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Inelastic demand simply means

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Reference no: EM131201212

Question 1. People's needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs.

ego
esteem
self-actualization
social
safety

Question 2. After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual

organization.
attention.
retention.
interpretation.
redefinition.

Question 3. Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective

exposure.
distortion.
retention.
information.
organization.

Question 4. Changes in an individual's thought processes and behavior caused by information and experience is called

learning.
attitude formation.
patronage motives.
personality.
motivation.

Question 5. Business markets are typically divided into four categories. These categories are

retailers, wholesalers, services, and nonprofit firms.
producer, manufacturer, reseller, and government.
producer, reseller, government, and institutional.
manufacturer, wholesaler, retailer, and services.
reseller, retailer, government, and institutional.

Question 6. Churches, charitable organizations, and private colleges are considered ____ buyers.

corporate
government
institutional
producer
nonprofit

Question 7. ____ is(are) a major threat to the sales success of jointly demanded products.

Price changes
Shortages
Economic instability
Inventory buildup
Proliferation of brands

Question 8. Inelastic demand simply means that

buyers will not make a modified rebuy purchase.
demand depends on how many items are purchased.
a price increase or decrease will not significantly change the demand for an item.
when price goes up, demand goes down.
when supply is reduced, the price will increase.

Question 9. The Common Market of the Southern Cone (MERCOSUR) includes countries from

Africa.
Asia.
Central America.
South America.
the Pacific Islands.

Question 10. The purchase of products from a foreign source is called

exporting.
dumping.
importing.
licensing.
venturing.

Question 11. The United States' prohibition against importing cigars from Cuba is an example of a(n)

health control.
quota.
embargo.
exchange control.
import control.

Question 12. The Grummond Group buys computer peripherals in industrialized countries and sells them to customers in developing countries. Grummond is most likely classified as a(n)

trading company.
strategic alliance.
joint venture.
licensee.
exporter.

Question 13. ____ are people who gather information and organize content generated by critics and creators.

Collectors
Spectators
Joiners
Creators
Critics

Question 14. The ability to obtain digital information is referred to as

accessibility.
addressability.
interactivity.
connectivity.
control.

Question 15. LinkedIn is a social networking site geared toward

Millennials.
teenagers.
singles.
professionals.
retired people

Question 16. The most popular video-sharing website is

Flickr.
Facebook.
YouTube.
Wikis.
QQ.

Question 17. The development of a container and graphic design for a product is called

licensing.
labeling.
preparing.
packaging.
distributing.

Question 18. The width of a product mix is measured by the number of product

dimensions in the product line.
features in each brand.
items in the product line.
lines a company offers.
specialties a company offers.

Question 19. The last group to adopt a new product, ____, is oriented toward the past and is suspicious of new products.

non-adopters
laggards
innovators
late adopters
late majority

Question 20. Sales start at zero and profits are negative during the ____ stage of the product life cycle.

decline
growth
initial
maturity
introduction

Reference no: EM131201212

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