Chapter11 exercise for multiple choice and true or false

Chapter11 exercise for multiple choice and true or false -...

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Chapter 11 Pricing Considerations and Approaches Multiple Choice 1. The price of an executive is a _____, the price of a salesperson is a _____, and the price of a worker is a _____. a. commission; wage; salary b. wage; commission; salary c. salary; wage; commission d. salary; commission; wage (d; Easy) 2. Price is the only element in the marketing mix that produces _____. a. revenue b. variable costs c. expenses d. fixed costs (a; Easy) 3. Firms set prices as low as possible in order to become the _____. a. product quality leader b. market share leader c. customer quality leader d. profit maximization leader (b; Easy) 4. Which of the following pricing objectives is most used by a university? a. partial cost recovery b. full cost recovery c. social price d. cost-plus pricing (a; Easy) 5. Which of the following is an external factor that affects pricing decisions? a. the salaries of production management b. competition c. the salaries of finance management d. funds expensed to clean production equipment (b; Easy)
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6. Under _____, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities. a. pure competition b. monopolistic competition c. oligopolistic competition d. pure monopoly (a; Easy) 7. Under _____, the market consists of a few sellers who are highly sensitive to each other’s pricing and marketing strategies. a.
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Chapter11 exercise for multiple choice and true or false -...

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