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1)
_______ are the sum of the _______ and _______ for any given level of production.
- A) Fixed costs; variable; total costs
- B) Fixed costs; total; variable costs
- C) Variable costs; fixed; total costs
- D) Total costs; fixed; variable costs
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2)
Which of the following concepts is defined as the “responsiveness of the quantity demanded of a good or service to a change in its price”?
- A) Price elasticity
- B) Break-even pricing
- C) Demand curve
- D) Target cost
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3)
What are the tasks of the sales representative?
- A) Informing customers; information gathering; persuasion
- B) Installation and demonstration of products; project management; maintaining relationships
- C) Prospecting clients; relationship management; monitoring the competition
- D) All of the above
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4)
Multi-component video news release (VNR’s) is one of the tools of:
- A) Advertising
- B) Sales promotion
- C) Direct marketing
- D) Publicity
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5)
“Unwillingness to change thought patterns that we have used in the past in the face of new circumstances” is showing which of the following concepts?
- A) Conservatism and inertia
- B) Conservatism and inertia
- C) Selective perception
- D) Source Credibility bias
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6)
A good marketing strategy would be to promote the extensive use of market segmentation in the:
- A) Introduction
- B) Growth
- C) Maturity
- D) Decline
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7)
Pricing a product at 4.99 Rs rather than 5 Rs is an example of which of the following?
- A) Unit pricing
- B) Odd pricing
- C) Round down pricing
- D) One price policy
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8)
The opportunity to deduct 2 percent from the bill if payment is made within 10 days is a:
- A) Trade discounts
- B) Quality discounts
- C) Cash discount
- D) Off price discounts
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9)
If the firm's average total cost is equal to the price of the product at profit maximization then at what mode of operation the firm would be?
- A) Economic profit
- B) Normal profit
- C) Loss minimizing
- D) Shut down
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10)
If the price of product is between average total cost and average variable cost at profit maximization then at what mode of operation the firm would be?
- A) Economic profit
- B) Normal profit
- C) Loss minimizing
- D) Shut down
