Chapter 13: The Marketing Mix Price

Chapter 13: The Marketing Mix Price

10th - 11th Grade

15 Qs

Student preview

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Chapter 13: The Marketing Mix Price

Chapter 13: The Marketing Mix Price

Assessment

Quiz

Created by

Dean Hoss

Other

10th - 11th Grade

316 plays

Hard

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free market, prices are determined by:
supply and wants
demand and output
demand and supply
supply and needs.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price of most products increases, the demand for these products will be likely to:
fall
increase
stay the same
increase and then remain constant.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The demand for Coke is most likely to be affected by which of the following changes?
the price of Pepsi-Cola
the supply of Coca-Cola
the cost of producing Coca-Cola
an increase in incomes of people who do not buy Coca-Cola

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price for a product rises 10%, product demand falls by a smaller proportion, which is true?
The supply of the product is inelastic.
Competitors have lowered their prices.
Demand for the product is inelastic.
Demand for the product is elastic.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price of a product rises by 5% and the market supply rises by 20%. Which is true?
Demand for the product is elastic.
Supply is inelastic.
Firms have been unable to increase output.
Supply is elastic.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When demand and supply are equal in a free market, which of the following is true?
The price is at its equilibrium level.
Price skimming is being used.
Supply and demand are both elastic.
Cost-plus pricing is being used.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A firm is most likely to adopt a low price (penetration) strategy for a product when:
sales are increasing rapidly
competitors have just raised their prices
the objective is to achieve a high market share
the firm wants to establish a luxury image for the product.

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