Select the term that best matches the definition: Items bought from other countries.

Select the term that best matches the definition: Things we must have to survive.

Select the term that best matches the definition: The blending of four marketing elements — product, price, place, and promotion.

Select the term that best matches the definition: The value of the next best alternative that you were not able to choose.

Select the term that best matches the definition: The point where supply and demand meet on a graph.

Select the term that best matches the definition: A business owned by a single person.

Select the term that best matches the definition: Amount available to businesses after all costs and expenses have been paid.

Select the term that best matches the definition: Non-paid promotional communication presented by the media rather than by the business.

Select the term that best matches the definition: Money, tools, equipment and buildings used to produce goods and services.

Select the term that best matches the definition: Things we would like to have but do not need for survival.

Select the term that best matches the definition: Intermediaries between manufacturers and retailers.

Select the term that best matches the definition: Items sold to other countries.

Select the term that best matches the definition: A situation where a country can produce a good or service at a lower cost than other countries.

Select the term that best matches the definition: Completely prohibiting the import or export of a product.

Select the term that best matches the definition: A specific group of consumers who have similar wants and needs.

Select the term that best matches the definition: A business that grows products or takes raw materials from nature.

Select the term that best matches the definition: Quantity consumers are willing to buy.

Select the term that best matches the definition: Recurrent periods during which the nation’s economy moves in and out of recession and recovery phases.

Select the term that best matches the definition: Occurs when a country buys more than it sells.

Select the term that best matches the definition: A business with an unlimited number of shareholders.

Select the term that best matches the definition: The total value of all final goods and services produced in a country in one year.

Select the term that best matches the definition: A tax that a government places on certain imported products.

Select the term that best matches the definition: Economy in which the resources are owned and controlled by the government.

Select the term that best matches the definition: Economy in which the resources are owned and controlled by the people of the country.

Select the term that best matches the definition: Right to use a company name or business process in a specific way.

Identify the letter of the choice that best completes the statement or answers the question: Which of the following is NOT every citizen’s economic responsibility?

Identify the letter of the choice that best completes the statement or answers the question: The United States government forbids the sale of certain items to other countries with a(n)

Identify the letter of the choice that best completes the statement or answers the question: Which pricing strategy sets a low price in order to gain market share?

Identify the letter of the choice that best completes the statement or answers the question: General Motors & Dell Computers assemble and build products. What type of business are they?

Identify the letter of the choice that best completes the statement or answers the question: Which of the following is NOT one of the 7 marketing functions?

Identify the letter of the choice that best completes the statement or answers the question: If demand for a product increases, but supply stays the same, what typically happens to the price?

Identify the letter of the choice that best completes the statement or answers the question: Which of the 4 Ps is used to inform, persuade, or remind customers to buy a product?

Identify the letter of the choice that best completes the statement or answers the question: Which of the following is NOT a commonly used method to carry out marketing research?

Which one of these is NOT a phase of the business cycle?

Which of the following is NOT one of the 4 Ps?

What does B2C stand for?

Which of the following is NOT a need?

A ____ is a business owned by two people who have a written agreement to share profits.

The value of a currency in one country compared with the value in another is

The primary reason why business owners make investments and take risks in a free enterprise system is to

Which market segmentation focuses on the age, gender, income, family composition and size, occupation, and education of their customers?

The first step in the decision making process involves

Which type of promotion tries to favorably influence public opinion via an on-going program of non-paid and paid communications?

Marketing is used to

People who work to produce goods and services

Which type of research study presents two carefully controlled alternatives in order to determine which are preferred or have better results? Example) Coke vs. Pepsi

Which of the 7 marketing functions can communicate directly with potential customers face-to-face to satisfy their wants and needs?

Where would you typically find a trade free zone?

Which type of research method gathers information from people using a carefully planned set of questions?

Indicate whether the sentence or statement is true or false: Inflation is the value of a currency in one country compared with the value in another.

Indicate whether the sentence or statement is true or false: A hairdresser is an example of a B2C service.

Indicate whether the sentence or statement is true or false: An emotional buying motive is guided by facts and logic.

Indicate whether the sentence or statement is true or false: A group of people elected by shareholders to guide a corporation are called board of directors.

Indicate whether the sentence or statement is true or false: Needs are things that add comfort and pleasure to your life.

Indicate whether the sentence or statement is true or false: The parent company that grants permission to a person to sell its products or services is called a franchise.

Indicate whether the sentence or statement is true or false: Profit is equal to a company’s sales revenues.

Indicate whether the sentence or statement is true or false: A business that grows products or takes raw materials from nature is called an extractor.

Indicate whether the sentence or statement is true or false: Most new products are slight modifications to existing products.

Indicate whether the sentence or statement is true or false: Personal selling is the most expensive type of promotion.

Indicate whether the sentence or statement is true or false: A phase of the business cycle when goods are being produced in record numbers is called depression.

Indicate whether the sentence or statement is true or false: U.S., Canada, and Mexico are member countries of NAFTA.

Indicate whether the sentence or statement is true or false: Without foreign trade, many things you buy would cost more or not be available at all.

Indicate whether the sentence or statement is true or false: An entrepreneur is someone who takes a risk in starting a business to earn a profit.

Indicate whether the sentence or statement is true or false: The rivalry among businesses in selling to buyers is called competition.

Indicate whether the sentence or statement is true or false: The 4 Ps are also known as the promotional mix.