Economics 101
Price V Non-Price Competition
Investigation Terminology
Investigation Terminology
New Zealand Potpourri
100
When a business competes with competitors by reducing prices through sales/discounts
What is price competition
100
True or False Price competition occurs when firms reduce prices to attract more customers
What is True
100
The number of units in a population to be studied
What is population size
100
Define: Generalizations
What are broad observations, trends, or relationships based on data
100
The Maori name for New Zealand is Aotearoa. What does this mean in English?
What is Land of the Long White Cloud
200
Businesses compete by repeatedly undercutting each other
What is price was
200
True or False Price wars can lead to firms leaving the industry due to a lack of profit
What is true
200
The set of individuals, items, or data from which a statistical sample is taken
What is sample size
200
Define: Conclusion
What is a deduction based on generalizations
200
Most people know the name of the harbour on which central Auckland is set - the Waitemata. What is the name of the harbour which Auckland International Airport was built beside?
What is Manukau
300
A business uses product variation and product differentiation to entice buyers to buy their product rather than using reduced prices
What is non-price competition
300
True or False When a business runs a "gift for purchase" promotion they are using a price competition marketing strategy
What is false
300
The consistency of an investigation's results over time and place
What is reliability
300
Define: Limitations
What are imposed restrictions that can not be exceeded or sidestepped (disadvantages or weaknesses)
300
The largest lake in New Zealand is actually the caldera of a volcano which exploded thousands of years ago. It is near the centre of geothermal power production in the country and, in fact, has hot springs rising under the lake near the shore! What is its name?
What is Taupo
400
True or False A monopoly is when one or more entities control the market
What is false
400
True or False Price competition is a more effective marketing strategy to use with youth markets
What is false
400
Information, often in the form of facts or figures, obtained through investigation
What is data
400
Define: Validity
What is the strength of conclusions, inferences, or propositions in investigations
400
What is the name of the stretch of water which separates the South Island from the North Island?
What is Cook Strait
500
An unfair preference for or dislike of something
What is a bias
500
In marketing what is a target audience
What is the group of people marketers are trying to persuade to purchase their goods or services
500
An unfair preference for or dislike of something
What is bias
500
An examination or inquiry into something, especially a detailed one that is undertaken officially (the act of undertaking an investigation)
What is an investigation
500
Wellington is the capital of the country. Parliament occupies pride of place in the city. What is the nickname of the unusually-shaped building beside Parliament where the Prime Minister and cabinet ministers have their offices?
What is the Beehive
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