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Economics in Marketing & SWOT Flashcards | StudBud
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Economics in Marketing & SWOT
Economics in Marketing & SWOT
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Economics in Marketing and SWOT Analysis
Flashcards
24 cards
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Questions
24
Answers
1
Demand for 55" Smart LED TV's, the minimum wage has increased. Demand will
not be affected
Stays the same
Increase
Decrease
2
The Coca Cola Company has many strengths. Which one is
NOT
a strength?
Competing with Pepsi
Brand Awareness
Largest Market Share
Customer Loyalty
3
Coca-Cola has many opportunities. Which one is
NOT
an opportunity?
Expand to developing nations
Market the lesser selling products
Produce drinking water
Customer Loyalty
4
SWOT stands for
Strengths, Weaknesses, Objectives, & Threats
Strengths, Weaknesses, Opportunities, Tasks
Strengths, Weaknesses, Opportunities & Threats
Situations, Weaknesses, Opportunities, & Threats
5
The supply of Ray-Ban sunglasses. Lens costs decrease. Supply will
Increase
Is not affected
Stays the same
Decrease
6
The three (3) C's involved in the internal factors of a SWOT Analysis are
Character, Customers, Competition
Company, Customers, Collections
Company, Credit, Competition
Company, Customers, Competition
7
If cream cheese is on sale, the demand for bagels will increase. What determinant is affected?
Complementary goods
Tastes/Preferences
Population
Substitutes
8
If there are more bike shops in Rochester, this affects which determinant?
Inputs
Taxes
Technology
# of Firms
9
Super-size items are gone, healthier eating is where it's at! What determinant is affected?
Tastes/Preferences
Complementary Goods
Income
Substitutes
10
When graphing supply & demand, what is the bottom axis labeled?
Surplus
Qty.
Price
Shortage
11
The computers at H&R Block are an example of
Nautural
Entrepreneurship
Capital
Human
12
Why do companies complete a SWOT?
To find out where they should sell their products
To add value to a company's products & services
Because their boss tells to them to do one
To add more responsibility to a company's agenda
13
The point at which qty. supplied = qty. demanded is called
Surplus
Balance
Equilibrium
Shortage
14
500 more people in Greece and an increase phones. Which determinant is affected?
Complementary Goods
Population
Substitutes
Income
15
The amount above equilibrium is called
Surplus
Shortage
16
Pizza ovens at Carbone's Pizza would be an example of which economic resource?
Capital
Natural
Human
Entrepreneurship
17
Price and quantity for
supply
move in which direction?
the opposite
the same
18
The Law of Demand states: As the price of an item goes up, quantity demanded goes ?
Up
Stays the same
Down
19
A complementary good of sneakers is
socks
Adidias
Nike
shorts
20
Demand for diapers, there is an an increase in babies born. This affects
Substitutes
Complementary goods
Population
Income
21
Apple's newest iPhones are the XR, XS, & XS Max, this affects which determinant?
Taxes
Inputs
Technology
# of Firms
22
External factors in a SWOT are all but
Resources
Political & Economic
Technology
Socio-Cultural
23
The amount below equilibrium is called
Shortage
Surplus
24
You heard many presentations on entrepreneurs, which one isn't a true entrepreneur?
Michael Jordan
Steve Jobs
Walt Disney
Bill Gates
