Question 1

All of the following are economic indicators except which?

Accepted Answer

A)  inflation
B)  barriers to entry
C)  unemployment
D)  GDP
E)  deflationF) C) and D)
G) All of the above

Question 2

The Lanham Act

Accepted Answer

A)  prevents someone from using a trademark on a noncompeting product.
B)  protects the consumer from product defects.
C)  provides for registration of a company's trademarks.
D)  allows a company to secure rights to a name before its actual use.
E)  facilitates the protection of U.S.trademark rights throughout the world.F) D) and E)
G) B) and C)

Question 3

The purpose of the Clayton Act is to

Accepted Answer

A)  provide incentives for interstate commerce.
B)  forbid actions that are likely to lessen competition,although no actual harm has yet occurred.
C)  exact compensation from firms found guilty of violating fair trade practices.
D)  repeal provisions of the Sherman Antitrust Act that stifled innovation.
E)  strengthen the Robinson-Patman Act.F) A) and D)
G) B) and D)

Question 4

The ________ provides for registration of a company's trademark,such as the Nike swoosh.

Accepted Answer

A)  Lanham Act
B)  Patent Act
C)  Clayton Act
D)  Sherman Antitrust Act
E)  Miller-Tydings ActF) A) and D)
G) D) and E)

Question 5

Discretionary income refers to

Accepted Answer

A)  the money deducted from a person's paycheck to pay for federal,state,and local taxes.
B)  the total amount of money made by a single individual during his or her lifetime.
C)  the money a consumer has left after paying taxes to use for necessities such as food,shelter,clothing,and transportation.
D)  the money that is spent for necessities or charitable causes that is exempt from taxation.
E)  the money that remains after paying for taxes and necessities.F) C) and E)
G) A) and B)

Question 6

The social forces in the environment include the ________ of the population and its culture.

Accepted Answer

A)  living standards
B)  social classes
C)  cohorts
D)  ethics
E)  demographic characteristicsF) None of the above
G) C) and D)

Question 7

Over the past 30 years in the United States,the attitudes of men and women have changed.One factor has been the

Accepted Answer

A)  way women were portrayed in the movies and on television.
B)  Internet,which made gender,race,and ethnicity invisible in the marketplace.
C)  decreased participation of women in the workforce that has made employers less open-minded.
D)  failure of political activists to advocate the power of women.
E)  economic shift that resulted in the courting of women to increase the overall gross domestic product of the United States.F) A) and C)
G) C) and E)

Question 8

The most recent economic recession occurred when?

Accepted Answer

A)  1981-1982
B)  1989-1990
C)  1998-1999
D)  2007-2009
E)  2010-2013F) None of the above
G) A) and B)

Question 9

Baby boomers can be defined as the generation born

Accepted Answer

A)  between 1918 and 1945.
B)  between 1946 and 1964.
C)  between 1965 and 1976.
D)  between 1977 and 1994.
E)  since 1995.F) B) and D)
G) A) and B)

Question 10

The change in the growth of the world's population is called the

Accepted Answer

A)  population contraction.
B)  population inversion.
C)  population migration.
D)  population explosion.
E)  population eruption.F) A) and B)
G) All of the above

Question 11

Studies of the ________ characteristics of the U.S.population suggest that it is becoming larger,older,and more diverse.

Accepted Answer

A)  cultural
B)  psychographic
C)  geographic
D)  demographic
E)  economicF) D) and E)
G) None of the above

Question 12

According to the text,________ recently introduced a "connected" refrigerator that can track food expiration dates and respond to voice commands.

Accepted Answer

A)  Google
B)  Samsung
C)  LG
D)  Jenn Air
E)  KitchenAidF) A) and B)
G) A) and C)

Question 13

Agribusinesses that sell commodity products such as wheat,rice,and corn are often in a(n) ________ position with their competitors.

Accepted Answer

A)  limited competition
B)  pure competition
C)  oligopolistic competition
D)  monopolistic competition
E)  monopolisticF) B) and E)
G) A) and B)

Question 14

Which of the following would be identified as a social force in an environmental scan?

Accepted Answer

A)  a new consumer protection law
B)  an increase in Asian immigration
C)  an advanced technology is perfected
D)  a decrease in consumer incomes
E)  a new international firm exporting to the United StatesF) C) and D)
G) A) and B)

Question 15

Though online ________ may provide consumers with more targeted digital advertising,some are concerned about privacy issues.

Accepted Answer

A)  espionage
B)  confidentiality
C)  tracking
D)  clickbotting
E)  spammingF) A) and B)
G) A) and C)

Question 16

Business practices or conditions that make it difficult for new firms to enter the market are referred to as

Accepted Answer

A)  market obstructions.
B)  barriers to entry.
C)  switching costs.
D)  import-export firewalls.
E)  preemptive practices.F) A) and E)
G) C) and E)

Question 17

Consumerism refers to

Accepted Answer

A)  a movement of conspicuous consumption that began when World War II ended.
B)  conducting business in a way that protects the natural environment while making economic progress.
C)  a collaborative effort between buyers and sellers to create an exchange where each benefit.
D)  the recognition of the need for organizations to improve the state of people,the planet,and profit simultaneously if they are to achieve sustainable,long-term growth.
E)  the grassroots movement started in the 1960s to increase the influence,power,and rights of consumers in dealing with institutions.F) B) and C)
G) D) and E)

Question 18

Explain the difference(s)between the Sherman Antitrust Act,the Clayton Act,and the Robinson-Patman Act,all of which were enacted to protect competition.

Accepted Answer

The Sherman Antitrust Act (1890)was the ...

Question 19

The economy is defined as

Accepted Answer

A)  the independent financial factors that are not affected by changes in government spending.
B)  the purchase of the highest quality product for the lowest possible price.
C)  the production,distribution,and consumption of products,services,and ideas by households.
D)  the income,expenditures,and resources that affect the cost of running a business and household.
E)  the forces within a manufacturer's control that affect the demand and supply of its offerings.F) All of the above
G) A) and B)

Question 20

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Accepted Answer

A)  Lanham Act.
B)  Federal Trade Commission Act.
C)  Robinson-Patman Act.
D)  Sherman Antitrust Act.
E)  Clayton Act.F) All of the above
G) A) and C)

Exam 3: Scanning the Marketing Environment

Consumerism refers to

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The purpose of the Clayton Act is to

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The Lanham Act

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According to the text,________ recently introduced a "connected" refrigerator that can track food expiration dates and respond to voice commands.

Correct AnswerverifiedShow Answer

The change in the growth of the world's population is called the

Correct AnswerverifiedShow Answer

Explain the difference(s)between the Sherman Antitrust Act,the Clayton Act,and the Robinson-Patman Act,all of which were enacted to protect competition.

Correct AnswerverifiedThe Sherman Antitrust Act (1890)was the ...View AnswerShow Answer

Which of the following would be identified as a social force in an environmental scan?

Correct AnswerverifiedShow Answer

Over the past 30 years in the United States,the attitudes of men and women have changed.One factor has been the

Correct AnswerverifiedShow Answer

Business practices or conditions that make it difficult for new firms to enter the market are referred to as

Correct AnswerverifiedShow Answer

Agribusinesses that sell commodity products such as wheat,rice,and corn are often in a(n) ________ position with their competitors.

Correct AnswerverifiedShow Answer

Though online ________ may provide consumers with more targeted digital advertising,some are concerned about privacy issues.

Correct AnswerverifiedShow Answer

Discretionary income refers to

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Studies of the ________ characteristics of the U.S.population suggest that it is becoming larger,older,and more diverse.

Correct AnswerverifiedShow Answer

All of the following are economic indicators except which?

Correct AnswerverifiedShow Answer

The most recent economic recession occurred when?

Correct AnswerverifiedShow Answer

The economy is defined as

Correct AnswerverifiedShow Answer

The social forces in the environment include the ________ of the population and its culture.

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The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct AnswerverifiedShow Answer

Baby boomers can be defined as the generation born

Correct AnswerverifiedShow Answer

The ________ provides for registration of a company's trademark,such as the Nike swoosh.

Correct AnswerverifiedShow Answer

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The Sherman Antitrust Act (1890)was the ...
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