Pricing Post-Assessment

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

• pricing.

• promotion.

• a place decision.

• a product decision.

What might happen if Maya's customers feel that they are not getting the most value for their money?

• Sales increase.

• Customers spend money elsewhere.

• Customers purchase more.

• Sales remain the same.

Due to a downturn in the economy, James, a home builder, has been forced to lower his prices. James has __________ prices.

• realistic

• flexible

• competitive

• inflexible

Daniel noticed that a 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.

• inflexible

• unrealistic

• competitive

• realistic

When Benjamin's company increases the quality of materials used in the production of their products, their prices will tend to be ________.

• reduced

• the same

• higher

• lower

Benjamin is shopping for a new laptop. He notices that the basic advertised price, which is often subject to discount, is listed. What is this price called?

• list price

• seasonal discount

• sale price

• cash discount

When does Liam's lemonade stand begin to make a profit?

• When profit margins decline

• When supply and demand are at equilibrium

• When consumers begin purchasing products

• When the break even point is reached

Michael went to the store and noticed that the unit price is the price of ___ item.

Ellie made $45 babysitting for 6 hours. How much does she make per hour?

• $45 per hour

• $7.50 per hour

• $2.70 per hour

• $6.70 per hour

Maya noticed that when people in her neighborhood received a bonus, they bought more of her homemade cookies. What is the impact to demand if there is an increase of income of the buyers?

• Increase

• Decrease