Pricing and Marketing Math QUIZ

Karlie is considering how much to charge for her small business’s products. Karlie is involved in ___.

What might happen if a business’s customers feel that they are not getting the most value for their money?

A widget costs $4.83 to produce. The seller marks all products up by 45%. What is the sale price for one widget?

With what do many customers associate price?

A downturn in the economy has forced a home builder to lower its prices. This company has ___ prices.

A gas station across the street is offering gasoline for five cents cheaper per gallon. The other stations in the area decide to lower their prices as well. This is an example of __________ pricing.

In which of the following businesses is the business owner usually responsible for setting prices:

Which of the following is a product factor that sandwich shops consider when deciding on the price to charge for menu items:

When companies increase the quality of materials used in the production of their products, their prices will tend to be ___.

A company decides to save money by shipping its products by truck instead of by plane. Which marketing mix element is pricing influencing in this example?

___ pricing is the practice of marking up items at 100% of their cost.

When Mariah sets prices for her company, she strives to maximize profit, which is considered a(n) ___.

Which of the following must a business accomplish through selling price:

The selling prices of products help customers to ___.

Peter and Diana went to the ice cream store. They each bought an ice cream cone for $3.42. If they gave the cashier a $10 bill, how much change will they get back?