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NMTA Social Science: Resource Planning & Consumer Economics 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. Which of the following are capital resources?

Question 2 2. Molly was excited to use her tax refund to purchase a brand new dining room set. To her dismay, when the new furniture was delivered to her home, she detected several nicks in the table and some snags and dirt marks on the chair cushions. Molly called the store to reject her order and demand that her deposit be immediately returned. The manager of the store refused, and Molly was forced to take legal action. This is an example of which of the following

Question 3 3. Perishable, soft, and semi-durable are all subcategories of what?

Question 4 4. A car company has forever been known as offering cheap, reliable cars. The new management group would like the marketing team to change consumer perception of the cars from cheap and reliable to high tech and cool. The marketing team's challenge is called _____.

Question 5 5. Which federal agency serves as our nation's consumer protection agency and administers laws designed to protect the rights of consumers?

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Question 6 6. The resource allocator role is part of the informational managerial role category, because managers need to have valid information in order to wisely spend money or hire new people. True or false?

Question 7 7. Which of the following statements is true regarding the relationships in a market economy?

Question 8 8. Which of the following is a primary benefit of advertising online?

Question 9 9. Which raw materials are considered capital resources?

Question 10 10. What is NOT involved in the limited decision making process?

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Question 11 11. Which of the following BEST defines advertising?

Question 12 12. If a good is used as an input to make another good, it is not a consumer good but called a ____ good.

Question 13 13. Product liability laws are:

Question 14 14. What are the factors of production?

Question 15 15. What is not an example of a consumer good?

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Question 16 16. Which of the following is the best example of a purchase that would fall under extended decision making?

Question 17 17. The 'Exploding Coca-Cola Case' is based on which of the following types of product liability?

Question 18 18. Which of the following is an injection into the circular flow model?

Question 19 19. What is positioning?

Question 20 20. Which of the following would be the best example of a nominal purchase decision ?

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Question 21 21. Which of the following is an example of when a strict liability standard would apply?

Question 22 22. A resource allocator does which of the following?

Question 23 23. Identify which of the following is NOT within the jurisdiction of the Consumer Product Safety Commission:

Question 24 24. How would a company begin to change consumer perceptions about its products ?

Question 25 25. What agency protects consumers against false advertising and fraud?

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Question 26 26. Which one of these scenarios most closely describes the resource allocator managerial role?

Question 27 27. Which of the following is NOT true about low involvement purchases?

Question 28 28. What is a graphical way of representing two or more dimensions or variables that are represented in consumers' minds?

Question 29 29. Consumer goods are further classified into what two categories?

Question 30 30. Which of the following statements about television advertising is TRUE?

NMTA Social Science: Resource Planning & Consumer Economics 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!

NMTA Social Science (303): Practice & Study Guide  /  Social Science Courses
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