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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
price
B
indirect
C
Direct
D
nonprice
2) Brenda purchases new Louis Vuitton luggage to take on her trip to Europe. Brenda is the
A
Consumer
B
middleman
C
retailer
D
wholesaler
3) During which stage of the business cycle are consumers most willing to purchase fashion products?
A
recovery
B
recession
C
Depression
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
scarcity
C
place
D
form
5) Macy’s hires decorators to create window displays during the Christmas season. The decorators provide which type of service?
A
industrial
B
shopping
C
Convenience
D
specialty
6) Denise cuts Alisha’s hair and gives her a new style for the holidays. Denise is providing a:
A
industrial service
B
specialty good
C
Consumer service.
D
convenience good
7) The blue jean industry is dominated by a few large producers. This is an example of which form of competition?
A
monopoly
B
pure
C
retail
D
oligopoly
8) Which stage of the business cycle is characterized by rising unemployment and economic slowdown?
A
Depression
B
recession
C
prosperity
D
recovery
9) When demand decreases, price usually:
A
remains the same
B
Decreases.
C
increases
D
fluctuates
10) When a product is in high demand, price usually:
A
increases
B
decreases
C
remains the same
D
fluctuates
11) When the price of a product or service increases, demand will usually:
A
remains the same
B
increases
C
Be average.
D
decreases
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
possession
B
information
C
Form
D
time
13) Quality products and business reputation are characteristics of which type of competition?
A
Direct
B
nonprice
C
indirect
D
price
14) Which is a service?
A
pocketbook
B
manicure
C
Jogging shoes
D
mascara
15) Amy purchases a cashmere sweater to give to her mother for Christmas. Amy is the:
A
wholesaler
B
producer
C
Consumer.
D
customer
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
place
C
information
D
Form
17) Which stage of the business cycle is characterized by extremely low consumer spending and virtually no spending on fashion products?
A
recovery
B
recession
C
prosperity
D
Depression
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
Indirect
B
nonprice
C
pure
D
monopoly
19) During which stage of the business cycle do worker layoffs begin to occur and retail sales begin to decrease?
A
recession
B
prosperity
C
recovery
D
Depression
20) Kmart and The Gap are engaged in:
A
indirect competition
B
Direct competition.
C
monopolistic competition
D
pure competition
*select an answer for all questions
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