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Questions
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Answers
1
The amount of buyer demand that a single seller controls is...
demand
seller share
market equity
market share
2
Products that have real or imagined differences are...
illegal product
black market product
differentiated product
exclusive product
3
The market that gives buyers choices, decent quality and reasonable prices is...
pure competition
oligopoly
near monopoly
monopolistic competition
4
______ is defined as the desire for a product and the ability and willingness to pay for it.
market
partnership
business
corporation
5
The type of near monopoly in which only the government is allowed to produce the product...
government near monopoly
geographic near monopoly
natural near monopoly
federal near monopoly
6
Which market is most harmful to buyers because it is not subject to anti-trust laws?
monopolistic competition
oligopoly
technological near monopoly
natural near monopoly
7
Which of these is the most recently acknowledged target audience?
children
teenagers
athletes
seniors
8
Which market is allowed to exist because the gov't determines it is in our best interest ?
natural near monopoly
geographic near monop
monopolistic competition
oligopoly
9
The most important tool a monopolistic competitor has to maintain market share is...
gossip
rumor
advertising
force
10
Oreo cookies and milk are examples of ...
compatibles
opposites
substitutes
complements
11
Which is the most profitable target audience?
athletes
children
teenagers
seniors
12
The agency that is the "watchdog" over all natural near monopolies in SC...
SEC
AMA
SBA
PSC
13
When sellers (illegally) band together to control the market...
collision
strategic planning
collusion
monopoly
14
Which of the following markets exist only in theory?
imperfect competition
pure monopoly and pure competition
pure monopoly
pure competition
15
The type of near monopoly that is not subject to anti-trust laws is...
government near monopoly
technological near monopoly
geographic near monopoly
natural near monopoly
16
A market that rewards a person or company for entrepreneurship is called...
technological near monopolyl
technical near monopoly
near monopoly
government near monopoly
17
Which color is most often used to create a calm, peaceful mood?
black
red
green
blue
18
Which of these is an advertising strategy?
color
all of these
target audiences
product placement
19
Which emotion is typically created by red, yellow and orange?
calm
anger
anxiety
spirituality
20
Which of the following markets is one that buyers like best?
geographic near monopoly
monopolistic competition
near monopoly
oligopoly