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Pricing Concepts
Test Description: Review various pricing concepts.
Instructions: Answer all questions to get your test result.
1) The Robinson-Patman Act of 1975 outlawed:
A
price discrimination
B
punishing retailers
C
unit pricing
D
price fixing
2) Popular products for sale at-cost or below-cost in order to increase store traffic.
A
price lining
B
penetration pricing
C
loss-leader pricing
D
skimming pricing
3) The key to price planning is:
A
competition analysis
B
consumer needs
C
sales projections
D
cost and expense analysis
4) Psychological pricing strategies include:
A
odd-even pricing
B
everyday low price
C
all of the above
D
prestige pricing
5) Market share is the percentage of the whole market that belongs to a particular company.
A
false
B
true
6) Buying your favorite brand no matter the cost.
A
supply and demand
B
none of the above
C
inelastic demand
7) Helps consumers compare prices.
A
cash discount
B
unit pricing
C
return on investment
D
flexible pricing
8) It would be wise for me to memorize the formula for calculating break-even point.
A
True
B
False
9) Selling a product for one price to a customer and for a different price to another, similar customer is an example of:
A
subjective price
B
monopoly
C
price discrimination
D
price fixing
10) If demand for a product goes up when the price goes down the product has:
A
elastic demand
B
supply and demand
C
all of the above
D
inelastic demand
*select an answer for all questions
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