1 - Given recent information about growth trends and growth potential of ethnic populations within the U.S market which of the following ethnic groups would be a best bet to double during the next half century and become one of the U.S market's most viable segments ?
1 - Given recent information about growth trends and growth potential of ethnic populations within the U.S market which of the following ethnic groups would be a best bet to double during the next half century and become one of the U.S market's most viable segments ?
Hispanics and Asians
2 - Catalog marketing is big business in the United States. The average house hold receives __________ catalogs per year?
2 - Catalog marketing is big business in the United States. The average house hold receives __________ catalogs per year?
50
3 - The fact that services cannot be stored for later use or sale is evidence of their ?
3 - The fact that services cannot be stored for later use or sale is evidence of their ?
perishability
4 - When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the company's objectives they are in which of the following new process development stages ?
4 - When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the company's objectives they are in which of the following new process development stages ?
Business analysis
5 - If a consumer describes a car as being the most economical car on the market than this descriptor is a?
5 - If a consumer describes a car as being the most economical car on the market than this descriptor is a?
belief
6 - __________ is a philosophy holding that a company's marketing should support the best long-run performance of the marketing system?
6 - __________ is a philosophy holding that a company's marketing should support the best long-run performance of the marketing system?
Enlightened marketing
7 - The primary reason that many companies work to become the low cost producers in their industry is because ?
7 - The primary reason that many companies work to become the low cost producers in their industry is because ?
they can set lower prices that that result in greater sales and profits
8 - All of the following are criticisms leveled against marketing by critics EXCEPT ?
8 - All of the following are criticisms leveled against marketing by critics EXCEPT ?
harming consumers through too many product choices
9 - A price reduction to buyers who buy in large volumes is called a(n) ?
9 - A price reduction to buyers who buy in large volumes is called a(n) ?
quantity discount
10 - A company's compensation plan should reflect its overall marketing strategy For example if the overall strategy is to grow rapidly and gain market share the compensation plan should reward ?
10 - A company's compensation plan should reflect its overall marketing strategy For example if the overall strategy is to grow rapidly and gain market share the compensation plan should reward ?
high sales performance and encourage capturing new accounts
11 - In a example discussed in your text Johnson & Johnson's recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?
11 - In a example discussed in your text Johnson & Johnson's recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?
The societal marketing concept
12 - All of the following are ways that marketing plays a key role in the company's strategic planning EXCETP ?
12 - All of the following are ways that marketing plays a key role in the company's strategic planning EXCETP ?
marketing is the only discipline that can provide a formal structure for the planning effort
13 - According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment?
13 - According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment?
technological
14 - A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?
14 - A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?
motive
15 - The purpose of strategic planning is to find ways in which the company can best ?
15 - The purpose of strategic planning is to find ways in which the company can best ?
use its strengths to take advantage of attractive opportunities in the environment
16 - Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family?
16 - Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family?
wife
17 - A _______ is a promotion strategy that calls for using the sales force and trade promotion to move the produce through channels ?
17 - A _______ is a promotion strategy that calls for using the sales force and trade promotion to move the produce through channels ?
push strategy
18 - According to the price/quality strategy matrix when a company overprices its product in relation to its quality it is considered to be using which type of strategy ?
18 - According to the price/quality strategy matrix when a company overprices its product in relation to its quality it is considered to be using which type of strategy ?
Overcharging strategy
19 - In evaluating messages for advertising telling how the product is better than the competing brands aims at making the ad ?
19 - In evaluating messages for advertising telling how the product is better than the competing brands aims at making the ad ?
distinctive
20 - According to Engel's law as income rises ?
20 - According to Engel's law as income rises ?
The percentage spent on other categories increase
21 - A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n) ?
21 - A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n) ?
distribution channel
22 - Rolls Royce uses which of the following distribution formats ?
22 - Rolls Royce uses which of the following distribution formats ?
Exclusive distribution
23 - If the field salesforce has been supplied with new leads (via the telephone) that have been qualified, they have probably been assisted by ?
23 - If the field salesforce has been supplied with new leads (via the telephone) that have been qualified, they have probably been assisted by ?
telemarketers
24 - The stage is the product life cycle that focuses on expanding market and creating product awareness and trails is the ?
24 - The stage is the product life cycle that focuses on expanding market and creating product awareness and trails is the ?
introduction stage
25 - 3M runs a Pollution a Prevention Pays program that has led to a substantial reduction in pollution and costs this would be an example of responding and costs. This would be an example of responding to which of the following ?
25 - 3M runs a Pollution a Prevention Pays program that has led to a substantial reduction in pollution and costs this would be an example of responding and costs. This would be an example of responding to which of the following ?
The green movement
26 - A __________ is a brand created and owned by a reseller of a product of service ?
26 - A __________ is a brand created and owned by a reseller of a product of service ?
private brand
27 - The fact that services are sold, produced and consumed at the same time refers to which of the following service characteristics ?
27 - The fact that services are sold, produced and consumed at the same time refers to which of the following service characteristics ?
Inseparability
28 - Many U.S firms have sought relief from foreign competition by demanding protectionism policies by the U.S government. A better way for companies to compete is to expand into foreign markets and ?
28 - Many U.S firms have sought relief from foreign competition by demanding protectionism policies by the U.S government. A better way for companies to compete is to expand into foreign markets and ?
continuously improve their products at home
29 - _________ is a principle of enlightened marketing that requires that a company seek real product and marketing improvements ?
29 - _________ is a principle of enlightened marketing that requires that a company seek real product and marketing improvements ?
Innovative marketing
30 - ________ are ads that appear while subscribers are surfing online services or Web sites, including banners, pop-up windows, tickers and roadblocks?
30 - ________ are ads that appear while subscribers are surfing online services or Web sites, including banners, pop-up windows, tickers and roadblocks?
Online ads
31 - When a company enters a new product category for which its current brand names are not appropriate it will likely follow which of the following brand strategies ?
31 - When a company enters a new product category for which its current brand names are not appropriate it will likely follow which of the following brand strategies ?
New brands
32 - Wal-Mart owned Sam's club is an example of a retail called a(n) ?
32 - Wal-Mart owned Sam's club is an example of a retail called a(n) ?
warehouse club
33 - Yahoo, Infoseek, and Baido are all called ?
33 - Yahoo, Infoseek, and Baido are all called ?
search engines
34 - Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?
34 - Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?
product
35 - Successful service companies focus their attention on both their customers and their employees they understand ________ which links service firm profits with employee and customer satisfaction ?
35 - Successful service companies focus their attention on both their customers and their employees they understand ________ which links service firm profits with employee and customer satisfaction ?
service-profit chains
36 - If a company's objective were to reach masses of buyers that were geographically dispersed at a low cost per exposure the company would like choose which of the following promotion forms ?
36 - If a company's objective were to reach masses of buyers that were geographically dispersed at a low cost per exposure the company would like choose which of the following promotion forms ?
Advertising
37 - A(n) _____ are computerized collections of information obtained from data sources within the company ?
37 - A(n) _____ are computerized collections of information obtained from data sources within the company ?
internal databases
38 - The orange juice manufacturers know that orange juice is most often consumed in the mornings. However they would like to change this and make the drink acceptable during other time periods during the day Which form of segmentation would they need to work with and establish strategy reflective of their desires ?
38 - The orange juice manufacturers know that orange juice is most often consumed in the mornings. However they would like to change this and make the drink acceptable during other time periods during the day Which form of segmentation would they need to work with and establish strategy reflective of their desires ?
occasion segmentation
39 - More and more salespeople are being evaluated and compensated based on different measures than in the past. All of the following are illustrations of those measures EXCEPT ?
39 - More and more salespeople are being evaluated and compensated based on different measures than in the past. All of the following are illustrations of those measures EXCEPT ?
competitive predatory pricing performance
40 - ___________ have contractual authority to sell a manufacturer's entire output?
40 - ___________ have contractual authority to sell a manufacturer's entire output?
Selling agents
41 - In terms of execution style a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising ?
41 - In terms of execution style a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising ?
Slice of life
42 - Concerns that the manufactures of harmful products such as tobacco have influence on lawmakers to the detriment of the public interest is used as evidence of which criticism of marketing ?
42 - Concerns that the manufactures of harmful products such as tobacco have influence on lawmakers to the detriment of the public interest is used as evidence of which criticism of marketing ?
Too much political power
43 - The __________ is a person within a reference group who because of special skills knowledge personality or other characteristics exerts influence on others ?
43 - The __________ is a person within a reference group who because of special skills knowledge personality or other characteristics exerts influence on others ?
opinion leader
44 - _________ are products bought by individuals and organizations for further processing or for use in conducting a business?
44 - _________ are products bought by individuals and organizations for further processing or for use in conducting a business?
Industrial products
45 - Pricing to cover variable costs and some fixed costs as in the case of some automobile distributorships that sell below total costs is typical of which of the following pricing objectives ?
45 - Pricing to cover variable costs and some fixed costs as in the case of some automobile distributorships that sell below total costs is typical of which of the following pricing objectives ?
Survival
46 - A _____ is a good offered either free or at low cost as an incentive to buy a product ?
46 - A _____ is a good offered either free or at low cost as an incentive to buy a product ?
premium
47 - That the company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way to serving customer needs is a major tenet of ?
47 - That the company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way to serving customer needs is a major tenet of ?
innovative marketing
48 - All of the following considered to be drawbacks of local marketing EXCEPT ?
48 - All of the following considered to be drawbacks of local marketing EXCEPT ?
it can attract unwanted competition
49 - Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. _____ includes practices such as falsely advertising factory of wholesale prices or a large price reduction from a phony high retail price ?
49 - Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. _____ includes practices such as falsely advertising factory of wholesale prices or a large price reduction from a phony high retail price ?
Deceptive pricing
50 - When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle ?
50 - When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle ?
Societal marketing
51 - The advantages of audience selectivity no ad competition and personalization apply to which type of media ?
51 - The advantages of audience selectivity no ad competition and personalization apply to which type of media ?
Direct Mail
52 - One of the most common problems with using internal database information is that ?
52 - One of the most common problems with using internal database information is that ?
since it was probably collected for some other purpose it may be incomplete or wrong
53 - Today advertising captures about ________ percent of total promotion spending?
53 - Today advertising captures about ________ percent of total promotion spending?
23
54 - Costs that do not vary with production or sales levels are called ?
54 - Costs that do not vary with production or sales levels are called ?
fixed costs
55 - The last stage in the selling process in the __________ stage?
55 - The last stage in the selling process in the __________ stage?
follow-up
56 - The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ?
56 - The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ?
Marketing implementation
57 - Technological advances, shifts in consumer tastes, and increased competition all of which reduce demand for a product are typical of which stage in the PLC ?
57 - Technological advances, shifts in consumer tastes, and increased competition all of which reduce demand for a product are typical of which stage in the PLC ?
decline stage
58 - Setting the promotion budget so as to match the budgets of the competition is characteristic of which of the following budget methods ?
58 - Setting the promotion budget so as to match the budgets of the competition is characteristic of which of the following budget methods ?
Competitive parity method
59 - When a marketing research organization chooses a segment of the population that represents the population as a whole, they have chosen a ?
59 - When a marketing research organization chooses a segment of the population that represents the population as a whole, they have chosen a ?
sample
60 - When Coca-Cota and Nestle formed joint venture to market a ready to drink coffee and tea worldwide the type of marketing system that was formed would best be described as being a(n)?
60 - When Coca-Cota and Nestle formed joint venture to market a ready to drink coffee and tea worldwide the type of marketing system that was formed would best be described as being a(n)?
horizontal marketing system
61 - A three day cooling off period in which buyers can cancel a contract after re-thinking it is to protect the consumer from ?
61 - A three day cooling off period in which buyers can cancel a contract after re-thinking it is to protect the consumer from ?
high pressure telling
62 - The major advantage of survey research is its ?
62 - The major advantage of survey research is its ?
flexibility
63 - The shrinking or distances due to technological advances such as computer and fax connections by telephone are one characteristic of what new challenge to marketing ?
63 - The shrinking or distances due to technological advances such as computer and fax connections by telephone are one characteristic of what new challenge to marketing ?
Rapid globalization
64 - When personal interviewing involves inviting six to ten people to gather for a few hours with a trained interviewers to talk about a product service, or organization the method is called ?
64 - When personal interviewing involves inviting six to ten people to gather for a few hours with a trained interviewers to talk about a product service, or organization the method is called ?
focus group interviewing
65 - A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything?
65 - A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything?
service
66 - A(n) ________ is a name term sign symbol or design, or a combination of these that identifies that maker or seller of a product or service ?
66 - A(n) ________ is a name term sign symbol or design, or a combination of these that identifies that maker or seller of a product or service ?
brand
67 - If your company were to make light bulbs to be used in photocopiers you would most likely be selling to a _________ market?
67 - If your company were to make light bulbs to be used in photocopiers you would most likely be selling to a _________ market?
business
68 - The Choice between high markups and high volume is part of which of the following retailer marketing decisions ?
68 - The Choice between high markups and high volume is part of which of the following retailer marketing decisions ?
Pricing decisions
69 - __________ is person's distinguishing psychological characteristics that lead to his or her own environment?
69 - __________ is person's distinguishing psychological characteristics that lead to his or her own environment?
Personality
70 - When producers, wholesalers, and retailers act as a unified system they comprise a ?
70 - When producers, wholesalers, and retailers act as a unified system they comprise a ?
vertical marketing system
71 - The most logical budget setting method is found in the list below. Which is it ?
71 - The most logical budget setting method is found in the list below. Which is it ?
Objective and task method
72 - The course of a product's sales and profits over its lifetime is called ?
72 - The course of a product's sales and profits over its lifetime is called ?
the product life cycle
73 - All of the following are methods by which a company can divide up its sales responsibilities EXCEPT ?
73 - All of the following are methods by which a company can divide up its sales responsibilities EXCEPT ?
pychographic trait sales force structure
74 - The American Marketing Association suggests a list of code of ethics All of the following are ethics suggested in the area of distribution EXCEPT ?
74 - The American Marketing Association suggests a list of code of ethics All of the following are ethics suggested in the area of distribution EXCEPT ?
using gray marketers whenever possible to save the consumer money
75 - A company faces several major decisions in international marketing the first of these decisions is often ?
75 - A company faces several major decisions in international marketing the first of these decisions is often ?
looking at the global marketing environment
76 - _______ is the concept under which a company carefully integrates and coordinates its may communications channels to deliver a clear consistent and compelling message about the organization and its products?
76 - _______ is the concept under which a company carefully integrates and coordinates its may communications channels to deliver a clear consistent and compelling message about the organization and its products?
Integrated marketing communications
77 - Which of the following is NOT one of the five stages of the buyers decision process?
77 - Which of the following is NOT one of the five stages of the buyers decision process?
brand identification
78 - ___________ is a strategy of using a successful brand name to launch a new of modified product in a new category ?
78 - ___________ is a strategy of using a successful brand name to launch a new of modified product in a new category ?
Brand extension
79 - All of the following are commonly recognized promotion budget formal EXCEPT ?
79 - All of the following are commonly recognized promotion budget formal EXCEPT ?
the LIFO method
80 - A company is practicing ________ if it focuses on subbasements with distinctive traits that may seek a special combination of benefits ?
80 - A company is practicing ________ if it focuses on subbasements with distinctive traits that may seek a special combination of benefits ?
niche marketing
81 - Conflicts between different levels of the same channel of distribution are referred to as ?
81 - Conflicts between different levels of the same channel of distribution are referred to as ?
vertical conflicts
82 - If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?
82 - If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?
Product concept
83 - R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?
83 - R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?
Product development
84 - Traditionally companies have defined their business in product terms or in technological terms however mission statements should be all of the following EXCEPT ?
84 - Traditionally companies have defined their business in product terms or in technological terms however mission statements should be all of the following EXCEPT ?
a statement of religion
85 - _______ is the step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call?
85 - _______ is the step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call?
Preapproach
86 - Which of the following is foreign owned (even through it is traditionally thought of as a U.S company) ?
86 - Which of the following is foreign owned (even through it is traditionally thought of as a U.S company) ?
Universal Studios
87 - The In suppliers are most likely to get nervous and feel pressure to put their best foot forward in which of the following types of buying situations ?
87 - The In suppliers are most likely to get nervous and feel pressure to put their best foot forward in which of the following types of buying situations ?
modified rebuy
88 - If a firm were to bid to do a turnkey operation where they would choose a building site designing a cement factory to build the plant hire construction crews assemble materials and equipment to run the new factory and turn over the finished factory ready to operate to the owners the firm would be using which of the following ?
88 - If a firm were to bid to do a turnkey operation where they would choose a building site designing a cement factory to build the plant hire construction crews assemble materials and equipment to run the new factory and turn over the finished factory ready to operate to the owners the firm would be using which of the following ?
Systems selling
89 - A(n) _____ is a retail store that carries a narrow product line with a deep assortment within that line ?
89 - A(n) _____ is a retail store that carries a narrow product line with a deep assortment within that line ?
specialty store
90 - Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called?
90 - Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called?
specialty products
91 - ________ is the practice of adopting policies and developing strategies that both sustain the environment and produce profits for the company ?
91 - ________ is the practice of adopting policies and developing strategies that both sustain the environment and produce profits for the company ?
Environmental sustainability
92 - When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n) ?
92 - When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n) ?
quota
93 - The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate ?
93 - The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate ?
unfair and deceptive acts or practices
94 - _______ beliefs values are open to some degree of change ?
94 - _______ beliefs values are open to some degree of change ?
Secondary
95 - Drop shippers perform which of the following functions ?
95 - Drop shippers perform which of the following functions ?
Assumes title and ships coal, lumber or heavy equipment to a buyer
96 - ________ is setting the price steps between various products in a product the based on cost difference between the products, customer evaluations of different features, and competitors prices ?
96 - ________ is setting the price steps between various products in a product the based on cost difference between the products, customer evaluations of different features, and competitors prices ?
Product line pricing
97 - Which of the following promotional budget methods wrongly views sales as the cause of promotion rather than as the result ?
97 - Which of the following promotional budget methods wrongly views sales as the cause of promotion rather than as the result ?
Percentage of Sales method
98 - When an international seller sells a plant equipment or technology to another country and agrees to take payment in the resulting products, it is called?
98 - When an international seller sells a plant equipment or technology to another country and agrees to take payment in the resulting products, it is called?
buy-back
99 - When Micheal Jordan and Tiger Woods use marketing to promote their careers and improve their impact and incomes they are using?
99 - When Micheal Jordan and Tiger Woods use marketing to promote their careers and improve their impact and incomes they are using?
person marketing
100 - _______ factors are the most popular bases for segmenting customer groups?
100 - _______ factors are the most popular bases for segmenting customer groups?
Demographic
101 - It is fact that there are 24 million left-handed people in the United States however most marketers do not attempt to appeal to or design products for this group because there is little in the way of census data about this is group Therefore, this groups fails in one of the requirements for effective segmentation Which of the following is most likely to apply in this case ?
101 - It is fact that there are 24 million left-handed people in the United States however most marketers do not attempt to appeal to or design products for this group because there is little in the way of census data about this is group Therefore, this groups fails in one of the requirements for effective segmentation Which of the following is most likely to apply in this case ?
measurable
102 - ________ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter?
102 - ________ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter?
Market targeting
103 - In terms of special product life cycles a ________ is a basic and distinctive mode expression?
103 - In terms of special product life cycles a ________ is a basic and distinctive mode expression?
style
104 - ________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics or behavior who might require separate products or marketing mixes?
104 - ________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics or behavior who might require separate products or marketing mixes?
Market segmentation
105 - _______ is the general term for a buying and selling process that is supported by electronic means?
105 - _______ is the general term for a buying and selling process that is supported by electronic means?
Electronic commerce
106 - successful ________ depends on how well a company blends its people organizational structure decision and reward systems, and company culture into a cohesive program that supports its strategies?
106 - successful ________ depends on how well a company blends its people organizational structure decision and reward systems, and company culture into a cohesive program that supports its strategies?
marketing implementation
107 - The type of sales presentation approach that requires good listening and problem-solving skills is the ?
107 - The type of sales presentation approach that requires good listening and problem-solving skills is the ?
need-satisfaction approach
108 - _______ is quoted as saying that everyone lives by selling something?
108 - _______ is quoted as saying that everyone lives by selling something?
Robert Louis Stevenson
109 - Using a successful brand name to introduce additional items in a given product category under the same brand same (such as new flavors, forms, colors, added ingredients or package seizes) is called a(n)?
109 - Using a successful brand name to introduce additional items in a given product category under the same brand same (such as new flavors, forms, colors, added ingredients or package seizes) is called a(n)?
line extension
110 - The use of price points for reference to different levels of quality for a company's related products is typical of which product mix pricing strategy ?
110 - The use of price points for reference to different levels of quality for a company's related products is typical of which product mix pricing strategy ?
Product line pricing
111 - The total number of item that the company carries within its product lines refers to the ________ of the product mix?
111 - The total number of item that the company carries within its product lines refers to the ________ of the product mix?
length
112 - The typical method of retail operation used by supermarkets and catalog showrooms is called ?
112 - The typical method of retail operation used by supermarkets and catalog showrooms is called ?
self-service retailing
113 - ______ includes practices such as overstating the product's features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?
113 - ______ includes practices such as overstating the product's features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?
Deceptive promotion
114 - Sellers that handle their own exports are engaged in ?
114 - Sellers that handle their own exports are engaged in ?
direct exporting
115 - A child in the United States is normally exposed to all of the following values EXCEPT ?
115 - A child in the United States is normally exposed to all of the following values EXCEPT ?
collectivism
116 - The internet evolved from a network created by ________ during the 1960s?
116 - The internet evolved from a network created by ________ during the 1960s?
the Defense Department
117 - _________ describes changes in an individual's behavior arising from experience?
117 - _________ describes changes in an individual's behavior arising from experience?
Learning
118 - All of the following would be ways to segment within the category of psychographic segmentation EXCEPT ?
118 - All of the following would be ways to segment within the category of psychographic segmentation EXCEPT ?
occupation
119 - In determining salesforce size, when a company groups accounts into different size classes and then determines the number of salespeople needed to call on them the desired number of times it is called the ?
119 - In determining salesforce size, when a company groups accounts into different size classes and then determines the number of salespeople needed to call on them the desired number of times it is called the ?
work-load appraoch
120 - Setting call objectives is done during which of the following stages of the selling process?
120 - Setting call objectives is done during which of the following stages of the selling process?
Preapproach
121 - The biggest of greatest amount of involvement in a foreign market comes through which of the following ?
121 - The biggest of greatest amount of involvement in a foreign market comes through which of the following ?
Direct investment
122 - Coginitive dissonance occurs in which stage of the buyer decision process model ?
122 - Coginitive dissonance occurs in which stage of the buyer decision process model ?
Postpurchase behaviour
123 - Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources ?
123 - Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources ?
Internal databases
124 - The Coase theorem states that ?
124 - The Coase theorem states that ?
under certain conditions, private parties can arrive at the efficient solution without government involvement
125 - The optimal level of provision of public goods is where society total willingness to pay per unit is equal to the ?
125 - The optimal level of provision of public goods is where society total willingness to pay per unit is equal to the ?
marginal cost of producing the good
126 - The whole class of goods that will be under produced or not produced at all in a completely unregulated market economy are referred to as ?
126 - The whole class of goods that will be under produced or not produced at all in a completely unregulated market economy are referred to as ?
public goods
127 - imperfect competition occurs ?
127 - imperfect competition occurs ?
When firms are not profit maximisers
128 - The statement everything affects everything else reflects the principle behind ?
128 - The statement everything affects everything else reflects the principle behind ?
general equilibrium analysis
129 - Externalities are a problem only if ?
129 - Externalities are a problem only if ?
decision makers do not take them into account
130 - A person will continue to pursue an activity up to the point where ?
130 - A person will continue to pursue an activity up to the point where ?
marginal benefit equals marginal private cost
131 - If some gain and some lose as the result of a proposed change and it can be demonstrated that the value of the gains would exceed the value of the losses then the change is said to be ?
131 - If some gain and some lose as the result of a proposed change and it can be demonstrated that the value of the gains would exceed the value of the losses then the change is said to be ?
potentially efficient
132 - Markets fail to produce an efficient allocation of resources, but government also fail because ?
132 - Markets fail to produce an efficient allocation of resources, but government also fail because ?
the measurement of social damages and benefits is difficult and imprecise
133 - The idea that when externalities are present private parties can arrive at the efficient solution without government intervention under certain circumstance is known as ?
133 - The idea that when externalities are present private parties can arrive at the efficient solution without government intervention under certain circumstance is known as ?
The coase theorem
134 - If a large number of individuals are affected by an external benefit, private bargaining will not work because of ?
134 - If a large number of individuals are affected by an external benefit, private bargaining will not work because of ?
the free-rider problem
135 - If one person's enjoyment of the benefits of a good does not interfere with another's consumption of it, the good is said to be ?
135 - If one person's enjoyment of the benefits of a good does not interfere with another's consumption of it, the good is said to be ?
non-rival in consumption
136 - An example of public good is ?
136 - An example of public good is ?
preservation of wetlands
137 - Private goods are ?
137 - Private goods are ?
rival in consumption and their benefits are excludable
138 - The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?
138 - The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?
all of the above
139 - The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?
139 - The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?
partial equilibrium analysis
140 - When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
140 - When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
less than the efficient level of output
141 - The total cost to society of producing an additional unit of a good or service is the ?
141 - The total cost to society of producing an additional unit of a good or service is the ?
marginal social cost
142 - If PX > MCX, society gains by ?
142 - If PX > MCX, society gains by ?
Producing more X
143 - Which of the following is not put forth as a criticism of advertising and brand names ?
143 - Which of the following is not put forth as a criticism of advertising and brand names ?
Advertising increase competition Which causes unnecessary bankruptcies and layoffs.
144 - Which of the following firms is most likely to spend a large percentage of their revenue on advertising ?
144 - Which of the following firms is most likely to spend a large percentage of their revenue on advertising ?
the producer of a highly differentiated consumer product
145 - The use of word "competition" in the name of the market structure called "monopolistic competition" refers to the fact that ?
145 - The use of word "competition" in the name of the market structure called "monopolistic competition" refers to the fact that ?
there are many sellers in a monopolistically competitive market and there is free entry and exit in the market just like a competitive market
146 - One source of inefficiency in monopolistic competition is that since price is above marginal cost, some units are not produced that buyers value in ?
146 - One source of inefficiency in monopolistic competition is that since price is above marginal cost, some units are not produced that buyers value in ?
excess of the cost of production and this causes a deadweight loss.
147 - Which of the following firms has the least incentive to advertise ?
147 - Which of the following firms has the least incentive to advertise ?
a wholesaler of crude oil
148 - In the short run, if the price is above average total cost in a monopolistically competitive market, the firm makes ?
148 - In the short run, if the price is above average total cost in a monopolistically competitive market, the firm makes ?
profits and firms enter the market
149 - Which of the following products is least likely to be sold in a monopolistically competitive market ?
149 - Which of the following products is least likely to be sold in a monopolistically competitive market ?
cotton
150 - Which of the following is not an argument put forth by economists in support of the use of advertising ?
150 - Which of the following is not an argument put forth by economists in support of the use of advertising ?
Advertising provides a creative outlet for artists and writers
151 - Defenders of the use of brand names argue that brand names ?
151 - Defenders of the use of brand names argue that brand names ?
all of these answers
152 - The use of the word "monopoly" in the name of the market structure called "monopolistic competition" refers to the fact that ?
152 - The use of the word "monopoly" in the name of the market structure called "monopolistic competition" refers to the fact that ?
a monopolistically competitive firms faces a downward-sloping demand curve for its differentiated product and so does a monopolist
153 - When firms enter a monopolistically competitive market and the business-stealing externality is larger than the product-variety externality then ?
153 - When firms enter a monopolistically competitive market and the business-stealing externality is larger than the product-variety externality then ?
there are too many firms in the market and market efficiency could be increased if firms exited the market
154 - Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce ?
154 - Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce ?
With excess capacity and charge a price above marginal cost
155 - Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals ?
155 - Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals ?
marginal revenue and then use the demand curve to determine the price consistent with this quantity
156 - Which of the following is true regarding the similarities and differences in monopolistic competition and monopoly ?
156 - Which of the following is true regarding the similarities and differences in monopolistic competition and monopoly ?
The monopolist makes economic profits in the long run while the monopolistic competitor makes zero economic profits in the long run
157 - Which of the following is not a characteristic of a monopolistically competitive market ?
157 - Which of the following is not a characteristic of a monopolistically competitive market ?
long run economic profits
158 - During the fiscal year 2009-10 gross fixed capital formation or domestic investment grew by ?
158 - During the fiscal year 2009-10 gross fixed capital formation or domestic investment grew by ?
0.103
159 - Industry is the second largest sector of the economy. How much of GDP it accounts for ?
159 - Industry is the second largest sector of the economy. How much of GDP it accounts for ?
0.182
160 - Space Satellite Badr II was launched on December 10, 2001 when Pakistan launched Pak Sat I ?
160 - Space Satellite Badr II was launched on December 10, 2001 when Pakistan launched Pak Sat I ?
37646
161 - The first nuclear power plant was set up in Karachi in ?
161 - The first nuclear power plant was set up in Karachi in ?
1972
162 - The biggest Industry of Pakistan is ?
162 - The biggest Industry of Pakistan is ?
Textile
163 - The Wah is famous for ?
163 - The Wah is famous for ?
Ordnance factory
164 - Mianwali is important for ?
164 - Mianwali is important for ?
irrigation work
165 - Which Pakistani city is famous for high quality sports equipment ?
165 - Which Pakistani city is famous for high quality sports equipment ?
Sialkot
166 - Which of the following is Cottage Industry ?
166 - Which of the following is Cottage Industry ?
Handicraft
167 - The Faisalabad is also known as ?
167 - The Faisalabad is also known as ?
Little Manchester
168 - When did Pakistan Meteorological Department Successfully experimented artificial rainfall in Thar (Sindh) ?
168 - When did Pakistan Meteorological Department Successfully experimented artificial rainfall in Thar (Sindh) ?
36741
169 - In the year 2010-11 what was per capita income ?
169 - In the year 2010-11 what was per capita income ?
1095
170 - Heavy Mechanical Complex Taxila was set up with the aid of ?
170 - Heavy Mechanical Complex Taxila was set up with the aid of ?
China
171 - When did Pakistan launched its first space satellite Badr I largely designed and fabricated by SUPARCO ?
171 - When did Pakistan launched its first space satellite Badr I largely designed and fabricated by SUPARCO ?
33070
172 - The biggest Industrial unit in public sector is ?
172 - The biggest Industrial unit in public sector is ?
Pakistan Steel Mili
173 - Which city is famous for the textile mills that produce finest worsted suiting in the world ?
173 - Which city is famous for the textile mills that produce finest worsted suiting in the world ?
Faisalabad
174 - Sialkot is also famous for Saddles & ?
174 - Sialkot is also famous for Saddles & ?
musical instruments
175 - Surgical instruments are made in ?
175 - Surgical instruments are made in ?
Wazirabad
176 - The agro based industry is ?
176 - The agro based industry is ?
Dairy farms
177 - The Chiniot city is known for its ornate brickwork and ?
177 - The Chiniot city is known for its ornate brickwork and ?
wooden work
178 - The ratio of Industrial progress in the country is ?
178 - The ratio of Industrial progress in the country is ?
0.086
179 - Guest worker programs usually result in temporary migration of workers from ?
179 - Guest worker programs usually result in temporary migration of workers from ?
impoverished countries to wealthy countries
180 - The migrations of electricians from low-paying nations to high-paying nations is most likely to be challenged by ?
180 - The migrations of electricians from low-paying nations to high-paying nations is most likely to be challenged by ?
electrician unions in the high-paying nations
181 - The migration of employable workers from low-paying nations to high-paying nations will ?
181 - The migration of employable workers from low-paying nations to high-paying nations will ?
increase business or capitalist incomes in the high-paying nations
182 - International joint ventures can lead to welfare losses when the newly established firm ?
182 - International joint ventures can lead to welfare losses when the newly established firm ?
gives rise to increased amounts of market power
183 - Accusations of American labor unions against U.S multinational firms include all of the following except ?
183 - Accusations of American labor unions against U.S multinational firms include all of the following except ?
operating at output levels where scale economies occur
184 - Multinational corporations face problems since they ?
184 - Multinational corporations face problems since they ?
may raise political problems in countries where their subsidiaries operate
185 - Multinational corporations ?
185 - Multinational corporations ?
increase the transfer of technology between nations
186 - All of the following are potential advantages of an international joint venture except ?
186 - All of the following are potential advantages of an international joint venture except ?
operating at diseconomy-of-scale output levels
187 - ____ was a strategy for industrial development popular in Latin America in the 1950s 1 1960s for promoting domestic production by erecting high protective tariffs on imports of manufactured goods ?
187 - ____ was a strategy for industrial development popular in Latin America in the 1950s 1 1960s for promoting domestic production by erecting high protective tariffs on imports of manufactured goods ?
import substitution
188 - Which of the following is not an example of foreign direct investment ?
188 - Which of the following is not an example of foreign direct investment ?
the purchase of bonds or stock issued by a textile company overseas
189 - ________ refers to the price charged for products sold to a subsidiary to a multinational corporation b another subsidiary in another country?
189 - ________ refers to the price charged for products sold to a subsidiary to a multinational corporation b another subsidiary in another country?
transfer pricing
190 - Multinational corporations ?
190 - Multinational corporations ?
produce primary goods or manufactured goods
191 - Which business device involves the creation of a new business by two or more companies often for a limited period of time ?
191 - Which business device involves the creation of a new business by two or more companies often for a limited period of time ?
international joint venture
192 - American labor unions have maintained that U.S multinational corporations have been ?
192 - American labor unions have maintained that U.S multinational corporations have been ?
exporting American jobs by investing overseas
193 - Firms undertake multinational operations in order to ?
193 - Firms undertake multinational operations in order to ?
All of the above
194 - The migration of employable workers from low-paying nations to high-paying nations tends to decrease ?
194 - The migration of employable workers from low-paying nations to high-paying nations tends to decrease ?
wage disparities
195 - The market power effect of an international joint venture can lead to welfare losses for the domestic economy unless offset by cost reductions. Which type of cost reduction would not lead to offsetting welfare gains for the overall economy ?
195 - The market power effect of an international joint venture can lead to welfare losses for the domestic economy unless offset by cost reductions. Which type of cost reduction would not lead to offsetting welfare gains for the overall economy ?
lower wages extracted from workers
196 - G. MecDougall showed in his tests that ?
196 - G. MecDougall showed in his tests that ?
relatively high U.K labor productivity was associated with relatively higher U.K export ratios
197 - Dynamic gains from trade could result from ?
197 - Dynamic gains from trade could result from ?
All of the above
198 - Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?
198 - Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?
Trades at Canada's marginal rate of transformation
199 - In autarky, when a community maximizes its standard of living its production point is ?
199 - In autarky, when a community maximizes its standard of living its production point is ?
on the production possibility frontier
200 - In aukarky, when a community maximizes its standard of living, its production and consumption point is ?
200 - In aukarky, when a community maximizes its standard of living, its production and consumption point is ?
On the production possibility frontier
201 - Which countries terms of trade improved between 1990 and 2000 ?
201 - Which countries terms of trade improved between 1990 and 2000 ?
Mexico and Sweden
202 - If a country has a liner (downward sloping) production possibilities frontier, then production is said to be subjected to ?
202 - If a country has a liner (downward sloping) production possibilities frontier, then production is said to be subjected to ?
constant opportunity costs
203 - If the relative Price (MRT) of T were to increase, then the price line would ?
203 - If the relative Price (MRT) of T were to increase, then the price line would ?
Become flatter
204 - The relative price (MRT) of T in terms of S is ?
204 - The relative price (MRT) of T in terms of S is ?
2
205 - Country B has the comparative advantage in ?
205 - Country B has the comparative advantage in ?
Beer
206 - In autarky the relative price of wine, in terms of beer, in Country B is ?
206 - In autarky the relative price of wine, in terms of beer, in Country B is ?
1W = 4 1/2B
207 - Country A has an absolute advantage in ?
207 - Country A has an absolute advantage in ?
neither products
208 - If countries were to trade along the lines of comparative advantage ?
208 - If countries were to trade along the lines of comparative advantage ?
A would export Y to B
209 - Country B has an absolute advantage in ?
209 - Country B has an absolute advantage in ?
Product X
210 - Comparative advantage is determined by ?
210 - Comparative advantage is determined by ?
relative differences in labor productivity between countries
211 - In the classical model of Ricardo, the direction of trade is determined by ?
211 - In the classical model of Ricardo, the direction of trade is determined by ?
Comparative advantage
212 - The gains from international trade are closely related to ?
212 - The gains from international trade are closely related to ?
How much the autarky price differs from international terms of trade change
213 - Mercantilism ?
213 - Mercantilism ?
Was a system of export promotion and barriers to imports practiced by governments?
214 - If the international terms of trade settle at a level that is between each country's opportunity cost ?
214 - If the international terms of trade settle at a level that is between each country's opportunity cost ?
Both countries gain from trade
215 - The earliest statement of the principle of comparative advantage is associated with ?
215 - The earliest statement of the principle of comparative advantage is associated with ?
David Ricardo
216 - According to the principle of comparative advantage ?
216 - According to the principle of comparative advantage ?
South Korea should export steel
217 - The opportunity cost of one DVD in South Korea is ?
217 - The opportunity cost of one DVD in South Korea is ?
Two tons of steel
218 - G. MacDougall's empirical results can be interpreted as ?
218 - G. MacDougall's empirical results can be interpreted as ?
Support for the Ricardian modal
219 - G. MacDougal compared export ratios and labor productivity ratios for the United States and the United Kingdom in order to test the:
219 - G. MacDougal compared export ratios and labor productivity ratios for the United States and the United Kingdom in order to test the:
Ricardian theory of comparative
220 - John Stuart Mill was the founder of the ?
220 - John Stuart Mill was the founder of the ?
Theory of reciprocal demand
221 - If the autarky price of S were lower in country A than in country B then if trade were allowed ?
221 - If the autarky price of S were lower in country A than in country B then if trade were allowed ?
A would likely export S to B
222 - In autarky equilibrium ?
222 - In autarky equilibrium ?
All of the above
223 - Given free trade, small nations tend to benefit the most from trade since they ?
223 - Given free trade, small nations tend to benefit the most from trade since they ?
Realize terms of trade lying near the MRTs of their large trading partners
224 - The terms of trade is given by the prices ?
224 - The terms of trade is given by the prices ?
Received for exports and paid for imports
225 - If a country has a bowed out (concave to the origin) production possibility frontier then production is said to be subject to ?
225 - If a country has a bowed out (concave to the origin) production possibility frontier then production is said to be subject to ?
increasing opportunity costs
226 - If the relative price (MRT) of S were to increase, then the price line would ?
226 - If the relative price (MRT) of S were to increase, then the price line would ?
Become steeper
227 - The Relative price (MRT)of S in terms of T i ?
227 - The Relative price (MRT)of S in terms of T i ?
44928
228 - Country A has the comparative advantage in ?
228 - Country A has the comparative advantage in ?
Wine
229 - In autarky, the relative price of wine, in terms of beer, in country A is ?
229 - In autarky, the relative price of wine, in terms of beer, in country A is ?
1W = 3B
230 - In autarky, the relative price of X, in terms of Y in A would be ?
230 - In autarky, the relative price of X, in terms of Y in A would be ?
4/3 Y
231 - If the countries were to trade along the lines of absolute advantage ?
231 - If the countries were to trade along the lines of absolute advantage ?
B would import Y from A
232 - Country A has an absolute advantage in__________?
232 - Country A has an absolute advantage in__________?
Product Y
233 - Absolute advantage is determined by ?
233 - Absolute advantage is determined by ?
actual differences in labor production between countries
234 - According to the Classical theory of international trade ?
234 - According to the Classical theory of international trade ?
All of the above are false
235 - The classical trade theories of Smith and Ricardo predict that ?
235 - The classical trade theories of Smith and Ricardo predict that ?
All of the above
236 - International trade is based on the nation that ?
236 - International trade is based on the nation that ?
Goods are more mobile internationally than are resources
237 - If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?
237 - If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?
Trade would depend on difference in demand conditions
238 - With international trade, what would be the maximum number of DVDs that Japan would be willing to export to South Korea in exchange for each ton of steel ?
238 - With international trade, what would be the maximum number of DVDs that Japan would be willing to export to South Korea in exchange for each ton of steel ?
One DVD
239 - With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?
239 - With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?
Two tons of steel
240 - According to the Principle of absolute advantage Japan should ?
240 - According to the Principle of absolute advantage Japan should ?
There is no basis for gainful specialization and trade
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