MCQOPTIONS
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MCQOPTIONS
This section includes 161 Mcqs, each offering curated multiple-choice questions to sharpen your Economics knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
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 ? |
| A. | limitless in utility |
| B. | non-rival in consumption |
| C. | congestible in consumption |
| D. | non-excludable |
| Answer» C. congestible in consumption | |
| 102. |
If Mark Mars pays Hershey Foods Corporation for the right to use their name on his line of T-shirts then Mr. Mars is using which type of branding ? |
| A. | Licensed brands |
| B. | Manufacturer’s brand |
| C. | Private brand |
| D. | Co-brand |
| Answer» B. Manufacturer’s brand | |
| 103. |
If Honda uses its company name to cover such different products as its automobile’s lawn mowers and motorcycles, it is practicing which of the following strategies ? |
| A. | new brand strategy |
| B. | line extension strategy |
| C. | multiband strategy |
| D. | brand extension strategy |
| Answer» E. | |
| 104. |
If an advertiser wants flexibility timeliness good local market coverage broad acceptability, and high believability the advertiser will probably choose which of the following mass media types ? |
| A. | Newspapers |
| B. | Television |
| C. | Direct Mail |
| D. | Radio |
| Answer» B. Television | |
| 105. |
If advertising constantly spends out message about materialism sex power and status which of the following categories of social criticism most closely matches this problem ? |
| A. | Too much advertising |
| B. | Too few social goods |
| C. | Cultural pollution |
| D. | Too much political power |
| Answer» D. Too much political power | |
| 106. |
If a large number of individuals are affected by an external benefit, private bargaining will not work because of ? |
| A. | non-rivalry |
| B. | the free-rider problem |
| C. | the Coase theorem |
| D. | the fallacy of composition |
| Answer» C. the Coase theorem | |
| 107. |
If a government uses barriers to foreign products such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features the government is using ? |
| A. | Protectionism |
| B. | exchange controls |
| C. | exchange facilitators |
| D. | nontariff trade barriers |
| Answer» E. | |
| 108. |
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 ? |
| A. | Core Process products selling |
| B. | Design Products selling |
| C. | Reciprocal spelling |
| D. | Systems selling |
| Answer» E. | |
| 109. |
If a consumer describes a car as being the most economical car on the market than this descriptor is a? |
| A. | rule |
| B. | attitude |
| C. | belief |
| D. | cute |
| Answer» D. cute | |
| 110. |
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 ? |
| A. | Advertising |
| B. | Personal selling |
| C. | Public relations |
| D. | Sales promotion |
| Answer» B. Personal selling | |
| 111. |
If a company (considering its options on the product/market expansion grid) chooses to move into different unrelated fields (from what it ha ever done before) with new products as a means to stimulate growth the company would be following which of the following general strategies ? |
| A. | market penetrations |
| B. | market development |
| C. | product development |
| D. | diversification |
| Answer» E. | |
| 112. |
___________ have contractual authority to sell a manufacturer’s entire output? |
| A. | Selling agents |
| B. | Rack jobbers |
| C. | Manufacturer’s agents |
| D. | Purchasing agents |
| Answer» B. Rack jobbers | |
| 113. |
__________ has the advantage of being high in selectivity low cost; immediacy; and interactive capabilities? |
| A. | Direct Mail |
| B. | Outdoor |
| C. | Online |
| D. | Radio |
| Answer» D. Radio | |
| 114. |
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 ? |
| A. | Hispanics and Asians |
| B. | African Americans |
| C. | Western Europeans |
| D. | Middle Eastern |
| Answer» B. African Americans | |
| 115. |
_______ factors are the most popular bases for segmenting customer groups? |
| A. | Geographic |
| B. | Demographic |
| C. | Psychographic |
| D. | Behavioral |
| Answer» C. Psychographic | |
| 116. |
Externalities are a problem only if ? |
| A. | decision makers do not take them into account |
| B. | all firms are perfectly competitive |
| C. | the externalities are negative |
| D. | all firms are monopolistic |
| Answer» B. all firms are perfectly competitive | |
| 117. |
Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family? |
| A. | wife |
| B. | husband |
| C. | teenage children |
| D. | grandparent |
| Answer» B. husband | |
| 118. |
Each salesperson is assigned to an exclusive area in which to sell the company’s full line of products or services in which type of salesforce structure ? |
| A. | Territorial sales force |
| B. | Product sales force |
| C. | Customer sales force |
| D. | Hybrid sales force |
| Answer» B. Product sales force | |
| 119. |
Drop shippers perform which of the following functions ? |
| A. | Assumes title and ships coal, lumber or heavy equipment to a buyer |
| B. | Stocks the bread rack in a grocery store |
| C. | Maintains, owns and stocks a CD display in a grocery store |
| D. | Sells jewelry out of a catalog |
| Answer» B. Stocks the bread rack in a grocery store | |
| 120. |
_________ describes changes in an individual’s behavior arising from experience? |
| A. | Modeling |
| B. | Motivation |
| C. | Perception |
| D. | Learning |
| Answer» E. | |
| 121. |
Costs that do not vary with production or sales levels are called ? |
| A. | fixed costs |
| B. | variable costs |
| C. | standard costs |
| D. | independent costs |
| Answer» B. variable costs | |
| 122. |
Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called? |
| A. | custom products |
| B. | specialty products |
| C. | convenience products |
| D. | shopping products |
| Answer» C. convenience products | |
| 123. |
________ 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? |
| A. | Product differentiation |
| B. | Market segmentation |
| C. | Market targeting |
| D. | Market positioning |
| Answer» C. Market targeting | |
| 124. |
Conflicts between different levels of the same channel of distribution are referred to as ? |
| A. | horizontal conflicts |
| B. | vertical conflicts |
| C. | layer-based conflicts |
| D. | parallel conflicts |
| Answer» C. layer-based conflicts | |
| 125. |
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 ? |
| A. | Too much advertising |
| B. | Too few social goods |
| C. | Cultural pollution |
| D. | Too much political power |
| Answer» E. | |
| 126. |
Coginitive dissonance occurs in which stage of the buyer decision process model ? |
| A. | Need recognition |
| B. | Information search |
| C. | Evaluation of alternative |
| D. | Postpurchase behaviour |
| Answer» E. | |
| 127. |
Catalog marketing is big business in the United States. The average house hold receives __________ catalogs per year? |
| A. | 25 |
| B. | 50 |
| C. | 75 |
| D. | 100 |
| Answer» C. 75 | |
| 128. |
_______ beliefs values are open to some degree of change ? |
| A. | Crucial |
| B. | Core |
| C. | Primary |
| D. | Secondary |
| Answer» E. | |
| 129. |
_________ are products bought by individuals and organizations for further processing or for use in conducting a business? |
| A. | Consumer products |
| B. | Services |
| C. | Industrial products |
| D. | Specialty products |
| Answer» D. Specialty products | |
| 130. |
________ are ads that appear while subscribers are surfing online services or Web sites, including banners, pop-up windows, tickers and roadblocks? |
| A. | Online infomercials |
| B. | Online ads |
| C. | Online broadcasts |
| D. | Online bullets |
| Answer» C. Online broadcasts | |
| 131. |
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) ? |
| A. | idea |
| B. | demand |
| C. | product |
| D. | service |
| Answer» D. service | |
| 132. |
A(n) _____ is a retail store that carries a narrow product line with a deep assortment within that line ? |
| A. | shopping goods store |
| B. | convenience store |
| C. | specialty store |
| D. | department store |
| Answer» D. department store | |
| 133. |
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 ? |
| A. | Product feature |
| B. | sponsorship |
| C. | brand |
| D. | logo |
| Answer» D. logo | |
| 134. |
An example of public good is ? |
| A. | a beautifully landscaped lawn. |
| B. | preservation of wetlands |
| C. | a public utility. |
| D. | a book |
| Answer» C. a public utility. | |
| 135. |
A(n) _____ are computerized collections of information obtained from data sources within the company ? |
| A. | retrieval systems |
| B. | marketing research reports |
| C. | flow diagrams and PERT charts |
| D. | internal databases |
| Answer» E. | |
| 136. |
All of the following would be ways to segment within the category of psychographic segmentation EXCEPT ? |
| A. | social class |
| B. | occupation |
| C. | lifestyle |
| D. | personality |
| Answer» C. lifestyle | |
| 137. |
All of the following factors can affect the attractiveness of a market segment EXCEPT ? |
| A. | the presence of many strong and aggressive competitors |
| B. | the likelihood of government monitoring |
| C. | actual or potential substitute products |
| D. | the power of buyers in the segments |
| Answer» C. actual or potential substitute products | |
| 138. |
All of the following considered to be drawbacks of local marketing EXCEPT ? |
| A. | it can drive up manufacturing and marketing costs by reducing economies of scale |
| B. | it can create logistical problems when the company tries to meet varied requirements |
| C. | it can attract unwanted competition |
| D. | it can dilute the brand’s overall image |
| Answer» D. it can dilute the brand’s overall image | |
| 139. |
All of the following are ways that marketing plays a key role in the company’s strategic planning EXCETP ? |
| A. | marketing provides a guiding philosophy |
| B. | marketing is the only discipline that can provide a formal structure for the planning effort |
| C. | marketing provides inputs to strategic planners by helping to identify attractive market opportunities |
| D. | within individual business units marketing designs strategies for reaching the unit’s objectives |
| Answer» C. marketing provides inputs to strategic planners by helping to identify attractive market opportunities | |
| 140. |
All of the following are thought to be sources of new product ideas EXCEPT ? |
| A. | internal sources |
| B. | customers |
| C. | competitors |
| D. | the local library |
| Answer» E. | |
| 141. |
All of the following are methods by which a company can divide up its sales responsibilities EXCEPT ? |
| A. | territorial sales force structure |
| B. | pychographic trait sales force structure |
| C. | product sales force structure |
| D. | customer sales force structure |
| Answer» C. product sales force structure | |
| 142. |
All of the following are criticisms leveled against marketing by critics EXCEPT ? |
| A. | harming consumers through high prices |
| B. | harming consumers through deceptive practices |
| C. | harming consumers through high-pressure selling |
| D. | harming consumers through too many product choices |
| Answer» E. | |
| 143. |
All of the following are commonly recognized promotion budget formal EXCEPT ? |
| A. | the affordable method |
| B. | the LIFO method |
| C. | the percentage of sales method |
| D. | the objective and task method |
| Answer» C. the percentage of sales method | |
| 144. |
According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment? |
| A. | natural |
| B. | demographic |
| C. | economic |
| D. | technological |
| Answer» E. | |
| 145. |
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 ? |
| A. | Good-value strategy |
| B. | Premium strategy |
| C. | Overcharging strategy |
| D. | Snob strategy |
| Answer» D. Snob strategy | |
| 146. |
According to Engel’s law as income rises ? |
| A. | The percentage spent on food rises |
| B. | The percentage spent on housing increases |
| C. | The percentage spent on other categories increase |
| D. | The percentage spent on savings remains constant |
| Answer» D. The percentage spent on savings remains constant | |
| 147. |
A three day cooling off period in which buyers can cancel a contract after re-thinking it is to protect the consumer from ? |
| A. | creative selling |
| B. | high pressure telling |
| C. | detail selling |
| D. | hard core selling |
| Answer» C. detail selling | |
| 148. |
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) ? |
| A. | retailer |
| B. | wholesaler |
| C. | distribution channel |
| D. | logistics |
| Answer» D. logistics | |
| 149. |
A price reduction to buyers who buy in large volumes is called a(n) ? |
| A. | quantity discount |
| B. | cash discount |
| C. | seasonal discount |
| D. | trade discount |
| Answer» B. cash discount | |
| 150. |
A person will continue to pursue an activity up to the point where ? |
| A. | Marginal benefit equals marginal damage cost |
| B. | marginal benefits equals marginal social cost |
| C. | marginal benefit equals marginal private cost |
| D. | marginal social cost equals marginal external cost |
| Answer» D. marginal social cost equals marginal external cost | |