NEW Fashion 3.02 Question Preview (ID: 21369)


3.02. TEACHERS: click here for quick copy question ID numbers.

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) Indirect
b) nonprice
c) monopoly
d) pure

Which stage of the business cycle is characterized by extremely low consumer spending and virtually no spending on fashion products?
a) Depression
b) prosperity
c) recession
d) recovery

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) Form
b) information
c) place
d) possession

Amy purchases a cashmere sweater to give to her mother for Christmas. Amy is the:
a) Consumer.
b) customer
c) producer
d) wholesaler

Which is a service?
a) Jogging shoes
b) manicure
c) mascara
d) pocketbook

Quality products and business reputation are characteristics of which type of competition?
a) Direct
b) indirect
c) nonprice
d) price

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) Form
b) information
c) possession
d) time

When the price of a product or service increases, demand will usually:
a) Be average.
b) decreases
c) increases
d) remains the same

When a product is in high demand, price usually:
a) decreases
b) fluctuates
c) increases
d) remains the same

When demand decreases, price usually:
a) Decreases.
b) fluctuates
c) increases
d) remains the same

Which stage of the business cycle is characterized by rising unemployment and economic slowdown?
a) Depression
b) prosperity
c) recession
d) recovery

The blue jean industry is dominated by a few large producers. This is an example of which form of competition?
a) monopoly
b) oligopoly
c) pure
d) retail

Denise cuts Alisha’s hair and gives her a new style for the holidays. Denise is providing a:
a) Consumer service.
b) convenience good
c) industrial service
d) specialty good

Macy’s hires decorators to create window displays during the Christmas season. The decorators provide which type of service?
a) Convenience
b) industrial
c) shopping
d) specialty

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) form
b) place
c) scarcity
d) time

During which stage of the business cycle are consumers most willing to purchase fashion products?
a) Depression
b) prosperity
c) recession
d) recovery

Brenda purchases new Louis Vuitton luggage to take on her trip to Europe. Brenda is the
a) Consumer
b) middleman
c) retailer
d) wholesaler

Customer services, business location, and qualifications of salespeople are elements of which type of competition?
a) Direct
b) indirect
c) nonprice
d) price

During which stage of the business cycle do worker layoffs begin to occur and retail sales begin to decrease?
a) Depression
b) prosperity
c) recession
d) recovery

Kmart and The Gap are engaged in:
a) Direct competition.
b) indirect competition
c) monopolistic competition
d) pure competition

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