Question 1

Which of the following steps in new product development should occur first?

Options :

A : Idea generation

B : Idea evaluation

C : Business analysis

D : Commercialization

Answer: A

Question 2

Which of the following is a national association of marketing education students that provides teachers and members with activities to develop career skills in marketing, entrepreneurship, and management?

Options :

A : National Tech Prep Network (NTPN)

B : Distributive Education Clubs of America (DECA)

C : National Association of Supervisors for Business Education (NASBE)

D : National Council on Economic Education (NCEE)

Answer: B

Question 3

Which of the following is an example of place utility?

Options :

A : Arrangements are made for the transfer of title from seller to buyer.

B : Goods or services are available at a convenient location when the consumer wants to buy them.

C : Products requested by the consumer are ordered on demand.

D : A business firm converts raw materials into finished products.

Answer: B

Question 4

The interest rate on short-term loans that large banks charge their commercial borrowers who have excellent credit ratings is called the

Options :

A : funds rate

B : market rate

C : discount rate

D : prime rate

Answer: D

Question 5

Which of the following is a primary purpose of financial markets?

Options :

A : Allocating capital efficiently

B : Controlling inflation

C : Lowering the yield on bonds

Answer: A