Question 1

A(n) _____ designates the maximum quantity of a product that may be brought into a country during a specified time period.

Options :

A : exchange control

B : embargo

C : tariff

D : quota

E : trade agreement

Answer: D

Question 2

Mars Clothing offers a ""buy one, get one free"" offer on select clothing items and a 20 percent discount on all perfumes. These type of offers are known as a(n)

Options :

A : premiums

B : samplings

C : coupons

D : deals

E : sweepstakes

Answer: D

Question 3

The profit earned by a product is at its lowest during the _____ stage of the product life cycle.

Options :

A : introduction

B : maturity

C : growth

D : accelerated development

E : decline

Answer: A

Question 4

Which of the following is an example of impulse buying?

Options :

A : Ryan purchased a suit for his wedding after consulting a tailor.

B : While grocery shopping Sean picked up a pack of bubble-gum from the checkout counter.

C : Jim conducted a thorough Internet search before buying a new car.

D : Lily picked up a burger from a drive in restaurant on the way home.

E : Jordan purchased a mobile phone after being convinced by a sales presentation.

Answer: B

Question 5

_____ pertains to a customer’s perception of the benefits he or she received compared with the costs.

Options :

A : Distributive fairness

B : Procedural fairness

C : Qualitative fairness

D : Extent of responsiveness

E : Extent of reliability

Answer: A

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