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Marketing Chapter 5 & 6 Review Flashcards | StudBud
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Marketing Chapter 5 & 6 Review
Marketing Chapter 5 & 6 Review
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Marketing Essentials Chapter 5 & 6 Review
Flashcards
50 cards
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Practice quiz
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Questions
50
Answers
1
a business that sells its products only in its own country
competition
domestic business
industry
monopoly
2
Ethics are guidelines for good behavior
False
True
3
What is the term for the struggle between companies for customers
competition
promotion
surplus
profit
4
Which of these is not permitted in a market-oriented economic system?
Intellectual Property Rights
Compeitition
Monopoly
Business Ownership
5
Telecommuting
involves working at home, usually on a computer
companies effort to produce environmentally safe products
equal employment opportunity commission
environmental protection agency
6
Regulates the labeling and safety of food, drugs, & cosmetics sold throughout theUnited States
flextime
FTC
FDA
OSHA
7
exclusive control over a product or the means of producing it
monopoly
demand
retailers
business risk
8
struggle to attract customers, keep existing ones & take away customers from other companies
competition
nonprice competition
trademark
copyright
9
The price of a gallon of gas increases when oil _________ occur.
demand
surpluses
shortages
equilibrium
10
Businesses stress quality products, services, & financing when engaged in nonprice competition.
False
True
11
DECA, the Red Cross, and the Girl Scouts of America are considered ____________organizations.
price
profit
nonprofit
nonprice
12
obtain goods from manufacturers & resell them to industrial users, other resalers, & retailers
wholesalers
profit
retailers
finance
13
Responsible for overseeing the safety of products such as toys, electronics, & furniture.
CPSC
ethics
green marketing
telecommuting
14
when supply exceeds demand
shortage
derived demand
equilibrium
surplus
15
SEC
regulates the sale of securities
equal employment opportunity commission
regulates the labeling & safety of food, drugs, & cosmetics
responsible for fair and equitable treatment of employees
16
Pricing products really high when the need is great or when consumers don't have other choices
whistle blowing
price gouging
Better Business Buereau
EEOC
17
FTC
responsible for overseeing safety of products
regulates the labeling & safety of food, drugs, & cosmetics
guidelines for good behavior
responsible enforcing principles of free enterprise system
18
Businesses in the private sector produce the same product or group of products.
False
True
19
What is the purpose of a licensing agreement?
protects an originator from unauthorized copying of name
Businesses can operate in areas previously zoned residential
protects corporations from fraud
allows doctors to treat patients
20
business risk
is the amount of goods producers are willing to make & sell
the struggle to attract customers and keep existing ones
is the potential for loss or failure
achieving company goals by effective use of resources
21
EPA
Environmental Protection Agency
guidelines for good behavior
pricing products really high when the need is great
Equal Employment Opportunity Commission
22
System that encourages individuals to start & operate a business w/o government involvement
private sector
free enterprise system
accounting
nonprice competitiion
23
Which agency was established to protect consumers from unfair or deceptive business practices?
Federal Trade Commission
Occupational Safety and Health Administration
Environmental Protection Agency
Food and Drug Agency
24
Flextime
nonprofit org. helps produce public service ad campaigns
equal employment opportunity commission
guidelines for good behavior
allows workers to choose their work hours
25
What is the purpose of the Security and Exchange Commission?
regulate the sale of stocks and bonds
to monitor retail sales
to control the monetary supply
to provide loans to prevent businesses from failing
26
Competition forces businesses to produce poor-quality products at low prices.
False
True
27
supply
a business seeks to make a profit from its operations
obtain goods from manufacturers and resells them
is the amount of goods producers are willing to make & sell
a government-issued exclusive right to make, use or sell
28
What occurs when the potential for earning increases?
competition increases
taxes decrease
risk increases
the marketing expenditure decreases
29
the process of creating, expanding, manufacturing, or improving on goods and services
competition
monopoly
production
copyright
30
the discipline that keeps track of a company's financial situation
public sector
accounting
supply
finance
31
a government-issued exclusive right to make, use or sell and invention for up to 20 years.
patent
competition
trademark
copyright
32
Green Marketing
involves reporting an illegal action of one's employer
established in 1970 to protect human health & environment
company's effort to produce environmentally safe products
food and drug administration
33
the discipline that keeps track of a company's financial situation
for-profit
balance sheet
finance
accounting
34
price competition
competition based on factors that are not related to price
consumer willingness to buy a product
extremely high prices
the sale price of a product
35
retailers
exclusive control over a product or means of producing it
buy goods from wholesalers and selling to the consumer
buying from the manufacturer and selling to another business
government-issued exclusive right to sell goods
36
What agency would regulate chemicals that are improperly stored causing employees to become ill
Security Exchange Commission
Environmental Protection Agency
Occupational Safety and Health Administration
Federal Trade Commission
37
Ad council
food & drug administration
involves working at home, usually on a computer
equal employment opportunity commission
nonprofit org. helps produce public service ad campaigns
38
Whistle-blowing
involves reporting an illegal action of one's employer
occupational safety and health administration
companies effort to produce environmentally safe products
establishedin 1970 to protect human health & our environment
39
exclusive right to reproduce/sell work authored by an individual, ex: writings, music & artwork
copyright
trademark
monopoly
patent
40
Established in 1970 to protect human health and our environment
EPA
ethics
flextime
FCA
41
Responsible for fair & equitable treatment of employees in regard to hiring,firing,& promotions
EEOC
Better Business Bureau
FTC
price gouging
42
Better Business Bureau
Responsible for fair & equitable treatment of employees
nonprofit org. that sets up self-regulation among business
guidelines for good behavior for businesses
43
Which government agency monitors pollution from diesel engines?
Federal Emissions Commission
Environmental Protection Agency
Occupational Safety and Health Administration
Consumer Product Safety Commission
44
Sales and rebates are examples of what strategy?
price competition
competitive edge
roll backs
low fares
45
When the supply of a product exceeds the demand, businesses usually lower its price.
True
False
46
OSHA
allows workers to choose their work hours
Enforces principles of free enterprise system
guidelines for good behavior
sets guidelines for workplace safety and enforces them
47
What is the purpose of most businesses?
to produce products
to compete
to provide government services
to serves as a board of directors
48
U.S. govt. serves as regulator; protecting consumers, workers, investors, & the environment.
True
False
49
The FTC assists businesses in establishing trade relations with other countries.
False
True
50
derived demand
to control the monetary supply
organizational markets demand for consumer goods & services
consumers willingness and ability to buy a product
money-management function of a business
