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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
unit pricing
B
price fixing
C
price discrimination
D
punishing retailers
2) Popular products for sale at-cost or below-cost in order to increase store traffic.
A
skimming pricing
B
penetration pricing
C
price lining
D
loss-leader pricing
3) The key to price planning is:
A
cost and expense analysis
B
competition analysis
C
sales projections
D
consumer needs
4) Psychological pricing strategies include:
A
odd-even pricing
B
everyday low price
C
prestige pricing
D
all of the above
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
inelastic demand
B
supply and demand
C
none of the above
7) Helps consumers compare prices.
A
return on investment
B
cash discount
C
unit pricing
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
price discrimination
B
price fixing
C
monopoly
D
subjective price
10) If demand for a product goes up when the price goes down the product has:
A
supply and demand
B
elastic demand
C
all of the above
D
inelastic demand
*select an answer for all questions
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