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VR: L1 Vocab

Quiz by Caroline Fosbenner

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7 questions
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  • Q1
    The price the store pays to purchase a product from a supplier.
    profit
    cost
    margin
    revenue
    30s
  • Q2
    The difference between the purchase price and the sale price.
    margin
    profit
    cost
    revenue
    30s
  • Q3
    Total dollar sales over some period of time.
    margin
    profit
    revenue
    cost
    30s
  • Q4
    Revenue minus expenses.
    revenue
    margin
    profit
    cost
    30s
  • Q5
    Setting prices based on cost.
    cost-oriented pricing
    competition-oriented pricing
    demand-oriented pricing
    skim pricing
    30s
  • Q6
    Setting prices based on what the customer is willing to pay.
    loss leader pricing
    demand-oriented pricing
    competition-oriented pricing
    cost-oriented pricing
    30s
  • Q7
    Setting prices based on competitor's prices.
    cost-oriented pricing
    demand-oriented pricing
    competition-oriented pricing
    quality pricing
    30s

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