Fashion 4.0

Test Description: Fashion 4.0

Instructions: Answer all questions to get your test result.

1) When the price of a product or service increases, demand will usually:

2) Trey buys his wife a new purse for Mother’s Day. She immediately begins to use it on a daily basis. In this example, what is the wife’s role?

3) A markup equal to the cost of the merchandise is:

4) Belk provided a coupon in the newspaper for 15% off twin bed sheets regularly priced $48.50. Excluding tax, what would a customer pay if they used the coupon?

5) What is a basis for psychographic segmentation?

6) Most department and fashion specialty stores calculate markup percent based on:

7) An amount added to the cost of goods to reach a selling price is a/an:

8) Jason purchased a sweater from a local men’s apparel retailer. The price he paid was the:

9) Sweaters originally priced to sell for $92.79 are marked down 75%. What is the sale price?

10) There is only one department store in a small, rural town in North Carolina without any competitors. The store dominates the industry in that area. This describes which competitive market structure?


*select an answer for all questions

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