Description : When a glove manufacturer is allowed to sell only a certain number of plastic gloves in a particular country, the firm is facing A)a tariff. B)an embargo. C)a restrictive product standard. D)a quota. E)a balance of trade restriction.
Last Answer : D)a quota.
Description : A government’s restriction on the quantity of imports of a country is known as (a) Export quota (b) Import quota © Import rent. (d) Embargo.
Last Answer : (b) Import quota
Description : The warning label on a pack of Silk Cut cigarettes is included most directly to A)satisfy legal requirements. B)promote the product. C)encourage the proper use of the product. D)position the product as being socially responsible.
Last Answer : A)satisfy legal requirements.
Description : e __________ is the difference in value between a nation's exports and its imports. A)balance of payments B)export/import ratio C)gross domestic product D)net trade value E)balance of trade
Last Answer : A)balance of payments
Description : The effective rate of protection (a). distinguishes between tariffs that are effective and those that are ineffective (b). is the minimum level at which a tariff becomes effective in ... in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Last Answer : d). shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Description : Morris Business Products Co. has established a monthly sales quota of £150,000. This is: A)a marketing control standard. B)an evaluation standard. C)sales analysis. D)performance standard.
Last Answer : D)performance standard.
Description : Warning signs that cause the auditor to question management integrity must be taken seriously and pursued vigorously. Which of the following may lead the auditor to suspect management ... with the controller for the purpose of discussing accounting practices that will maximize reported profits
Last Answer : The president and chief executive officer of the client corporation has held numerous meetings with the controller for the purpose of discussing accounting practices that will maximize reported profits
Description : Which of the following exceptions in the WTO rules does not permit a country to use a tariff or quota that is more restrictive than its bound tariff? A. Anti-dumping B. Countervailing duties C. Safeguards D. Balance of payments protection E. Preferential trade agreements
Last Answer : E. Preferential trade agreements
Description : Which one of the following is not a non-tariff barrier ? (a) Voluntary export restraint (b) Quota (c) Advalorem tariff (d) Technical barriers
Last Answer : Advalorem tariff
Description : Greg Beck of Quality Market Research tells placement student John to go out and select for personal interview ten men and ten women. Greg is using __________sampling for this phase of the research: A)random B)stratified C)quota D)area
Last Answer : C)quota
Description : When a population is divided into distinct groups based on some particular characteristic and a probability sample is taken from each group, this exemplifies: A)area sampling B)quota sampling C)stratified sampling D)cluster sampling E)simple random sampling
Last Answer : D)cluster sampling
Description : Which sampling design gives every member of the population an equal chance of appearing in the sample? A)area sampling B)random sampling C)quota sampling D)stratified sampling E)total population sampling
Last Answer : B)random sampling
Description : In what type of sampling design is the final choice of respondents left up to the interviewer? A)stratified sampling B)random sampling C)cluster sampling D)area sampling E)quota sampling
Last Answer : E)quota sampling
Description : A product is a price leader when: A)it is sold at the highest possible price. B)an increase in price leads to increased revenue C)it sometimes is sold at less than cost in the hope that sales of other products will increase. D)its price leads the industry and competitors follow with similar prices.
Last Answer : C)it sometimes is sold at less than cost in the hope that sales of other products will increase. D)its price leads the industry and competitors follow with similar prices.
Description : Export agents A)bring buyers and sellers from different countries together and collect a commission for arranging sales. B)purchase products from different companies and sell them to ... customers in foreign countries. D)arrange for licensing agreements between domestic and foreign countries.
Last Answer : A)bring buyers and sellers from different countries together and collect a commission for arranging sales.
Description : The gross domestic product is A)a measure of the profit made by all firms in the nation. B)the average annual earnings per person in the nation. C)a measure of the types of products produced by a nation. D)an overall measure of a nation's economic standing.
Last Answer : D)an overall measure of a nation's economic standing.
Description : When a firm's products are marketed outside its home market and home production is VU Cafeteria used to supply these markets, the firm is engaging in A)international marketing. B)global marketing. C)exporting. D)domestic marketing. E)unplanned exporting.
Last Answer : C)exporting.
Description : he consumer movement is: A)against foreign imports that are much cheaper than products produced in the home market B)a movement that is trying to improve consumer satisfaction C)a ... D)a diverse group of individuals, groups and organisations attempting to protect the rights of consumers
Last Answer : D)a diverse group of individuals, groups and organisations attempting to protect the rights of consumers
Description : .A tariff that is levied as a fixed charge per unit of imports is known as a (a) Specific tariff (b) Ad- valorem tariff © Import tariff (d) Export tariff.
Last Answer : a) Specific tariff
Description : Tariff is a----- (a) Quantitative restrictions on import. (b) Tax on import. © License on import. (d) Both (b) and (c).
Last Answer : (b) Tax on import.
Description : axes levied by a nation on goods bought outside its borders and brought in are called A)import duties. B)export duties. VU Cafeteria C)export tariffs. D)quotas. E)import tariffs.
Last Answer : E)import tariffs.
Description : A tariff can---raise a country’s welfare (a) sometimes (b) always © never (d) none of the above
Last Answer : a) sometimes
Description : When tariff is imposed on imports which of the following will increase? (a) Domestic output. (b) Domestic demand. © Domestic price. (d) Domestic consumption.
Last Answer : © Domestic price.
Description : Which one of the following statements relating to the differences between industrial and consumer marketing is FALSE? A)Distribution channels tend to be shorter for industrial products than for ... and economic constraints placed on pricing is roughly the same for industrial and consumer products
Last Answer : C)The number of legal and economic constraints placed on pricing is roughly the same for industrial and consumer products
Description : Competition-oriented pricing is: A)used when costs and revenues are considered secondary to competitors' prices. B)not useful as a method of increasing or maintaining market share. C)of little use if the competing products are homogenous. D)most often used when competing products are heterogeneous.
Last Answer : A)used when costs and revenues are considered secondary to competitors' prices.
Description : What is embargo? a) A ship, which often comes late b) A ban on publication before a specific date c) A story, which has no end d) None of these
Last Answer : b) A ban on publication before a specific date
Description : What is embargo? A. A ship, which often comes late B. A ban on publication before a specific date C. A story, which has no end D. None of these
Last Answer : B. A ban on publication before a specific date
Description : The UPC is also known as the A)price label B)product code C)bar code D)product label
Last Answer : C)bar code
Description : The label on a pack of frozen peas says, 'packed within an hour of picking'. These words are used to: A)to encourage multiple puchases B)to provide information C)to satisfy legal requirements D)for promotional reasons
Last Answer : D)for promotional reasons
Description : A carton of orange juice has no brand name on the package, only the name of the product 'orange juice'. This is an example of A)a manufacturer's brand. B)an own label brand C)a no -frills brand D)a generic brane
Last Answer : D)a generic brane
Description : St. Michael, the brand of Marks and Spencer, is an example of __________ brand. A)a manufacturer B)a generic C)a wholesaler D)an own label
Last Answer : D)an own label
Description : __________ brands usually require a producer to become involved in distribution, promotion, and pricing decisions. A)Retailer B)Manufacturer C)Own label D)Wholesaler
Last Answer : B)Manufacturer
Description : Houghton Mifflin Company is the __________ of the publisher of your marketing textbook. A)trade name B)brand mark C)trade label D)brand
Last Answer : A)trade name
Description : Which of the following statements about labeling frozen vegetables is FALSE? A)The label can be used to facilitate the identification of a product. B)Labels do not have to disclose nutritional information. C)Labeling has a descriptive function. D)The label can play a promotional function
Last Answer : B)Labels do not have to disclose nutritional information.
Description : The label on a soft drink can reads "cool and refreshing." For what reason are these words used? A)To provide information B)To encourage multiple purchases C)To promote the product D)To satisfy legal requirements
Last Answer : C)To promote the product
Description : The major characteristic of own label brands is that A)only retailers initiate and own the brand. B)manufacturers are not identified on the product. C)producers become involved with the marketing mix. D)producers are identified on the product.
Last Answer : B)manufacturers are not identified on the product
Description : Own label brands are initiated and owned by A)manufacturers only. B)manufacturers and retailers. C)wholesalers only. D)manufacturers and wholesalers. E)wholesalers or retailers.
Last Answer : E)wholesalers or retailers.
Description : During the growth stage of the product life cycle, the marketer should A)fortify the product position. B)move to exclusive distribution. C)raise the price. D)increase promotion as a percentage of sales.
Last Answer : A)fortify the product position.
Description : Which one of the following is considered a situational factor influencing the consumer buying decision process? A)Family B)Culture C)A raise in pay D)Personality E)Social class
Last Answer : C)A raise in pay
Description : When marginal cost is equal to marginal revenue, the firm should A)produce more to increase profits. B)produce less to decrease total costs. C)stop producing additional units to maximise profits. D)provide discounts to encourage purchases.
Last Answer : C)stop producing additional units to maximise profits.
Description : If a product has an inelastic demand and the manufacturer raises its price, A)total revenue will increase. B)quantity demanded will increase. C)the demand schedule will shift. D)the demand will become more inelastic. E)total revenue will decrease.
Last Answer : A)total revenue will increase.
Description : A marketer sometimes uses temporary price reductions to: A)increase the number of competitors. B)gain market share. C)decrease volume sold. D)increase revenue per item.
Last Answer : B)gain market share.
Description : Most pricing objectives based on ---- are achieved by trial and error because not all the cost and revenue data are available when prices are set. A)market share B)cash flow C)return on investment D)survival E)profit
Last Answer : C)return on investment
Description : Price is a key element in the marketing mix because it relates directly to A)the size of the sales force. B)the speed of an exchange. C)quality controls. D)the generation of total revenue. E)brand image.
Last Answer : D)the generation of total revenue.
Description : Alex Knox, a young dentist, finds that he is not bringing in enough revenue to cover his expenses. He would like to schedule more patients, but he finds that in almost every time slot ... practice deal with the aspect of service called: A)perishability. B)credence. C)inseparability. D)heterogeneity.
Last Answer : C)inseparability.
Description : The _____ stage of the product life cycle, generates most sales revenue for the firm. A)introduction B)growth C)maturity D)decline
Last Answer : C)maturity
Description : A partnership between a domestic firm and a foreign firm is known as A)a joint venture. B)an international partnership. C)a multinational enterprise D)licensing. E)exporting
Last Answer : A)a joint venture.
Description : Would you be more or less likely to purchase music that came with a label warning the listener of implicit lyrics?
Last Answer : I would suppose that “implicit” referred to graphic sexual (or possibly violent) content as opposed to cussing. If I were buying it for young children, either label would steer me away. If it’s for an adult, neither would.
Description : If you came with a warning label, what would it say?
Last Answer : “Warning, this product is a terrible conversationalist”
Description : What comes on your warning label?
Last Answer : My mailman with his pants down, on request