1. Marketing Test 1 Review Functions of Marketing Economic Concepts

2. Added value by putting parts together to make them more useful Form Utility

3. Freedom of Ownership

4. Delivering pizza across the city is an example of ____________ Distribution

5. A bank teller is this type of factor of production Human Resource

6. Scarcity

7. Billboards and signs are examples of _________ Promotion

8. Demand

9. A computer is this type of factor of production Capital Resource

10. A commercial displaying the benefits of your product is an example of ______ Promotion

11. Inflation

12. Added value by having a product in a convenient location for purchase Place Utility

13. A 20% off sale is an example of ______ Pricing

14. Computer programming skills are this type of factor of production Entrepreneurship

15. Capitalism

16. Offering a taste test between two rival brands is an example of __________ Marketing Information Management

17. Added value by having a product available when people want it Time Utility

18. Sunlight is this type of factor of production Natural Resource

19. Offering a store credit card is an example of ________ Financing

20. Profit

21. Equilibrium

22. Selling stock to help run a company is an example of __________ Financing

23. Command economy

24. Added value by offering loans so people can have things before they have the capital to acquire it Possession Utility

25. A car saleperson approaching you on the lot is an example of ________ Selling

26. Market Economy

27. Soil is this type of factor of production Natural Resource

28. 3 for $1 is an example of __________ Pricing

29. Monopoly

30. A building is this type of factor of production Capital Resource

31. Storing Christmas lights in a warehouse until November is an example of _____ Distribution

32. Shortage

33. Mixed Economy

34. Deciding whether to use canvas or leather for a strap is an example of ___ Product / Service Management

35. Risk

36. A manager is this type of factor of production Human Resource

37. A girl scout knocking on the door to tell you about cookies available is an example of ____________ Selling

38. Business Cycle

39. Supply

40. Added value by providing details and characteristics about a product Information Utility

41. Hiring Gallup to determine customer needs is an example of _________ Marketing Information Management

42. Competition

43. Communism

44. Creativity to develop new products is this type of factor of production Entrepreneurship

45. Decided on the size of bottle to use in production is an example of _______ Product / Service Management

46. Role of the Government

47. Surplus

48. Cash is this type of factor of production Capital Resource

49. Socialism