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NEW Fashion 3.02
Test Description: 3.02
Instructions: Answer all questions to get your test result.
1) Customer services, business location, and qualifications of salespeople are elements of which type of competition?
A
Direct
B
indirect
C
nonprice
D
price
2) Brenda purchases new Louis Vuitton luggage to take on her trip to Europe. Brenda is the
A
Consumer
B
retailer
C
wholesaler
D
middleman
3) During which stage of the business cycle are consumers most willing to purchase fashion products?
A
recovery
B
Depression
C
recession
D
prosperity
4) When purchasing a new suit, Ed had the tailor alter the sleeve length on the jacket. This alteration is an example of which type of utility?
A
time
B
form
C
scarcity
D
place
5) Macy’s hires decorators to create window displays during the Christmas season. The decorators provide which type of service?
A
Convenience
B
shopping
C
industrial
D
specialty
6) Denise cuts Alisha’s hair and gives her a new style for the holidays. Denise is providing a:
A
specialty good
B
industrial service
C
convenience good
D
Consumer service.
7) The blue jean industry is dominated by a few large producers. This is an example of which form of competition?
A
oligopoly
B
pure
C
retail
D
monopoly
8) Which stage of the business cycle is characterized by rising unemployment and economic slowdown?
A
prosperity
B
Depression
C
recovery
D
recession
9) When demand decreases, price usually:
A
remains the same
B
fluctuates
C
Decreases.
D
increases
10) When a product is in high demand, price usually:
A
remains the same
B
decreases
C
increases
D
fluctuates
11) When the price of a product or service increases, demand will usually:
A
remains the same
B
Be average.
C
decreases
D
increases
12) Belk orders additional after-five apparel to be sold during the spring months when most high schools are having proms. This is an example of which type of utility?
A
time
B
Form
C
possession
D
information
13) Quality products and business reputation are characteristics of which type of competition?
A
Direct
B
price
C
nonprice
D
indirect
14) Which is a service?
A
Jogging shoes
B
manicure
C
pocketbook
D
mascara
15) Amy purchases a cashmere sweater to give to her mother for Christmas. Amy is the:
A
Consumer.
B
wholesaler
C
customer
D
producer
16) Ocean Threads, a Hatteras Island clothing store, stocks many styles of swimsuits all year long. This is an example of which type of utility?
A
possession
B
Form
C
information
D
place
17) Which stage of the business cycle is characterized by extremely low consumer spending and virtually no spending on fashion products?
A
recession
B
Depression
C
prosperity
D
recovery
18) The t-shirt industry is characterized by many buyers and sellers, and no single buyer or seller controls prices. This is an example of which type of competition?
A
monopoly
B
Indirect
C
nonprice
D
pure
19) During which stage of the business cycle do worker layoffs begin to occur and retail sales begin to decrease?
A
prosperity
B
Depression
C
recession
D
recovery
20) Kmart and The Gap are engaged in:
A
Direct competition.
B
monopolistic competition
C
indirect competition
D
pure competition
*select an answer for all questions
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