labeling, branding, promotion, and distribution.

a)

Testing the product

b)

developing the product

c)

evaluating customer acceptance

d)

generating ideas

36.

Marketers track customer responses to the product.

a)

Evaluating customer acceptance

b)

Developing the product

c)

Testing the product

d)

Testing a product proposal

37.

New product development generally involves ______ key steps.

a)

9

b)

7

c)

10

d)

5

38.

Creativity is essential in this step of new product development.

a)

Testing the product

b)

Development of the product

c)

Generating ideas

d)

Introduction of the product

39.

A model of a new product.

a)

protagonist

b)

prototype

c)

proton

d)

production

40.
Which of the following best describes market segmentation?
a)
Dividing a large market into a smaller sub-market
b)
Selling goods for less than their production cost to maximise sales
c)
Maintaining long-term ties with customers to encourage repeat sales
d)
Identifying the consumer groups most likely to buy a business's products
41.
Statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status
a)
Demographics
b)
Psychographics
c)
Behavioralistics
d)
Geographics
42.

Is this ...

a)

Price?

b)

Place?

c)

Promotion?

d)

Product?

43.

Is this ....

a)

Place?

b)

Product?

c)

Promotion?

d)

Price?

44.
  Effective marketing begins with a good product.
a)
True
b)
False
45.
A product can be
a)
an object or thing
b)
a concept or idea
c)
a service
d)
all of the above
46.

What happens if money is stable?

a)

Its value remains unchanged.

b)

Its value fluctuates.

c)

It loses acceptance with most people.

47.

Not-for-profit banks set up by organizations for their customers to use are called non profit organizations

a)

True

b)

False

48.

Which financial institution does NOT offer loans to its customers?

a)

mortgage companies

b)

insurance firms

c)

brokerage firm

d)

finance companies

49.

Currency and coins are available in multiple denominations because money needs to be ______

a)

accepted

b)

stable

c)

durable

d)

divisible

50.

Credit union customers are called ______ .

a)

associates

b)

creditors

c)

clients

d)

members

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