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markets efficiency and the public interest MCQs

Practise focused markets efficiency and the public interest questions with marked answers for exam preparation and subject revision.

markets efficiency and the public interest Mcqs

1. An example of public good is ?
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A. a beautifully landscaped lawn.

B. a book

C. a public utility.

D. preservation of wetlands

2. 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 ?
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A. Lifestyle

B. Mood or imagery

C. Slice of life

D. Personality symbol

3. One common misuse of marketing research findings in contemporary business is the tendency for marketing research tp ?
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A. become a vehicle for pitching the sponsors products

B. become a means of unfair competition

C. become a means for raising prices

D. become a vehicle for pitching the sponsors products

4. Externalities are a problem only if ?
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A. the externalities are negative

B. decision makers do not take them into account

C. all firms are perfectly competitive

D. all firms are monopolistic

5. ______ includes practices such as overstating the products features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?
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A. Deceptive cost structure

B. Deceptive packaging

C. Deceptive promotion

D. Deceptive pricing

6. The American Marketing Association suggests a list of code of ethics All of the following are ethics suggested in the area of distribution EXCEPT ?
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A. not manipulating the availability of a product for purpose of explotation

B. not using coercion in the marketing channel

C. not exerting undue influence over the resellers choice to handle a product

D. using gray marketers whenever possible to save the consumer money

7. 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 ?
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A. Manufacturers brand

B. Licensed brands

C. Co-brand

D. Private brand

8. 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)?
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A. horizontal marketing system

B. diversified marketing system

C. vertical marketing system

D. parallel marketing system

9. ___________ is a strategy of using a successful brand name to launch a new of modified product in a new category ?
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A. Line extension

B. Duobranding

C. Multibranding

D. Brand extension

10. ________ 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?
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A. Market positioning

B. Product differentiation

C. Market targeting

D. Market segmentation

11. 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 ?
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A. product quality leadership

B. Survival

C. current profit maximization

D. Market share leadership

12. In evaluating messages for advertising telling how the product is better than the competing brands aims at making the ad ?
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A. distinctive

B. remembered

C. meaningful

D. believable

13. The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?
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A. firms are not price takers in the output market

B. all of the above

C. households do not have perfect information

D. firms are not price takers in input markets

14. The type of sales presentation approach that requires good listening and problem-solving skills is the ?
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A. canned approach

B. critical-thinking approach

C. need-satisfaction approach

D. formula appraoch

15. _______ is the general term for a buying and selling process that is supported by electronic means?
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A. Web commerce

B. Computer commerce

C. Internet commerce

D. Electronic commerce

16. The statement everything affects everything else reflects the principle behind ?
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A. general equilibrium analysis

B. efficiency analysis

C. equity analysis

D. partial equilibrium analysis

17. Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of business ?
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A. To protect the interests of society

B. To protect companies form each other

C. To protect consumers from unfair business practices

D. To protect businesses from unfair consumer demands

18. If a large number of individuals are affected by an external benefit, private bargaining will not work because of ?
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A. the Coase theorem

B. the fallacy of composition

C. the free-rider problem

D. non-rivalry

19. The type of salesforce structure in which the sales force sells along product lines is called a ?
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A. retail salesforce

B. customer salesforce

C. territorial salesforce

D. product salesforce

20. A three day cooling off period in which buyers can cancel a contract after re-thinking it is to protect the consumer from ?
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A. detail selling

B. high pressure telling

C. hard core selling

D. creative selling

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