In a free market, prices are determined by:
Chapter 13: The Marketing Mix Price
10th - 11th Grade
•15 Qs
Student preview
Similar activities
Economics Quiz 2 Practice
9th - 12th Grade
•15 Qs
PED & PES
9th - 10th Grade
•12 Qs
Microeconomics Test Review
11th Grade
•20 Qs
Marketing Management Study Guide EOPA (Pricing)
9th - 12th Grade
•20 Qs
Economics - Elasticity - PED
11th - 12th Grade
•15 Qs
Unit 2 - Economics Practice Quiz
11th Grade
•15 Qs
Price Elasticity of Supply Quiz
11th Grade - University
•10 Qs
Supply and Demand
10th - 12th Grade
•10 Qs
Chapter 13: The Marketing Mix Price
Quiz
•
Dean Hoss
•
Other
•
10th - 11th Grade
•
316 plays
•
Hard
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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.
Explore all questions with a free account
Microsoft
Apple
Others
Similar Resources on Quizizz
10 questions
OCR GCSE Economics - 2.5 - Competition
Quiz
•
10th Grade
16 questions
IB Microeconomics - Supply and Demand
Quiz
•
11th Grade - University
13 questions
Consumer & Producer Surplus
Quiz
•
9th Grade - University
20 questions
The Market System
Quiz
•
9th - 12th Grade
13 questions
Marketing Mix Short
Quiz
•
11th - 12th Grade
15 questions
Micro-Economics Test Review
Quiz
•
11th - 12th Grade
20 questions
Marketing Quiz 2.0 Foundations
Quiz
•
11th Grade
10 questions
3. Decision Making to Improve Marketing Performance
Quiz
•
8th - 10th Grade
Popular Resources on Quizizz
19 questions
Naming Polygons
Quiz
•
3rd Grade
14 questions
Prime Factorization
Quiz
•
6th Grade
20 questions
math review
Quiz
•
4th Grade
21 questions
6th Grade Math CAASPP Practice
Quiz
•
6th Grade
20 questions
Reading Comprehension
Quiz
•
5th Grade
20 questions
Types of Credit
Quiz
•
9th - 12th Grade
35 questions
4th Grade Math SOL Review
Quiz
•
4th Grade
20 questions
Taxes
Quiz
•
9th - 12th Grade
Discover more resources for Other
20 questions
Types of Credit
Quiz
•
9th - 12th Grade
20 questions
Taxes
Quiz
•
9th - 12th Grade
20 questions
Managing Credit
Quiz
•
9th - 12th Grade
20 questions
Investing
Quiz
•
9th - 12th Grade
20 questions
Insurance
Quiz
•
9th - 12th Grade
20 questions
Common Grammar Mistakes
Quiz
•
7th - 12th Grade
20 questions
Paying for College
Quiz
•
9th - 12th Grade
20 questions
Biology EOC Practice
Quiz
•
10th Grade