Marketing Mid Term True/False

Pure competition is the most common type of competition businesses face.

Ethical behavior involves all employees, not just a company’s executives and managers.

There are some products that customers just won't buy.

The government plays an active role in business practices.

Advantage for producer in monopoly is they have unique products so they have control over price

In mixed economy, goods and services are provided by the government and by private enterprise.

Numerical data are easier to organize than non-numerical data

Test markets help companies predict outcomes for an entire region.

Good leaders understand that they cannot treat all employees alike.

Most businesses no longer believe that all consumers are alike and all want the same thing.

Scarcity is the key word in the study of economics.

By far, the most common type of economic competition facing most businesses is oligopoly.

Limited Competition involves many businesses offering similar products.

Marketing has always been viewed as an important part of business.

There is no difference between policies and procedures.

Spending money to improve marketing usually results in increased profits for the company.

A money system was developed to assist with the exchange process.

Economic utility supports the marketing concept.

Marketing research is an exact science, and has a specific way every business does this.

The United States has a pure capitalistic economic system.

Social responsibility refers to duty of a business to contribute to well-being of a community.

Demand has no effect on supply.

To make surveys shorter, questions should incorporate several concepts that need to be tested.

Consumers have negative opinion about a part of business, it affects if they will be customers