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BUS/402 BUS402 BUS 402 WEEK 7 QUIZ


BUS 402 WEEK 7 QUIZ • Question 1 Absorption costing: • Question 2 When pricing products, it is important to remember that: • Question 3 ________ costing includes only those costs that vary directly with the volume of an item produced. • Question 4 ________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics. • Question 5 When a small business owner doesn’t want to make a pricing decision, he/she can use a(n) ________ pricing strategy. • Question 6 When a small business is faced with price competition from a much larger competitor, it should consider: • Question 7 ________ is a pricing strategy under which local customers “subsidize” the shipping charges the firm incurs when transporting merchandise to distant customers. • Question 8 The final price set by the entrepreneur for the products depends on: • Question 9 The most commonly used pricing technique for manufacturers is: • Question 10 A customer who purchases a television from Ace Appliance Store and pays for it in 36 monthly payments is using: • Question 11 Even in the short run, a small business must set the price of a product at least equal to the ________ costs (per unit), or it must shut down. • Question 12 Which of the following is correct? • Question 13 Most service firms base their prices on: • Question 14 When developing a marketing approach to pricing, business owners must: • Question 15 A common “me-too” pricing policy by which the small business owner establishes his/her prices by monitoring competitor’s prices and then matching them is called: • Question 16 A relatively easy way of getting into international marketing, which currently handles about 10% of all U.S. exports, is through ________ who act as distributors in foreign countries for domestic companies of all sizes. • Question 17 The tax that a government puts on products that are imported into a country is called a(n): • Question 18 The reality of “going global” is that the entrepreneur must understand the needs of the: • Question 19 ________ is said to link trading partners, whether they are giant corporations or single individuals with a small business. • Question 20 Foreign licensing has its greatest potential in the licensing of: • Question 21 Small businesses go global: • Question 22 An entrepreneur wants to move into international markets but can’t quite figure out how to do it. He’s not clear on his target market or how to approach it but he knows he needs to “go global.” This entrepreneur is experiencing which barrier to international trade? • Question 23 ________ is the primary market for U.S. franchisers. • Question 24 When collecting for the sale of foreign goods, a small business will use a ________, an agreement between their bank and the foreign buyer’s bank that guarantees payment. • Question 25 The type of companies that are an important channel of foreign distribution for small companies just getting started in international trade or for those lacking the resources to assign their own people to foreign markets are referred to as: • Question 26 ________ involves a transaction in which a company selling goods in a foreign country agrees to promote investment and trade in that country. • Question 27 The first step to becoming a truly global company is to: • Question 28 The simplest and l