Fashion Marketing Ch. 3

Test Description: Basic Economic Activities

Instructions: Answer all questions to get your test result.

1) The companies that make the goods are the ______________.

2) The economic rivalry between two or more businesses to gain as much of the total market is known as ___________.

3) the quantities of goods or services that producers are willing and able to provide at a particular time at various prices is _______________.

4) The way people live, based on the kinds and quality of goods and services they can afford is ____________.

5) When pure competition does not exist and only a few large rival firms offer a product.

6) Product, Place, Price and Promotion is known as the _______________.

7) The process through which products are obtained and promoted to the point of sale is ____________.

8) Any non-personal activity that furthers the sales of goods or services to a large audience, rather than one-on-one.

9) Which is NOT an advantage to a sole proprietorship

10) Which is NOT a disadvantage of a corporation?


*select an answer for all questions

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