Marketing EOC Review 2016 - Part I

Question 1

The resources available to develop products and services is called factors of production.

Accepted Answer

True

Question 2

The reasons that people buy.

Accepted Answer

Buying Motives

Question 3

The reasons to buy based on facts or logic.

Accepted Answer

Rational Motives

Question 4

Occurs when supply exceeds demand.

Accepted Answer

Surplus

Question 5

An unfilled desire is known as needs.

Accepted Answer

False

Question 6

De-emphasizes price by developing a unique offering that meets an important customer need.

Accepted Answer

Non-price Competition

Question 7

The value of $$, or its equivalent, placed on a good or service; the actual $$ customers pay.

Accepted Answer

Price

Question 8

People who share similar needs and wants and are capable of buying products is called...

Accepted Answer

Market

Question 9

A co-curricular student organization for those interested in careers in Business.

Accepted Answer

DECA

Question 10

What is the activity of providing opportunities for the development of leadership abilities?

Accepted Answer

Leadership Development

Question 11

What does SCDC stand for?

Accepted Answer

State Career Development Conference

Question 12

Rivalry among businesses on the basis of price and value.

Accepted Answer

Price Competition

Question 13

The descriptive characteristics of a market such as age, gender, race, income, and edu. level.

Accepted Answer

Demographics

Question 14

An economic system where resources are owned by the govn't and the govn't answers economic ?'s

Accepted Answer

Both Command and Controlled Economy

Question 15

A period of prolonged recession.

Accepted Answer

Both of the above

Question 16

The ability to work well with others.

Accepted Answer

Teamwork

Question 17

Market situation in which a price decrease will decrease revenue.

Accepted Answer

Inelastic Demand

Question 18

Marketing mix element that refers to the location and methods used to make products available.

Accepted Answer

Place

Question 19

Amount of income left after paying taxes, available for saving and spending.

Accepted Answer

Disposable Income

Question 20

Who is the National Advisory Board?

Accepted Answer

Companies that partner with National DECA.

Question 21

Time when the economy flourishes.

Accepted Answer

Both

Question 22

The total value of goods and services produced within a country during the year.

Accepted Answer

Gross Domestic Product

Question 23

Also called factors of production, are all the things used in producing goods and services.

Accepted Answer

Resources

Question 24

Activities that occur outside traditional class time, but are directly related to instruction?

Accepted Answer

Co-curricular

Question 25

Having concern about the consequences of actions on others is...

Accepted Answer

Social Responsibility

Question 26

Limits on the #'s of specific types of products that foreign companies can sell in the country.

Accepted Answer

Quotas

Question 27

Exists when the amount of product supplied is equal to the amount of product demanded.

Accepted Answer

Equilibrium

Question 28

Offered to a market to satisfy needs and wants, including tangible goods or intangible services

Accepted Answer

Product

Question 29

A period of economic slowdown.

Accepted Answer

Recession

Question 30

The amount of goods producers are willing to make and sell.

Accepted Answer

Supply

Question 31

A way of analyzing a market by specific characteristics in order to create a target market.

Accepted Answer

Market Segmentation

Question 32

The change in the cost of a specified set of goods and services over time.

Accepted Answer

Consumer Price Index

Question 33

Anything you require to live to known as wants.

Accepted Answer

False

Question 34

The difference between the amount of a country's imports and exports.

Accepted Answer

Balance of trade

Question 35

Encompasses the notion of individuals and firms striving for a greater share of a market.

Accepted Answer

Competition

Question 36

Concern about the consequences of actions on others.

Accepted Answer

Social Responsibility

Question 37

An economic system where resources are owned by individuals&the marketplace answers economic ?s

Accepted Answer

Capitalism

Question 38

The percentage of the work force that is unemployed at any given date.

Accepted Answer

Unemployment Rate

Question 39

An organized effort to influence a company by refusing to purchase its products.

Accepted Answer

Boycott

Question 40

Focusing on satisfying customers' needs and wants in order to make a profit.

Accepted Answer

Marketing Concept

Question 41

Money needed to start and operate a business.

Accepted Answer

Capital

Question 42

A set of standards or rules that guide ethical behavior.

Accepted Answer

Code of Ethics

Question 43

The amount of income left after paying basic living expenses and taxes.

Accepted Answer

Discretionary Income

Question 44

Learning about the requirements for succeeding in various careers is...

Accepted Answer

Vocational Understanding

Question 45

The average output by workers for a specific period of time.

Accepted Answer

Productivity

Question 46

Directs a company's marketing mix at a large and heterogeneous group of consumers.

Accepted Answer

Mass Marketing

Question 47

Attribute of a product/service that makes it capable of satisfying consumers wants and needs.

Accepted Answer

Economic Utilities

Question 48

What is Social Intelligence?

Accepted Answer

Knowing how to conduct oneself in a variety of situations.

Question 49

The forces of love, affection, guilt, fear, or passion that compel consumers to buy.

Accepted Answer

Emotional Motives

Question 50

When prices increase faster than the value of the goods and services.

Accepted Answer

Inflation

Question 51

Moral principles based on honesty and fairness that guide the behavior individuals and groups

Accepted Answer

Ethics

Question 52

Groups of customers with very similar needs to whom the company can sell its products.

Accepted Answer

Target Markets

Question 53

Comprises four basic marketing strategies collectively known as the Four P's of marketing.

Accepted Answer

Marketing Mix

Question 54

A series of courses and activities that prepare students for careers in Marketing, Mgmt. etc.

Accepted Answer

Marketing Education Program

Question 55

People's interests and values.

Accepted Answer

Psychographics

Question 56

The way a nation makes economic choices about how the nation will use its resources.

Accepted Answer

Economy

Question 57

Creating and maintaining satisfying exchange relationships and consists of the four P's.

Accepted Answer

Marketing

Question 58

Market situation in which a price decrease will increase revenue.

Accepted Answer

Elastic Demand

Question 59

A govn't prohibition against the shipment of certain products to a particular country.

Accepted Answer

Embargo

Question 60

Land/natural are the natural resources of a nation.

Accepted Answer

True

Question 61

Federal agency responsible for overseeing the safety of consumer products.

Accepted Answer

Consumer Product Safety Commission

Question 62

Dividing consumers into markets based on where they live.

Accepted Answer

Geographic Segmentation

Question 63

Organized actions of consumers seeking to influence business practices.

Accepted Answer

Consumerism

Question 64

Any form of communication used to inform, persuade, or remind customers.

Accepted Answer

Promotion

Marketing EOC Review 2016 - Part I

Questions 76

Marketing EOC Review 2016 - Part I

Questions 76