20 MCQ's

1. The curve that shows the relationship between different prices and the quantity requested at each price is the ________ curve.
A. demand
B. buying
C. supply
D. equilibrium

2. The method of determining the minimum sales volume needed at a certain price level to cover all costs is
A. breakeven analysis.
B. equilibrium pricing.
C. market share analysis.
D. return on sales.

3. Student A says that if you're going to prepare alternative course of action, you need to do strategic planning. Student B says that if you're going to prepare alternative courses of action, you need to do contingency planning. Which student is correct? A. Student
A. only
B. Student B only
C. Both
D. Neither

4. Price auctions on eBay are an example of
A. e-business.
B. communication.
C. entertainment.
D. information.

1. The salesperson's task of identifying potential customers is known as
A. prospecting.
B. selection.
C. follow-up.
D. demonstration.

2. Ida works on creating ways to ensure that customers receive goods at the right time and correct location. Ida is involved in her firm's ________ strategy.
A. transportation
B. promotion
C. product
D. pricing

3. If you want to turn self-directed gain into social and economic benefits for all, you should use a/an _______ strategy.
A. charitable aid society
B. invisible hand
C. government
D. visible hand

4. Television is an attractive advertising medium because it
A. is relatively inexpensive.
B. offers a rapidly growing network audience.
C. provides instant feedback which can be used to measure effectiveness.
D. offers mass coverage and flexibility.

1. Which of the following was not an innovation that came about due to militarization in the 1800s?
A. Margarine
B. Canned food and milk
C. Larger farms
D. Factory production of bread

2. A primary cause for the development of time standards for the entire globe was
A. a desire for uniformity.
B. European imperial domination.
C. the telegraph.
D. the railroads.

3. The Crimean War was fought by
A. the Ottomans against Russia and Britain.
B. France and Russia against the Ottomans.
C. Britain against the Ottomans and the French.
D. Russia against the Ottomans, British, and French.

4. Quinine was essential for the expansion of imperial powers because of its
A. usefulness in fighting malaria.
B. role as a military weapon.
C. value for flavoring and preserving food.
D. value as a base for cosmetics.

1. If you seek to determine the value of one nation's currency relative to the currencies of other countries, you should isolate the nation's
A. governmental surplus.
B. international current module.
C. exchange rate.
D. counter trading activity.

2. What prompted Congress to enact the Sarbanes-Oxley Act in 2002?
A. Stockholders petitioned for increased access to financial records.
B. A series of improper financial disclosures were found during investigations.
C. Major companies requested government regulation following negative publicity.
D. Congress wanted to make accounting practices more efficient.

3. Student A says that if you're going to prepare alternative course of action, you need to do strategic planning. Student B says that if you're going to prepare alternative courses of action, you need to do contingency planning. Which student is correct?
A. Student A only
B. Student B only
C. Both
D. Neither

4. Sole proprietorships have all of the following advantages except
A. unlimited life.
B. ease of liquidation.
C. profits subject only to a single tax.
D. ease of formation.

1. One way for a country to obtain an absolute advantage in marketing a product outside its borders is to .
A. revalue the currency.
B. produce the good at the lowest cost.
C. adopt many trade restrictions.
D. enter into an orderly marketing agreement.

2. In which stage of the product life cycle are profits at their highest?
A. Maturity stage
B. Decline stage
C. Introductory stage
D. Growth stage

3. Joe is developing the marketing mix for his company's new line of power tools. A brand name, price, and distribution system have been decided. Now Joe is concentrating his efforts on developing the best advertising plan for the product line. The advertising plan is part of Joe's ________ strategy.
A. pricing
B. production
C. product End of exam
D. promotional

4. The Fair Labor Standards Act
A. established the federal minimum wage.
B. legalized collective bargaining.
C. outlawed secondary boycotts.
D. outlawed union shops.