WorksheetsChapter 8 Sports & Entertainment Marketing Review Quiz
Total questions: 17
Worksheet time: 9mins
_______ is the study of how goods and services are produced/distributed, and consumed
Business
Economics
Marketing
Supply Chain Management
___________ is the relationship between the quantity of a product that consumers are willing and able to purchase and the price
Demand
Equilibrium
Supply
Pricing
_____________ is the relationship between the quantity of a product the producers are willing and able to provide and the price
Demand
Equilibrium
Supply
Pricing
_____________ are the ups and downs of the economy.
Business Cycle
Recession
Recovery
Trends
_____________ is the economic practice where consumers and business make their own decisions in regards to purchases and production
Closed Enterprise System
Free Enterprise System
Marketing
Pricing
During a ________________ consumers cut spending because it is difficult for them to afford multiple events
Business Cycle
Recession
Recovery
Pricing Period
During the __________ phase of the business cycle, demand and production increase.
Business Cycle
Recession
Recovery
Pricing Period
________ is the amount customers pay for products/services
Cash
Credit
Price
Promotion
________ is the amount customers pay for products/services
Cash
Credit
Price
Promotion
Salespeople use the ________ _____ _____________ practice when a product is advertised for a lower price but is out of stock so they sell a higher
Bait and Switch
Price discrimination
Price fixing
Trade-in allowance
The _________ ___________ are all costs associated with running a business in addition to the cost of merchandise.
Income statement
Markup pricing
Operating Expenses
Price model
Which pricing policy allows all customers pay the same price for a product ?
Flexible pricing policy
Geographic pricing
One-price policy
Tiered pricing
Which pricing policy allows customers to negotiate within a price range?
Flexible pricing policy
Geographic pricing
One-price policy
Tiered pricing
Which pricing policy creates multiple prices based on location?
Flexible pricing policy
Geographic pricing
One-price policy
Tiered pricing
Which pricing strategy involves a retailer charging low prices due to buying in bulk from supplier?
Prestige Pricing
Psychological Pricing
Trade-In Allowances
Volume Pricing
Which pricing strategy entails retailers charge higher than average prices for merchandise and target customers who seeking status and high quality?
Prestige Pricing
Psychological Pricing
Trade-In Allowances
Volume Pricing
Which one of the following is NOT a way that the government regulates pricing?
Antitrust Laws
Consumer Protection Laws
Issuing Bonds
Taxation
