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CLEP Exam questions and Verified
Answers | 2025 Edition with
Frequently Seen Topics | Pre-Graded
for Your Review | High Pass Rate
Guarantee
Micro-macro dilemma - ANSWER-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 - ANSWER-to serve as a rough measure of the value of
resources used to produce goods and services
marketing - ANSWER-attempts to affect the products and services you buy
marketing - ANSWER-applies to nonprofit organizations
advertising and sales promotion - ANSWER-marketing functions
marketing - ANSWER-can affect prices you will pay for a product
marketing - ANSWER-includes decisions about how to sell products
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pure subsistence economy - ANSWER-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 - ANSWER-taxes on imported products; legal as long as all regulations are followed
production - ANSWER-involves actually making the product
examples of marketing functions - ANSWER-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 - ANSWER-looks at the marketing function in relation to society as a whole
micro-marketing - ANSWER-looks at activities of individual organizations
sales era - ANSWER-emphasis on selling more parts and outselling the competition
production era - ANSWER-focused on the production of products
marketing company era - ANSWER-a time when companies embraced the marketing concept
simple trade era - ANSWER-when middlemen were introduced in the early role of marketing involving
simple distribution
marketing department era - ANSWER-tied various marketing efforts together under one department
CLEP Exam questions and Verified
Answers | 2025 Edition with
Frequently Seen Topics | Pre-Graded
for Your Review | High Pass Rate
Guarantee
Micro-macro dilemma - ANSWER-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 - ANSWER-to serve as a rough measure of the value of
resources used to produce goods and services
marketing - ANSWER-attempts to affect the products and services you buy
marketing - ANSWER-applies to nonprofit organizations
advertising and sales promotion - ANSWER-marketing functions
marketing - ANSWER-can affect prices you will pay for a product
marketing - ANSWER-includes decisions about how to sell products
, 2|Page
pure subsistence economy - ANSWER-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 - ANSWER-taxes on imported products; legal as long as all regulations are followed
production - ANSWER-involves actually making the product
examples of marketing functions - ANSWER-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 - ANSWER-looks at the marketing function in relation to society as a whole
micro-marketing - ANSWER-looks at activities of individual organizations
sales era - ANSWER-emphasis on selling more parts and outselling the competition
production era - ANSWER-focused on the production of products
marketing company era - ANSWER-a time when companies embraced the marketing concept
simple trade era - ANSWER-when middlemen were introduced in the early role of marketing involving
simple distribution
marketing department era - ANSWER-tied various marketing efforts together under one department
