Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
SEM II 3.03 Study Guide
Test Description: Study Guide for review SEM II 3.03 Study guide
Instructions: Answer all questions to get your test result.
1) Determine the breakeven point in units using the total fixed cost, $4,000; variable cost per unit, $20; and selling price per unit, $100.
A
500 units
B
50 units
C
80 units
D
100 units
2) If a goal is to avoid storing or discarding merchandise, what pricing strategy should be selected?
A
Cost plus markup
B
Competitive
C
Versioning
D
Close out
3) Why do sportswear stores calculate breakeven in units?
A
To determine how many products they must sell to breakeven
B
To identify which costs are variable and which are fixed
C
To find out how much profit they will earn after they breakeven
D
To identify which products they should purchase for resale
4) A sporting event setting ticket prices based on the ability of potential customers to pay is an example of what pricing strategy?
A
Objective
B
Motive
C
Restriction
D
Promotion
5) An increase in ticket prices is most accepted by fans if a sport has which demand for tickets?
A
Elastic
B
Inelastic
C
Low
D
Unitary
6) What do sales beyond the breakeven point provide to a business?
A
Variable-cost margin
B
Dividends
C
Profit
D
Initial markup
7) Why would an event marketer promote an upcoming celebrity golf tournament at an exclusive course as an once-in-a-lifetime event?
A
To obtain more industry support
B
To have expensive media coverage
C
To increase advertising costs
D
To generate higher ticket prices
8) A business purchased a line of items for resale that cost $9.32 each. Expenses total $1.65 per item. What is the breakeven price per item?
A
$11.71
B
$11.92
C
$11.26
D
$10.97
9) A business decided to produce 6,000 football cushions and sell them for $6 each. They cost the company $4 each to produce. How many cushions must the company sell to break even?
A
6,000
B
3,000
C
600
D
4,000
10) When a hockey team set its ticket prices so it can achieve its goal of increasing its fan base by five percent, the hockey team established a price objective in conjunction with which type of activity?
A
Sales
B
Contingency
C
Cost
D
Licensing
11) If the selling price of a product is $430 per unit, and the number of units required to reach the breakeven point is 2,100, what is the total dollar sales the business needs to break even?
A
$850,000
B
$890,000
C
$903,000
D
$985,000
12) The variable cost for a product is $3, and the total fixed costs are $288,000. The company sells the products for $6 each. How many products will the company have to sell to break even?
A
4,800
B
96,000
C
48,000
D
32,000
13) When setting ticket prices for professional baseball games, the organization considers the performance of the team. Which factor is considered?
A
Operational
B
Ethical
C
Developmental
D
Situational
14) A professional football team that increased ticket prices for next season because the team is on a winning streak selected a pricing strategy based on which situation?
A
What the market will bear
B
Previous winning potential
C
Number of games played
D
Location of the target market
15) A college athletic department set the football ticket prices so that the organization can earn income of $12 per ticket after covering expenses. This is an example of a price objective based on which component?
A
Demand
B
Volume
C
Competition
D
Profitability
16) A soccer camp provided five leaders at $8 per hour for eight hours a day for five days. If benefits are 20% of the wages and supplies total $650, calculate the cost per person if 40 players attend.
A
$64.25
B
$48.00
C
$32.25
D
$56.25
17) Which is the least important factor when selecting a pricing strategy?
A
Promotional strategy
B
Competitor price
C
Location of store
D
Cost of merchandise
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?