7 MRKT EXAM QUESTIONS AND CORRECT ANSWERS 100% VERIFIED
In the United States alone, $12 billion of products and services are traded every year
without any money changing hands in a practice referred to as - ANSWER barter
Apple offered its iPhone 11 for $699, under the presumption that consumers view the
smartphone as priced at "something over $600" rather than "about $700." This is an
application of what pricing strategy? - ANSWER odd-even pricing
Which of the following would be an example of a variable cost for a hotel such as the
Marriott Marquis Hotel, with its upscale clientele? - ANSWER cleaning supplies and
housekeeping wages
Profit, as calculated from the profit equation, can be hard to predict because the
________ varies with the chosen price and can impact the variable costs through
production efficiencies. - ANSWER quantity sold
Supermarkets like Kroger and Safeway often employ markup pricing, which is based on
a ________ pricing method. - ANSWER cost-oriented
In the coronavirus pandemic year of 2020, demand for frozen pizza doubled with no
price increases for the products. This is what economists term - ANSWER a shift in the
demand curve.
Procter & Gamble Pampers and Kimberly-Clark Huggies lowered the U.S. prices for
disposable baby diapers to compete with one another as the U.S. birthrate continued its
downward trend. Each firm had a ________ goal. - ANSWER a shift in the demand curve.
Procter & Gamble (Pampers) and Kimberly-Clark (Huggies) reduced their U.S. prices for
disposable baby diapers to compete with one another amidst the continuing decline in
the U.S. birthrate. Each company had a ________ objective. - ANSWER market share
In the United States alone, $12 billion of products and services are traded every year
without any money changing hands in a practice referred to as - ANSWER barter
Apple offered its iPhone 11 for $699, under the presumption that consumers view the
smartphone as priced at "something over $600" rather than "about $700." This is an
application of what pricing strategy? - ANSWER odd-even pricing
Which of the following would be an example of a variable cost for a hotel such as the
Marriott Marquis Hotel, with its upscale clientele? - ANSWER cleaning supplies and
housekeeping wages
Profit, as calculated from the profit equation, can be hard to predict because the
________ varies with the chosen price and can impact the variable costs through
production efficiencies. - ANSWER quantity sold
Supermarkets like Kroger and Safeway often employ markup pricing, which is based on
a ________ pricing method. - ANSWER cost-oriented
In the coronavirus pandemic year of 2020, demand for frozen pizza doubled with no
price increases for the products. This is what economists term - ANSWER a shift in the
demand curve.
Procter & Gamble Pampers and Kimberly-Clark Huggies lowered the U.S. prices for
disposable baby diapers to compete with one another as the U.S. birthrate continued its
downward trend. Each firm had a ________ goal. - ANSWER a shift in the demand curve.
Procter & Gamble (Pampers) and Kimberly-Clark (Huggies) reduced their U.S. prices for
disposable baby diapers to compete with one another amidst the continuing decline in
the U.S. birthrate. Each company had a ________ objective. - ANSWER market share
