CH 14 Marketing Quiz

In a market with ________ there are many firms providing differentiated products. A) Pure Competition B) Oligopolistic Competition C) Monopolistic Competition D) A monopoly E) A duopoly

C) Monopolistic Competition

When the price for Blu-ray players dropped, the demand for DVD players went down, based on this, DVD Players and Blu-Ray Players are A) Complementary Products B) Outsourced Products C) Substitute Products D) Interchangeable Products E) Superior Products

C) Substitute Products

When members of the marketing channel collude to control the prices passed on to consumers, they are engaging in A) Loss-Leader Price Fixing B) Bait-and-Switch Price Fixing C) Horizontal Price Fixing D) Vertical Price Fixing E) Predatory Pricing

D) Vertical Price Fixing

Consumers generally believe that ______ is one of the most important factors in their purchase decisions A) Promotion B) Place C) Policy D) Perception E) Price

E) Price

A demand curve shows the relationship between _____ during a specific period of time. A) Income and Demand B) Price and Costs C) Price and Elasticity D) Profit and Price E) Price and Demand

E) Price and Demand

A demand curve shows the relationship between income and demand. True or False?

False

Dynamic Pricing is in place when retailers charge the same price for goods regardless of the selling season. True or False?

False

Monopolistic Competition Occurs when there are many firms competing for customers in a given market but their products are differentiated. True or False? False

False

When a firm has a particular profit goal as its overriding concern, it will use target return pricing to meet the profit objective. True or False?

False

Price is the cash expenditure plus taxes that consumers must pay for a good or service. True or False?

True