Which of the following statements about price is true?
A. Price and revenue are synonyms.
B. Price always equals some monetary figure.
C. Price is not necessarily based on the satisfaction consumers receive from a product.
D. High prices result in high profits.
E. All of these statements about price are true.
Answer: C
You might also like to view...
Dividing ending inventory by cost of goods sold and multiplying the result by 365 is the:
A. Days' sales in inventory. B. Profit margin. C. Inventory turnover ratio. D. Current ratio. E. Total asset turnover.
When using management by exception, which of the following variances would not affect the production manager?
A) direct materials efficiency B) variable overhead efficiency C) direct labor cost D) direct labor efficiency
Which of the following is true of international marketing research?
A. It is impossible to coordinate similar marketing research efforts under way in several countries due to language and cultural differences. B. Comparing the results of one market area to another complicates a home office manager's understanding of markets. C. It is impossible to standardize the elements of an international marketing information system. D. If a firm is well-established internationally, working with local market research firms in the countries of interest is less useful. E. Accurate data (both primary and secondary data) may be hard to find in international markets.
A letter of intent summarizes progress made during business negotiations, but more importantly, it creates a binding contract
Indicate whether the statement is true or false