VR: L2 Vocab
Quiz by Caroline Fosbenner
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12 questions
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- Q1The price the store pays to purchase a product from a supplier.profitcostmarginrevenue30s
- Q2The difference between the purchase price and the sale price.marginprofitcostrevenue30s
- Q3Total dollar sales over some period of time.marginprofitrevenuecost30s
- Q4Revenue minus expenses.revenuemarginprofitcost30s
- Q5Setting prices based on cost.cost-oriented pricingcompetition-oriented pricingdemand-oriented pricingskim pricing30s
- Q6Setting prices based on what the customer is willing to pay.loss leader pricingdemand-oriented pricingcompetition-oriented pricingcost-oriented pricing30s
- Q7Setting prices based on competitor's prices.cost-oriented pricingdemand-oriented pricingcompetition-oriented pricingquality pricing30s
- Q8Amount of goods a business has for resale.All of theseItemsInventoryProducts30s
- Q9Policy specifying how much and when to purchase of a product.Obtaining PolicyManagement PolicyBuying PolicyPurchasing Policy30s
- Q10New inventory is purchased automatically as sales are made.Just-in-time inventoryFirst in, first out inventorynone of theseLast in, last out inventory30s
- Q11A number that indicates when new products should be purchased.reorder datereorder pointreorder quantityreorder system30s
- Q12Money a business loses due to broken, damaged, expired or stolen inventoryshrinkageunrecoverable fundslossesnone of these30s