Introduction to Marketing Concepts
What are the 4 Ps in Marketing?
a) Profit, Price, Product, Place
b) Product, Price, Promotion, Place
c) Purchase, Profit, Promotion, Place
d) Prescense, Price, Product, Place
b) Product, Price, Promotion, Place
the name for a tax on something you own, like land, your house, a motor home.
what is Property tax?
What drives the economy?
a) Goods and services
b) Wants and needs
c) Resources
d) Consumers
b) wants and needs
What is Medicaid?
Health care plan granted by states to low income individuals
Consumer demand is influenced by all of the following except:
A) economy.
B) weather.
C) promotion.
D) price.
B) weather
What is the amount added to the cost of merchandise to establish the selling price?
a) Interest
b) Sales Tax
c) Markup
d) Equity
c) Markup
The changing value of money over time is referred to as the
A) rate of return
B) rule of 72
C) time value of money
D) compounding value
C) time value of money
Which is NOT a factor of production?
a) Natural resources
b) Labor
c) Capital
d) The marketplace
What is the Equal Pay Act?
advocated for pay equality amongst genders
One of the fastest growing forms of online advertising is:
A) video advertising.
B) aerial advertising.
C) product placement advertising.
D) directory advertising.
A) video advertising
The cost of manufacturing whistles is 75 cents. The company charges $1.25 for a whistle. What is the gross profit the company earns if it sells 10 whistles?
a.$7.50
b.$12.50
c.$5.00
d $10.00
c. $5.00
Land and anything permanently affixed to the land is called
A) real estate
B) estate
C) human capital
D) working capital
A) real estate
Which term refers to basic skills you need to get a job, keep it and do well at it?
a) Employability skills
b) High school diploma
c) Work experience
d) Work-related skills
a) Employability skills
All of the following are signs and symptoms of shock except:
a. skin is cool, clammy, and pale
b. blood pressure is high
c. pulse is weak and rapid
d. breathing may be shallow and rapid
b) blood pressure is high
Changing consumers' perception about a brand is called:
A) branding.
B) positioning.
C) introducing.
D) repositioning.
D) repositioning
This shows a company's revenues, expenses and profitability over a period of time.
a) Income Statement
b) Cash Flow Statement
c) Balance Sheet
d) Trial Balance
a) Income Statement
Which of the following is not an example of financial fraud?
A) Embezzlement
B) Bribery
C) Stock market investment
D) Tax evasion
C) Stock market investment
What is opportunity cost?
a) The income people receive by taking risks
b) Giving up the chance to use a resource for one thing instead of another
c) The methods and labor used to produce a good
d) The income people have to purchase goods and services
b) giving up the chance to use a resource for one thing instead of another
What is an example of fixed costs in a medical practice?
a. salaries
b. cost of supplies
c. cost of utilities
d. depreciation of equipment
d) depreciation of equipment
A farmer sells his or her vegetables at a roadside stand to consumers. This is an example of
A) indirect retailing.
B) direct retailing.
C) multiple channels of distribution.
D) informal distribution.
B) direct retailing
Which is NOT considered an indicator of a higher standard of living?
a) Increasing availability of goods
b) Decreasing availability of goods
c) Increasing purchase of luxury goods
d) Increasing availability of services
c) increasing availability of services
a limited partnership of investors that sues high risk methods, such as investing with borrowed money, in the hopes of realizing large capital gains
What is a hedge fund?
Why was the EPA formed?
a) To enforce laws in society
b) To protect the environment
c) So that big businesses would be more truthful about finances
d) To help corporations with their accounting
b) to protect the environment
All of the following diseases are considered caused by blood-borne pathogens except:
A) HBV
B) HCV
C) Humoral Sepsis
D) HIV
C) Humoral Sepsis
What are three types of advertising?
institutional advertising, promotional advertising, transit advertising, broadcast media, etc.