Fashion Marketing Ch. 3 Question Preview (ID: 10370)


Basic Economic Activities. TEACHERS: click here for quick copy question ID numbers.

The companies that make the goods are the ______________.
a) Manufacturers
b) Retailers
c) Consumers
d) E-tailers

The economic rivalry between two or more businesses to gain as much of the total market is known as ___________.
a) Supply
b) Business
c) Competition
d) Marketing

the quantities of goods or services that producers are willing and able to provide at a particular time at various prices is _______________.
a) Production limit
b) Demand
c) Supply
d) Quota

The way people live, based on the kinds and quality of goods and services they can afford is ____________.
a) Lifestyle
b) Values
c) Socioeconomics
d) Standard of Living

When pure competition does not exist and only a few large rival firms offer a product.
a) Monopoly
b) Limited Competition
c) Market Structure
d) Oligopoly

Product, Place, Price and Promotion is known as the _______________.
a) Marketing Mix
b) Standards of Marketing
c) Marketing Basics
d) Target Marketing Concept

The process through which products are obtained and promoted to the point of sale is ____________.
a) Promotion
b) Marketing
c) Distribution
d) Merchandising

Any non-personal activity that furthers the sales of goods or services to a large audience, rather than one-on-one.
a) Marketing
b) Promotion
c) Personal Selling
d) Business to Business Selling

Which is NOT an advantage to a sole proprietorship
a) Easy to form
b) Control all profit
c) Unlimited life span
d) Secrecy of operations

Which is NOT a disadvantage of a corporation?
a) Heavy taxation
b) Hard to make big profits
c) Legal restrictions
d) Complex and expensive to form.

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