Holt McDougal Economics Chapter 6.2: Prices as Signals & Incentives Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What is the price against which buyers compare the sales price of the product to the actual price?

Question 2 2. What strategy consists of charging a high introductory price in tandem with heavy promotion and later slowly dropping the price?

Question 3 3. You and your sales associates are having a brainstorming session. One of the sales associates suggests that charging a low price for the company's product initially will help to capture the largest market share from your target market. How should you price your product?

Question 4 4. Which type of pricing strategy depends on promotions/sales to temporarily reduce prices?

Question 5 5. What type of pricing strategy is Speedy Cellular using when it introduces a new smartphone at a price below all of its competitors ?

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Question 6 6. How could Advance Electronics implement a price skimming strategy when it introduces its new game box?

Question 7 7. Why would an airline company utilize a status quo pricing strategy?

Question 8 8. If a product has a strong unique advantage that is not easily copied, how should it be priced?

Question 9 9. What type of pricing strategy offers one price and avoids constant sales discounts and price changes?

Question 10 10. Why is a pricing strategy important?

Holt McDougal Economics Chapter 6.2: Prices as Signals & Incentives Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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