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