CLEP Exam - practice test questions &
answers11
Micro-macro dilemma - 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 - ANSWERS-to serve as a rough measure of the value
of resources used to produce goods and services
marketing - ANSWERS-attempts to affect the products and services you buy
marketing - ANSWERS-applies to nonprofit organizations
advertising and sales promotion - ANSWERS-marketing functions
marketing - ANSWERS-can affect prices you will pay for a product
marketing - ANSWERS-includes decisions about how to sell products
pure subsistence economy - 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 - ANSWERS-taxes on imported products; legal as long as all regulations are followed
production - ANSWERS-involves actually making the product
, examples of marketing functions - 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 - ANSWERS-looks at the marketing function in relation to society as a whole
micro-marketing - ANSWERS-looks at activities of individual organizations
sales era - ANSWERS-emphasis on selling more parts and outselling the competition
production era - ANSWERS-focused on the production of products
marketing company era - ANSWERS-a time when companies embraced the marketing concept
simple trade era - ANSWERS-when middlemen were introduced in the early role of marketing
involving simple distribution
marketing department era - ANSWERS-tied various marketing efforts together under one
department
controllable variables a company applies to their marketing strategy - ANSWERS-product, price,
place, and promotion
why is price a rough measure of the value of resources used to produce goods and services? -
ANSWERS-because prices in a market-directed economic system vary to allocate resources and
distribute income according to consumer preferences
answers11
Micro-macro dilemma - 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 - ANSWERS-to serve as a rough measure of the value
of resources used to produce goods and services
marketing - ANSWERS-attempts to affect the products and services you buy
marketing - ANSWERS-applies to nonprofit organizations
advertising and sales promotion - ANSWERS-marketing functions
marketing - ANSWERS-can affect prices you will pay for a product
marketing - ANSWERS-includes decisions about how to sell products
pure subsistence economy - 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 - ANSWERS-taxes on imported products; legal as long as all regulations are followed
production - ANSWERS-involves actually making the product
, examples of marketing functions - 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 - ANSWERS-looks at the marketing function in relation to society as a whole
micro-marketing - ANSWERS-looks at activities of individual organizations
sales era - ANSWERS-emphasis on selling more parts and outselling the competition
production era - ANSWERS-focused on the production of products
marketing company era - ANSWERS-a time when companies embraced the marketing concept
simple trade era - ANSWERS-when middlemen were introduced in the early role of marketing
involving simple distribution
marketing department era - ANSWERS-tied various marketing efforts together under one
department
controllable variables a company applies to their marketing strategy - ANSWERS-product, price,
place, and promotion
why is price a rough measure of the value of resources used to produce goods and services? -
ANSWERS-because prices in a market-directed economic system vary to allocate resources and
distribute income according to consumer preferences
