2. Ida works on creating ways to ensure that customers receive goods at the right time and correct location.

Ida is involved in her firm's ________ strategy.
A. pricing
B. transportation
C. product
D. promotion
3. Mario is part of a strategic planning team. He has identified that his company is the low-cost producer in
its industry. This should be listed on a SWOT analysis as a/an
A. opportunity.
B. weaknesses.
C. strength.
D. threat.
4. According to the doctrine of supply, the amount _______ will increase as the _______ increases.
A. supplied; price
B. sold; demand
C. bought; cost
D. demanded; cheapness
5. What prompted Congress to enact the Sarbanes-Oxley Act in 2002?
A. Congress wanted to make accounting practices more efficient.
B. Major companies requested government regulation following negative publicity.
C. A series of improper financial disclosures were found during investigations.
D. Stockholders petitioned for increased access to financial records.
6. Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and
supplies into position, as specified in the company's ________ plan.
A. contingency
B. operational
C. strategic
D. tactical
7. Camden Products buys a $500,000 machine by taking out a bank loan. The company's assets will
________ by $500,000 while its liabilities will ________ by $500,000.
A. fall; fall
B. rise; fall
C. fall; rise
D. rise; rise
8. What is the name for a complex form of bartering in which several countries may be involved, each
trading goods for goods or services for services?
A. Countertopping
B. Countertrading
C. Currency fluctuations
D. Exchange activity
9. If you want to turn self-directed gain into social and economic benefits for all, you should use a/an
_______ strategy.
A. charitable aid society
B. government
C. invisible hand
D. visible hand
10. The Social Club is conducting a breakeven analysis to determine how many tickets it must sell at $15
each to break even on the Holiday Dance. Fixed costs are $2,000, and the variable cost per person is $10.
To break even, the Social Club must sell ________ tickets.
A. 500
B. 400
C. 800
D. 80
11. The curve that shows the relationship between different prices and the quantity requested at each price
is the ________ curve.
A. equilibrium
B. supply
C. demand
D. buying
12. Student A says that if you're going to prepare alternative course of action, you need to do strategic
planning. Student B says that if you're going to prepare alternative courses of action, you need to do
contingency planning. Which student is correct?
A. Both
B. Student A only
C. Student B only
D. Neither
13. In which stage of the product life cycle do sales reach a saturation level, making further sales expansion
difficult?
A. Introductory stage
B. Maturity stage
C. Decline stage
D. Growth stage
14. Suppose you want to price goods and services at price points that make the product appear less
expensive than it is. Which strategy should you use?

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