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10 Cards in this Set
- Front
- Back
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Which of the following is NOT an environmental force? |
Ecological |
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The increased use of alternative heating sources such as solar photovoltaic technology to produce environmentally friendly electricity from solar panels installed on roof tops or at ground level is an example of which environmental force? |
Social |
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The name given to the group of consumers who are self-reliant, entrepreneurial, supportive of racial and sexual diversity, and not prone to extravagance is called: |
Generation X. |
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In an inflationary economy, the cost to produce and buy products and services __________ as prices __________. |
increases; increase |
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In recent years, the personal saving rate of Americans has declined to almost zero. That trend was reversed in 2008 when: |
the government issued stimulus checks designed to improve the economy, and consumers saved the money rather than spending it. |
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__________ will be used to develop genetically modified crops to create enough food for a growing world population. |
Biotechnology |
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Distribution (in the sense of shipping products) has a significant impact on which form of competition? |
Pure competition |
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Powerful buyers exist when: |
when switching costs are low and there are few buyers. |
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The purpose of the Robinson-Patman Act is to: |
outlaw price discrimination for purchasers of the same product. |
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The first major federal legislation passed to encourage competition in the United States was the: |
Sherman Antitrust Act. |
