CLEP Exam - practice tests UPDATED
Study Guide QUESTIONS AND
CORRECT ANSWERS
Micro-macro dilemma - CORRECT ANSWERS what is good for some
producers may not be good for society as a whole (the society as a whole piece
is key)
role of price in a market-directed economy - CORRECT ANSWERS to
serve as a rough measure of the value of resources used to produce goods and
services
marketing - CORRECT ANSWERS attempts to affect the products and
services you buy
marketing - CORRECT ANSWERS applies to nonprofit organizations
advertising and sales promotion - CORRECT ANSWERS marketing
functions
marketing - CORRECT ANSWERS can affect prices you will pay for a
product
marketing - CORRECT ANSWERS includes decisions about how to sell
products
pure subsistence economy - CORRECT ANSWERS family units make
all the products they consume; no marketing takes place because marketing
doesn't occur unless two or more parties are willing to exchange something for
something else
, tariffs - CORRECT ANSWERS taxes on imported products; legal as long
as all regulations are followed
production - CORRECT ANSWERS involves actually making the
product
examples of marketing functions - CORRECT ANSWERS predicting the
types of cars different people will buy, determining the features of the car,
selling the car, and developing a sales promotion campaign for the car
macro-marketing - CORRECT ANSWERS looks at the marketing
function in relation to society as a whole
micro-marketing - CORRECT ANSWERS looks at activities of
individual organizations
sales era - CORRECT ANSWERS emphasis on selling more parts and
outselling the competition
production era - CORRECT ANSWERS focused on the production of
products
marketing company era - CORRECT ANSWERS a time when
companies embraced the marketing concept
simple trade era - CORRECT ANSWERS when middlemen were
introduced in the early role of marketing involving simple distribution
Study Guide QUESTIONS AND
CORRECT ANSWERS
Micro-macro dilemma - CORRECT ANSWERS what is good for some
producers may not be good for society as a whole (the society as a whole piece
is key)
role of price in a market-directed economy - CORRECT ANSWERS to
serve as a rough measure of the value of resources used to produce goods and
services
marketing - CORRECT ANSWERS attempts to affect the products and
services you buy
marketing - CORRECT ANSWERS applies to nonprofit organizations
advertising and sales promotion - CORRECT ANSWERS marketing
functions
marketing - CORRECT ANSWERS can affect prices you will pay for a
product
marketing - CORRECT ANSWERS includes decisions about how to sell
products
pure subsistence economy - CORRECT ANSWERS family units make
all the products they consume; no marketing takes place because marketing
doesn't occur unless two or more parties are willing to exchange something for
something else
, tariffs - CORRECT ANSWERS taxes on imported products; legal as long
as all regulations are followed
production - CORRECT ANSWERS involves actually making the
product
examples of marketing functions - CORRECT ANSWERS predicting the
types of cars different people will buy, determining the features of the car,
selling the car, and developing a sales promotion campaign for the car
macro-marketing - CORRECT ANSWERS looks at the marketing
function in relation to society as a whole
micro-marketing - CORRECT ANSWERS looks at activities of
individual organizations
sales era - CORRECT ANSWERS emphasis on selling more parts and
outselling the competition
production era - CORRECT ANSWERS focused on the production of
products
marketing company era - CORRECT ANSWERS a time when
companies embraced the marketing concept
simple trade era - CORRECT ANSWERS when middlemen were
introduced in the early role of marketing involving simple distribution
