Mkt Mgmt Chapter 5 Midterm Questions Database--10-10-06

Mkt Mgmt Chapter 5 Midterm Questions Database--10-10-06 -...

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Name: __________________________ Date: _____________ 1. "Discretionary income:" A) is a family's income AFTER taxes. B) is a measure of a family's total purchasing power. C) is the amount of income spent on durable goods. D) is a family's income AFTER paying taxes and paying for necessities. E) both B and C are true. 2. A young working couple earned $50,000 last year. Of that, they paid $16,000 in taxes and $15,000 in rent, food, insurance and other necessities. Their discretionary income for the year was: A) $35,000. B) $50,000. C) $19,000. D) $34,000. E) $15,000. 3. The median family income in the U.S. in 2001 was about: A) $21,000 B) $31,000 C) $51,000 D) $71,000 E) $91,000 4. The 20 percent of U.S. families with the highest incomes receive: A) about the same total income as the next highest 20 percent. B) about twice as much income, on average, as the lowest 20 percent group. C) almost 80 percent of the total income D) almost 50 percent of the total U.S. income. E) only about 20 percent of the total U.S. income. 5. The percentage of families with incomes of $62,500 and over in 2001 was: A) About 60 percent B) About 40 percent C) About 20 percent D) 10-15 percent E) Less than 5 percent 6. Which of the following is NOT an economic need? A) Dependability in use B) Hunger C) Economy of use D) Convenience E) Efficiency in use Page 1
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7. Which of the following is NOT a psychological variable? A) culture. B) personality. C) learning. D) perception. E) attitudes. 8. Marci Bello is status-oriented. When she buys clothing she only considers items with well-known "labels" that her friends will notice. This behavior illustrates A) satisfying a need. B) satisfying a want. C) satisfying a belief. D) the "economic buyer" model of buyer behavior. E) All of the above are equally good answers. 9. When a consumer actually purchases a particular product it is the direct result of a A) need. B) want. C) drive. D) desire for physical well-being. E) None of the above is more true than the others. 10. According to the "hierarchy of needs" model, the first needs most people try to satisfy are their ______________ needs. A) Safety B) Personal C) Physiological D) Social E) any of the above 11. Ranked from lowest level to highest level, the "hierarchy of needs" model includes: A) personal, social, safety, and physiological needs. B) physiological, safety, social, and personal needs. C) safety, personal, social, and physiological needs. D) social, personal, safety, and physiological needs. E)
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Mkt Mgmt Chapter 5 Midterm Questions Database--10-10-06 -...

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