Question 1

Equality,a core American value that strongly influences the attitudes and lifestyles of people,means that:

Accepted Answer

A)   no one should expect to be treated differently from anybody else.
B)   hard work,dedication to family,and frugality are moral and right.
C)   success comes to anyone who gets an education,works hard,and plays by the rules.
D)   every person should stand on his or her own two feet.E) A) and B)
F) All of the above

Question 2

Which statement about the Great Recession of 2007-2009 is true?

Accepted Answer

A)   Tweens were the most affected population group.
B)   Inflation rates increased to almost 10 percent.
C)   It began with the collapse of inflated housing prices.
D)   It increased employment opportunities in the United States.E) A) and D)
F) C) and D)

Question 3

The population group born between 1965 and 1978,who value education and knowledge,and who tend to do significant research before making a major purchase is known as:

Accepted Answer

A)   Millennials.
B)   Gen Xers.
C)   tweens.
D)   Baby Boomers.E) A) and B)
F) B) and C)

Question 4

Business firms can stimulate innovation by:

Accepted Answer

A)   hiring employees who have a low tolerance for risk.
B)   letting employees know that they have the freedom to fail.
C)   using micromanagement techniques.
D)   talking to late adopters.E) A) and B)
F) All of the above

Question 5

A person's values determine what is important and not important,which actions to take or not to take,and how one behaves in social situations.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following comprise(s) the competitive environment of a firm?

Accepted Answer

A)   The number of competitors present in the market
B)   The relative size of the competitors
C)   The degree of interdependence within the industry
D)   All of theseE) All of the above
F) C) and D)

Question 7

People born between 1979 and 1994 and who comprise the largest group in America's workforce are known as

Accepted Answer

A)   Millennials.
B)   Gen Xers.
C)   tweens.
D)   teens.E) All of the above
F) A) and C)

Question 8

Which of the following statements is true of the incomes of Baby Boomers in the United States?

Accepted Answer

A)   Baby Boomers accumulated little amount of savings over their working years.
B)   Baby Boomers' purchasing power is discretionary and guided by their parents.
C)   Baby Boomers' current incomes are relatively low because many have retired.
D)   Baby Boomers' does not get retired at their specific retirement ages.E) A) and B)
F) A) and C)

Question 9

Which of the following is an American value?

Accepted Answer

A)   Self-sufficiency
B)   Upward mobility
C)   Achievement orientation
D)   All of theseE) None of the above
F) All of the above

Question 10

Which of the following statements is true of Gen Xers?

Accepted Answer

A)   They graduated from college during the Great Recession and had difficulty in finding good jobs.
B)   They are currently in two different stages of the life cycle.
C)   They have acquired a disproportionate amount of spending power.
D)   They have very low spending power because of a lack of a stable source of income.E) A) and B)
F) A) and C)

Question 11

During a period of low inflation,there is nothing businesses can do to increase their profit margins.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is true of the FTC's Bureau of Consumer Protection?

Accepted Answer

A)   It aims at preventing fraud and unfair business practices in the marketplace.
B)   The bureau enforces federal laws that protect consumers.
C)   It empowers consumers with free information to help them exercise their rights and to spot and avoid fraud and deception.
D)   All of these are correct.E) C) and D)
F) B) and C)

Question 13

Identify the core values that have strongly influenced American attitudes and lifestyles and how they influence U.S.consumers' buying habits.

Accepted Answer

The core values that have strongly influ...

Question 14

When income is high in comparison to the cost of living,people have more discretionary income.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements is true about the trends prevalent among the various ethnicities in U.S.ethnic markets?

Accepted Answer

A)   African Americans do not consider cultural/ethnic heritage as a critical part of their identity.
B)   Hispanics of older generations are more likely to be bilingual than Hispanic Millennials.
C)   Asian Americans retain strong core values even if they embrace American values.
D)   Asian Americans are less educated than any other minority group.E) All of the above
F) A) and B)

Question 16

Jack,a Hispanic Millennial,completed his bachelor's degree in the year 2017 and is looking forward to having a successful career.Which of the following behaviors is Jack most likely to be associated with?

Accepted Answer

A)   Jack favors Spanish media over English media.
B)   Jack embraces parts of his original culture.
C)   Jack is not prone to accept future family obligations and the difficulties of supporting parents and grandparents.
D)   Jack is most likely to be monolingual.E) C) and D)
F) B) and C)

Question 17

Which federal agency reviews mergers and acquisitions,and challenges those that would likely lead to higher prices,fewer choices,or less innovation?

Accepted Answer

A)   The Bureau of Competition
B)   Consumer Product Safety Commission (CPS
C)  
C)   Food and Drug Administration (FD
A)  
D)   The Food and Drug Administration (FD
A)  E) B) and D)
F) C) and D)

Question 18

Which term refers to a comparison of income versus the relative cost of a standard set of goods and services in different geographic areas?

Accepted Answer

A)   Purchasing power
B)   Inflation
C)   Recession
D)   Personal incomeE) None of the above
F) All of the above

Question 19

Alex purchased a battery-operated drill.Due to a manufacturing defect,the drill overheated and exploded when he used it for the first time.Alex lodged a complaint against the firm that manufactured the drill with the Consumer Product Safety Commission (CPSC) .Given the situation,which of the following is most likely to happen?

Accepted Answer

A)   The CPSC can fine the offending firm up to $500,000.
B)   The CPSC will reduce the prices of the drills of the offending firm in the market.
C)   The CPSC will introduce changes to the drills of the offending firm in the market.
D)   The CPSC has no power to sentence the officers involved in the case.E) A) and B)
F) All of the above

Question 20

In terms of consumers' incomes,a nondegree holder will earn more than twice the total income as a degree holder over a lifetime.

Accepted Answer

A) True 
 B)False

Exam 4: The Marketing Environment

Which statement about the Great Recession of 2007-2009 is true?

Correct Answer
verified

Which of the following comprise(s) the competitive environment of a firm?

Correct Answer
verified

In terms of consumers' incomes,a nondegree holder will earn more than twice the total income as a degree holder over a lifetime.

Correct Answer
verified

Which of the following statements is true about the trends prevalent among the various ethnicities in U.S.ethnic markets?

Correct Answer
verified

People born between 1979 and 1994 and who comprise the largest group in America's workforce are known as

Correct Answer
verified

Correct Answer
verified

Which of the following is true of the FTC's Bureau of Consumer Protection?

Correct Answer
verified

Jack,a Hispanic Millennial,completed his bachelor's degree in the year 2017 and is looking forward to having a successful career.Which of the following behaviors is Jack most likely to be associated with?

Correct Answer
verified

During a period of low inflation,there is nothing businesses can do to increase their profit margins.

Correct Answer
verified

Which of the following statements is true of the incomes of Baby Boomers in the United States?

Correct Answer
verified

When income is high in comparison to the cost of living,people have more discretionary income.

Correct Answer
verified

Identify the core values that have strongly influenced American attitudes and lifestyles and how they influence U.S.consumers' buying habits.

Correct Answer
verified
The core values that have strongly influ...
View Answer

Which of the following statements is true of Gen Xers?

Correct Answer
verified

Business firms can stimulate innovation by:

Correct Answer
verified

Which term refers to a comparison of income versus the relative cost of a standard set of goods and services in different geographic areas?

Correct Answer
verified

Equality,a core American value that strongly influences the attitudes and lifestyles of people,means that:

Correct Answer
verified

Which of the following is an American value?

Correct Answer
verified

The population group born between 1965 and 1978,who value education and knowledge,and who tend to do significant research before making a major purchase is known as:

Correct Answer
verified

Which federal agency reviews mergers and acquisitions,and challenges those that would likely lead to higher prices,fewer choices,or less innovation?

Correct Answer
verified

A person's values determine what is important and not important,which actions to take or not to take,and how one behaves in social situations.

Correct Answer
verified

Exam 4: The Marketing Environment

Which statement about the Great Recession of 2007-2009 is true?

Correct AnswerverifiedShow Answer

Which of the following comprise(s) the competitive environment of a firm?

Correct AnswerverifiedShow Answer

In terms of consumers' incomes,a nondegree holder will earn more than twice the total income as a degree holder over a lifetime.

Correct AnswerverifiedShow Answer

Which of the following statements is true about the trends prevalent among the various ethnicities in U.S.ethnic markets?

Correct AnswerverifiedShow Answer

People born between 1979 and 1994 and who comprise the largest group in America's workforce are known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is true of the FTC's Bureau of Consumer Protection?

Correct AnswerverifiedShow Answer

Jack,a Hispanic Millennial,completed his bachelor's degree in the year 2017 and is looking forward to having a successful career.Which of the following behaviors is Jack most likely to be associated with?

Correct AnswerverifiedShow Answer

During a period of low inflation,there is nothing businesses can do to increase their profit margins.

Correct AnswerverifiedShow Answer

Which of the following statements is true of the incomes of Baby Boomers in the United States?

Correct AnswerverifiedShow Answer

When income is high in comparison to the cost of living,people have more discretionary income.

Correct AnswerverifiedShow Answer

Identify the core values that have strongly influenced American attitudes and lifestyles and how they influence U.S.consumers' buying habits.

Correct AnswerverifiedThe core values that have strongly influ...View AnswerShow Answer

Which of the following statements is true of Gen Xers?

Correct AnswerverifiedShow Answer

Business firms can stimulate innovation by:

Correct AnswerverifiedShow Answer

Which term refers to a comparison of income versus the relative cost of a standard set of goods and services in different geographic areas?

Correct AnswerverifiedShow Answer

Equality,a core American value that strongly influences the attitudes and lifestyles of people,means that:

Correct AnswerverifiedShow Answer

Which of the following is an American value?

Correct AnswerverifiedShow Answer

The population group born between 1965 and 1978,who value education and knowledge,and who tend to do significant research before making a major purchase is known as:

Correct AnswerverifiedShow Answer

Which federal agency reviews mergers and acquisitions,and challenges those that would likely lead to higher prices,fewer choices,or less innovation?

Correct AnswerverifiedShow Answer

A person's values determine what is important and not important,which actions to take or not to take,and how one behaves in social situations.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The core values that have strongly influ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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