1. When we draw a graph of price and demand, elasticity is defined by which of the following?
a. the y-intercept of the line
b. the x-intercept of the line
c. the number of points we plot to create the line
d. the slope of the line

2. What does it mean for demand to be "unitary?"
a. prices go up or down but revenues remain about the same
b. prices remain the same but revenue goes up and down
c. prices and revenue change unpredictably
d. there is never a change in price or revenue

3. (Price - variable costs) is also called ________.
a. profit
b. contribution per unit to fixed costs
c. maximum sales volume
d. fixed price units per contribution

4. Promotion and financing are activities.
a. customer-oriented
b. product-oriented
c. marketing-oriented
d. co-worker-oriented

5. Which of the following is NOT a reason marketing is important?
a. advertising facilitates customers' awareness
b. advertising attempts to persuade potential customers that the featured brand is superior to competitors' market offerings
c. advertising usually creates short-term gains in sales
d. advertising creates long-term brand awareness and positive attitudes

6. When a consumer does not have much personal experience with a realtor (for example, a first-time home buyer), he will form expectations from .
a. an extrapolation of past experiences with professional service providers
b. newspaper articles
c. his last visit with his doctor
d. an extrapolation of past experiences with service industry staff

7. What type of ad is also referred to as fighting or pulsing?
a. continuous
b. occasional
c. seasonal
d. annual

8. Compared to a few years ago, the number of radio stations has , and the time listeners
tune in has .
a. increased, decreased
b. decreased,increased
c. increased, increased
d. decreased, decreased