1. Excess demand occurs …

a) when, at a particular market price, the quantity that suppliers want to provide to the market is less than the quantity that demanders want to purchase.

b) a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

c) the process of pricing, when the seller first determines the total cost of producing one unit of the product and then adds an amount to cover additional cost and profit.

2. resale is…

a) a written assurance that some product or service will be provided or will meet certain specifications.

b) a charge we pay others to make for us.

c) the selling of something purchased.

3. terminal market is …

a) choosing a target market and formulating the most appropriate promotion mix to influence it.

b) person who practices advertising, branding, direct marketing, sales, sales promotion and online marketing.

c) are the markets dealing mainly with commodities that will be available in the future rather than goods that are available immediately.

4. laggards are….

a) the ability and desire to purchase goods and services.

b) the last group of people to buy a product or brand: indeed they may never buy it.

c) the aggregation of things coming and going in a particular locality.

5. innovator is ….

a) a person, who creates something new and start a new trend.

b) choosing a target market and formulating the most appropriate promotion mix to influence it.

c) the performance of business activities that direct the flow of goods and services from producer to consumer.

6. stock market is …

a) the means of informing people about the product or service.

b) the market where stocks and shares are bought and sold under fixed rules, but at prices controlled by supply and demand.

c) the process which involves the warehousing of goods until they are needed for sale.

7. excess supply occurs …

a) when, at a particular market price, the quantity that suppliers want to provide to the market exceeds the quantity that demanders want to purchase.

b) the performance of business activities that direct the flow of goods and services from producer to consumer.

c) the identification of portions of the market that are different from one another.

8. market targeting is ….

a) the function of money, when money is used to intermediate the exchange of goods and services.

b) selling or related to selling goods in large quantities for resale to the consumer.

c) the process by which an organization decides which market segments to serve.

9. relative price is ….

a) the only price at which the interests of demanders happen to coincide precisely with the interests of the suppliers. At any other relative price, the interests of suppliers and demanders do not coincide.

b) the stages of which are introduction, growth, maturity and decline.

c) means of communication or access.

10. customer profile is …..

a) the process which involves the physical movement of the product from the seller to the buyer.

b) is the process by which two or more parties trade things of value, so that each party feels it better off after the trade.

c) the image of a typical consumer.

11) foreign exchange market is ….

a) the market where foreign currencies are traded.

b) the process by which two or more parties trade things of value, so that each party feels it better off after the trade.

c) a system through which funds are moved electronically from one account to another and from one bank to another.

12. late majority is ….

a) group of people, which follows the trends that have been tested by the early majority.

b) a piece of metal, usually disc-shaped, which bears lettering, designs or numbers showing its value.

c) what a company produces/makes or offers.

13. commodity market is ….

a) the process when people hold money.

b) the place where raw materials and some manufactured goods are bought and sold for immediate or future delivery.

c) the marketing of goods and services from one business to another.

UNIT 7

“Without a clear goal, you may be running

a well-managed bankruptcy”

(L.Carrol. January, 27 1832 – January, 14 1898

English author and mathematician)