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Marketing I Final Final S1 Review (D) Flashcards | StudBud
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Marketing I Final Final S1 Review (D)
Marketing I Final Final S1 Review (D)
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Marketing I final exam review/ diagnostic..
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
If consumers start to believe they need a product, what is likely to happen? (Select the best answer)
The supply decreases.
The price decreases.
The demand becomes more elastic.
The demand becomes less elastic.
2
Which of the following is an example of promotion?(Select the best answer)
An advertisement
An employee who works for your company
The price of a product
The quality of a product
3
Which of the following is earned income? (Select the best answer)
Money you received from a company you invested in.
A gift of money from a friend or family member.
Interest on money you lent a friend.
A paycheck you receive for work you have done.
4
The costs of running a business are called_____. (Select the best answer)
Cash flow
Operating expenses
Startup costs
Fixed costs
5
The marketing mix or Five P's stands for product, price, place, promotion and people?
True
False
6
Factors of Production include land, labor, capital and entrepreneurship? (Select the best answer)
False
True
7
What is the opportunity cost of an investment?(Select the best answer)
The combined values of the other opportunities available
The volatility of the investment
The value of the next most valuable opportunity
The marginal benefit of the inves
8
If your company increases market penetration or market share what is happening?(Select the best answer)
Competitors who offer similar products are entering the market.
More people in the target market are buying the company's product.
The market saturation of the target market has decreased.
The target market is growing.
9
A company's __tells you how much money a company has left over after subtracting all expenses? (Select the best answer)
Revenue
Cost of goods sold
Gross profit
Net profit
10
What type of trend is caused by changes in the characteristics of a population?(Select the best answer)
A lifestyle trend
A style trend
A competitive trend
A demographic trend
11
The law of diminishing returns is used to analyze the amount of which factor of production? (Select the best answer)
Capital
Land
Labor
Entrepreneurship
12
What is an increase in competition likely to do to the demand? (Select the best answer)
Make the demand less elastic.
Decrease the demand.
Make the demand more elastic.
Increase the demand.
13
How is a line of credit similar to a credit card?(Select the best answer)
Lenders don't check your credit score.
The interest rates are the same.
Interest is charged only on the amount you borrow.
They both require co-signers.
14
The letters in the term SWOT stand for strengths, weaknesses, opportunities and threats?(Select the best answer)
False
True
15
The four stages of the product life cycle include introduction, growth, maturity and decline?(Select the best answer)
False
True
16
Which of the following marketing messages are consumers most likely to trust?(Select the best answer)
An article about the company in a city newspaper
A television commercial
A phone conversation with an employee of the company
An internet advertisement
17
The term SWOT Analysis refers to analyzing your company and the competition.
True
False
18
What does your credit score tell lenders about you?(Select the best answer)
How well you can handle a loan and pay it back
How many jobs you have had
How much money you paid in taxes
Where you grew up
19
A good investment should do one or both of two things? (Select the best answer)
Decrease diversification or decrease interest earned
Grow in total value or produce income
Raise prices or increase demand
Avoid opportunity cost or increase volatility
20
Which of the following is an example of a conflict of interest?(Select the best answer)
A competitor interferes with another company's contract.
A manufacturing company hires many employees.
A worker has two jobs at unrelated companies.
A lawyer represents the plaintiff and the defendant.
21
Which of the following business ownership structures is the simplest and easiest to set up?(select the best answer)
A partnership
A limited liability company
An actual C Corporation or C Corp.
A sole proprietorship
22
Your company will need to create a business plan in order to do what? (Select the best answer)
Get funding from a bank
Pay taxes
Increase revenue
Identify an opportunity
23
Which of the following is an example of an advertisement?(Select the best answer)
A press release about the company
The company's newsletter
A billboard advertising a product
A news article about the company
24
What is a commodity?(Select the best answer)
Something of value that can be bought, sold or traded.
Something that producers are unable to sell to consumers.
An exchange between a producer and a consumer.
A resource that is available in unlimited quantities.
25
What type of relationship do a lawyer and a client have?(Select the best answer)
An administrative relationship
A labor relationship
A tort relationship
An agency or agent relationship
