markets efficiency and the public interest MCQs – Page 2

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
21. A person will continue to pursue an activity up to the point where ?
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A. marginal benefit equals marginal private cost

B. Marginal benefit equals marginal damage cost

C. marginal social cost equals marginal external cost

D. marginal benefits equals marginal social cost

22. If one persons enjoyment of the benefits of a good does not interfere with anothers consumption of it, the good is said to be ?
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A. non-excludable

B. non-rival in consumption

C. limitless in utility

D. congestible in consumption

23. That the company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way to serving customer needs is a major tenet of ?
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A. innovative marketing

B. consumer oriented marketing

C. value marketing

D. sense -f mission marketing

24. ________ is the practice of adopting policies and developing strategies that both sustain the environment and produce profits for the company ?
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A. Consumerism

B. Consumer accountability

C. Environmentalism

D. Environmental sustainability
25. Sellers that handle their own exports are engaged in ?
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A. indirect exporting

B. contract manufacturing

C. direct exporting

D. licensing

26. Conflicts between different levels of the same channel of distribution are referred to as ?
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A. vertical conflicts

B. horizontal conflicts

C. parallel conflicts

D. layer-based conflicts

27. _______ is quoted as saying that everyone lives by selling something?
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A. Robert Louis Stevenson

B. Bill Gates

C. Arthur Miller

D. Henry Ford

28. _______ factors are the most popular bases for segmenting customer groups?
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A. Geographic

B. Behavioral

C. Psychographic

D. Demographic
29. If your company were to make light bulbs to be used in photocopiers you would most likely be selling to a _________ market?
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A. service

B. reseller

C. government

D. business
30. A(n) _____ is a retail store that carries a narrow product line with a deep assortment within that line ?
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A. specialty store

B. convenience store

C. shopping goods store

D. department store

31. 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 ?
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A. Core Process products selling

B. Design Products selling

C. Systems selling

D. Reciprocal spelling

32. Today advertising captures about ________ percent of total promotion spending?
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A. 23

B. 33

C. 29

D. 15

33. 3M runs a Pollution a Prevention Pays program that has led to a substantial reduction in pollution and costs this would be an example of responding and costs. This would be an example of responding to which of the following ?
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A. Governmental regulation

B. Naders raiders

C. The green movement

D. International competition

34. Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family?
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A. husband

B. grandparent

C. teenage children

D. wife
35. All of the following considered to be drawbacks of local marketing EXCEPT ?
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A. it can create logistical problems when the company tries to meet varied requirements

B. it can drive up manufacturing and marketing costs by reducing economies of scale

C. it can attract unwanted competition

D. it can dilute the brands overall image

36. ________ is the process of evaluating each market segments attractiveness and selecting one or more segments to enter?
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A. Market targeting

B. Market segmentation

C. Mass marketing

D. Market positioning

37. A price reduction to buyers who buy in large volumes is called a(n) ?
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A. trade discount

B. seasonal discount

C. cash discount

D. quantity discount
38. More and more salespeople are being evaluated and compensated based on different measures than in the past. All of the following are illustrations of those measures EXCEPT ?
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A. competitive predatory pricing performance

B. long term customer sanctification

C. full customer service

D. retention rates

39. If Honda uses its company name to cover such different products as its automobiles lawn mowers and motorcycles, it is practicing which of the following strategies ?
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A. new brand strategy

B. line extension strategy

C. brand extension strategy

D. multiband strategy

40. One of the most common problems with using internal database information is that ?
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A. it is usually expensive to retrieve

B. top executives are usually unwilling to relinquish data therefore the data has limits

C. since it was probably collected for some other purpose it may be incomplete or wrong

D. the data is almost always unsecured and therefore, suspect as to reliability