MGT 103 COMPREHENSIVE STUDY GUIDE
2026 FULLY SOLVED QUESTION SET
◉profit margin. Answer: net income/net sales
◉Promotions. Answer: publicity campaigns; a push to show or get
the word out about a product or service; generate interest
◉PURE COMPETITION. Answer: MANY SELLERS SAME PRODUCT
◉MONOPOLISITC COMPETITON. Answer: MANY SELLERS WHO
DIFFERNTIATE COMPETE
◉OLIGOPY. Answer: few sellers who are sensitive to each other's
prices
◉Monopoly. Answer: Complete control of a product or business by
one person or group
◉BREAK EVEN. Answer: A point at which revenue equals expenses.
, ◉FIXED COSTS. Answer: costs that remain constant as output
changes
◉VARIABLE COSTS. Answer: costs that change as output changes
◉Leverage costs. Answer: EXPENSES INCURRED WHEN USING
BORROWED CAPITAL
◉Demand-Oriented Pricing. Answer: Setting prices based on what
the customer is willing to pay.
◉Competition-Oriented Pricing. Answer: prices are set on the basis
of what competitors charge.
◉prestige pricing. Answer: setting a high price so that quality or
status conscious consumers will be attracted to the product and buy
it
◉price lining. Answer: setting a few price levels for a product line
and then marking all items at these prices
◉STAGES OF PRODUCT LIFE STYLE. Answer: introduction, growth,
maturity, decline
2026 FULLY SOLVED QUESTION SET
◉profit margin. Answer: net income/net sales
◉Promotions. Answer: publicity campaigns; a push to show or get
the word out about a product or service; generate interest
◉PURE COMPETITION. Answer: MANY SELLERS SAME PRODUCT
◉MONOPOLISITC COMPETITON. Answer: MANY SELLERS WHO
DIFFERNTIATE COMPETE
◉OLIGOPY. Answer: few sellers who are sensitive to each other's
prices
◉Monopoly. Answer: Complete control of a product or business by
one person or group
◉BREAK EVEN. Answer: A point at which revenue equals expenses.
, ◉FIXED COSTS. Answer: costs that remain constant as output
changes
◉VARIABLE COSTS. Answer: costs that change as output changes
◉Leverage costs. Answer: EXPENSES INCURRED WHEN USING
BORROWED CAPITAL
◉Demand-Oriented Pricing. Answer: Setting prices based on what
the customer is willing to pay.
◉Competition-Oriented Pricing. Answer: prices are set on the basis
of what competitors charge.
◉prestige pricing. Answer: setting a high price so that quality or
status conscious consumers will be attracted to the product and buy
it
◉price lining. Answer: setting a few price levels for a product line
and then marking all items at these prices
◉STAGES OF PRODUCT LIFE STYLE. Answer: introduction, growth,
maturity, decline
