Easy
What does a sales policy do for a company?
Ensures a positive shopping experience for customers
Six Flags Amusement Park wants to start offering more games in the game area that will attract more teenagers. While at the park, you are asked to complete a questionnaire about games you would like them to offer. This is an example of the _________________ marketing function.
Market Research
Match the characteristic to the appropriate business cycle. Very high unemployment
A. Recession B. Recovery C. Trough D. Expansion E. Depression
E. Depression
Economics is the study of how a nation uses its resources. The resources, or factors of production, in an economy include
Land, Labor, Capital and Entrepreneurship
One owner who makes all of the business decisions is an advantage of which type of business ownership: Proprietorship, Partnership, Corporation, Limited Liability Corporation.
Sole Proprietorship
Which of the following is not a reason that sales people must be trained in an organization?
They help reduce costs
You were just hired at Pet Smart to be a cashier. Your job includes running the cash register and assisting customers with their needs. This job is an example of the ___________ marketing function.
Selling
Match the characteristic to the appropriate business cycle. High consumer spending
A. Recession B. Recovery C. Trough D. Expansion E. Depression
D. Expansion
Supply is the quantity of goods and services that:
Producers are willing and able to manufacture
The partners may disagree and cause problems in the business, which is an disadvantage of which type of business ownership: Proprietorship, Partnership, Corporation, Limited Liability Corporation.
Partnership
What are the major components of a sales training program?
Effective sales Techniques & Product information
) The marketing function of ______________ is used when Mayfield Milk decides how many trucks to use to transport its products in a timely manner to reduce product spoilage.
Distribution
Match the characteristic to the appropriate business cycle. Indicates that a recovery is near.
A. Recession B. Recovery C. Trough D. Expansion E. Depression
C. Trough
Demand is the quantity of goods and services that:
Consumers are willing and able to purchase
Money is easily raised by shareholders although most decisions are made by the board of directors is an advantage of which type of business ownership: Proprietorship, Partnership, Corporation, Limited Liability Corporation.
Corporation
Obtaining the money needed to start and operate a business is a marketing function known as ____________________.
Financing
Annie has decided to mark up the cost of the newest bathing suit line she just ordered for her boutique by 50%. This is an example of the __________ marketing function.
Pricing
Match the characteristic to the appropriate business cycle. Period of economic slowdown that lasts for at least 6 months
A. Recession B. Recovery C. Trough D. Expansion E. Depression
A. Recession
In an economy, individuals, businesses and the government have a variety of choices on which to spend their money. Once the choice is made, the alternative choices given up are considered:
Trade Offs
Run like a partnership and a corporation to limited the responsibility of the partners is an advantage of which type of business ownership: Proprietorship, Partnership, Corporation, Limited Liability Corporation.
Limited Liability Corporation
When Apple decides to improve features of the IPOD by developing a newer, more up-to-date version, they have conducted the marketing function known as __________.
Product/Service Management
When Lois, a small business owner, decides to become a sponsor in his local community’s annual Cancer Walk in order to create publicity for his company, he is making decisions in relation to the _________ marketing function.
Promotion
Match the characteristic to the appropriate business cycle. Unemployed people begin to find jobs
A. Recession B. Recovery C. Trough D. Expansion E. Depression
B. Recovery
William decides to purchase a baseball bat for $50. The opportunity cost of the decision to purchase the bat is which of the following?
Another item William could have purchased for $50
The owner of the company has unlimited liability is an disadvantage of which type of business ownership: Proprietorship, Partnership, Corporation, Limited Liability Corporation.
Sole Proprietorship