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BUS 475 Week 2 Knowledge Check

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BUS 475 Week 2 Knowledge Check 1. Compared with other approaches to business, the marketing concept is distinct in that it A. focuses on sales B. produces new products and services C. creates a broad assortment of products D. focuses on satisfying customers' needs 2.A company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products. What type of statement is this? A. Qualifying B. Positioning C. Determining D. Clustering 3. The sales analysis of a product revealed …show more content…

increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to rise D. increased, causing the price of cigarette rolling machines to rise and the quantity of machines purchased to fall 12. Keynes believed that an increase in savings would A. raise aggregate demand by reducing investment B. raise aggregate demand by increasing consumption C. reduce aggregate demand by reducing investment D. reduce aggregate demand by reducing consumption 13. Which of the following monetary policies reduces aggregate demand and output? A. A cut in the federal funds rate B. An open market purchase of government securities C. An increase in the discount rate D. A cut in the required reserve ratio 14. Deficits may be desirable in the short run if they A. help to stabilize the economy when the economy falls below potential output B. increase savings necessary for future investment and growth C. increase savings necessary for future consumption and demand D. help to stabilize the economy when the economy is above potential output 15. If for a country, the quantity of its currency demanded exceeds the quantity supplied, then there is a A. balance of payments surplus B. balance of payments deficit C. balance of payments equilibrium D. trade balance 16. Suppose that college tuition is higher this year than last year and that more students are enrolled in

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