AgEcon 02

100問 • 1年前

問題一覧

This refers to the temporary period of unsually high sales driven by consumer enthusiasm and immediate product or brand popularity

fad

Which of the following public offices is primarily mandated to review proposed mergers and acquisitions, investigate and adjucate anti-trust cases, and impose sanctions and penalties, among others.

Philippine Competition Commission

Also known as Good-Better-Best Approach, this pricing strategy offers customers bundled products or services with corresponding price levels

tiered pricing

The first flour milling company in the Philippines, which was established in 1958, is

Republic Flour Mill

Locally processed coconut wines are at risk of lower sales due to the area's wide availability and affordability of other commercial alcoholic beverages. This particular case is exhibited in which one of the Porter's forces of industry-level competition?

threat of substitution

A reasonable measure of the standard of living in a country is

real GDP per person

An important indicator of a nation's well-being is

GDP

A high marginal propensity to consume implies which of the following

a low marginal propensity to save

For an economy consisting of households and business only, which of the following is consistent with the circular flow of income and production

households are suppliers of resources and consumers of goods and services

It is a type of middleman who takes title to and therefore, own the products they handle. They also buy and sell for the grain

merchant middlemen

A type of middlemen who acts as representative of their client. They do not take title to and therefore do not own, the products they handle. They just receive their incomes in the form of fees and commissions. They sell their services to their principal, not physical goods to consumers

agent middlemen

This agent usually not have physical control of the product. He ordinarily follows the instructions of his principal closely and has less discretionary power in price negotiations than the commission agent

broker

Marketung activity which involves the sorting of products into lots or units according to one or more of their quality attributes

grading

The marketing function is the establishment and maintenance of uniform measurement. This function simplifies buying and selling, since it makes possible the sale by sample and description

standardization function

A type of market where the number of buyers and sellers is sufficiently large so that no individual can perceptibly influence price by his decisions to buy or sell. The product is also sufficiently homogenous so that the product of one firm is essentially a perfect substitute for that of other firm refers to

purely competitive

This marketing function addresses the problem on product seasonality. The primary aim of which is to help balance and consumption of or to balance periods or scarcity

storage

A marketing sevice that influences the buyers and/or consumers to buy. The objective is to inform consumers what is available for purchase, especially if the product is new in the market

advertising

It refers to an inter-organizational system made up of a set of independent institutions and agencies involved in the task of moving product from their point of production to point of consumption

marketing channel

There are product handlers who serve as the last link in the marketing channel. They have greater utility both in rural and urban centers by selling to consumers. They occupy almost everyday

retailers

This refers to the difference between prices at different levels of the system. It can be also defined as the difference between what the consumer pays and what the producer receives for his agricultural produce. It is also termed as "price spread" between farm price and retail price

marketing margin

This refers to the cost of marketing services rendered between the farmers and consumers. These include labor wages, interest on borrowed capital, land rent, building rental, and the profit of the entrepreneur who risk his capital

marketing costs

This is a pricing strategy to gain more customers while maintaining/holding the present ones. (e.g., odd-centavo pricing, even-centavo pricing, quality image pricing, price of P0.99 etc.)

psychological pricing

Organization that deals with business enterprise, which is owned, patronized and managed by members, is called

cooperative

Industries that are concerned with manufacturing of industrial services engaged in production with total assets of more than 5M but not exceeding 51 and an employment size of 5-99 workers is a

small-scale industry

Which of the following refers to an indirect tax expressed as a fixed amount per unit of the good or resource being taxed rather than varying with price

specific tax

It refers to the price that is equal to a firm's average variable cost, wherein the firm will no longer produce any output

shutdown price

Which of the following is not true about price ceilings?

none of the above

Which of the following refers to the time horizon in which a producer cannot adjust at least one input, but other inputs are still considered variable

short run period

It is an approach to the study of agricultural marketing that covers arrangements and organizations that are part of the marketing process

institutional approach

It is the difference between monetary value of a nation's exports and imports over a certain time period

balance of trade

Which of the following is not true about monopoly?

the firm can impose any price it wants

It is a type of cost that refers to the opportunity cost of using resources owned by a firm (e.g., land, labor, management)

implicit cost

It is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners

comparative advantage

The lowest point of real GDP at the end of recession is known as

trough

Is when people wih to hold money rather than buy assets/bond/risky investment.

asset motive/speculative demand

This happens when monetary policy becomes ineffective due to very low interest rates combined with consumers who prefer to save rather than invest in higher-yielding bonds or other investments

solvency trap

This refers to the use of government spending and tax policies to influence economic conditions

fiscal policy

It is a line indicating all combinations of two variable inputs that will produce a given level of output

isoquant

It is a line showing all possible combinations of two goodd that provide the same level of utility (satisfaction)

indifference curve

It is the discount rate that equates the present values of the project's benefits and costs, so net present value (NPV) is equal to zero

internal rate of return

It refers to the elasticity at the larger segment of the demand curve

arc elasticity

Reduces the amount of peso needed to buy foreign exchange

peso appreciation

It is a ratio of the percentage change in a dependent variable (y) and percentage change in an independent variable (x)

elasticity

It is a policy that tends to worsen the government budget deficit

expansionary fiscal policy

Non-price competition often takes the form of

product differentiation

It is a type of market integration where two or more firms in the same stage of production, including marketing, in an industry merge or combine

horizontal integration

It refers to the ability to produce a certain good or service at lower cost than other party

absolute advantage

It refers to the different quantities of a good or service that consumers are willing and able to buy or purchase at alternative prices, holding other factors affecting demand as constant (ceteris paribus, with other things the same, all other things being equal).

demand

Which among the following transactions should be included in the computation of GDP

none of the above

It is a type of utility associated with having the goods and services availabale when consumers want to use them

time utility

The Philippines missed its target of at least 6.5% real GDP growth this year after a resurgence of Covid-19 infections forced the country into lockdown. This is an example of

deflationary gap

It provides a summary of international economic transactions between residents and non-residents of a country, over a given period of time

balance of payments

This happens when per-unit costs of production decreases as output increases

economies of scale

It refers to the different quantities of a good or service that producers or sellers are willing and able to produce and sell at alternative prices, holding other factors affecting supply as constant (ceteris paribus, with other things the same, all other things being equal).

supply

It consists of both a desire for the product and the ability to pay for it

effective demand

It is a type of exchange in which the value of the currency is determined by market forces-supply and demand for currency

floating exchange rate

It refers to an increase in aggregate production in an economy

economic growth

He is best known for his theory on wages and profit, labor theory of value, theory of comparative advantage, and theory of rents

David Ricardo

This occurs when prices equals marginal cost at the minimum point of the Average Total Cost

break-even point

Refers to the locus points each of which represents a bundle of goods that can be purchased if the entire money is spent

budget line

It refers to the relative satisfaction or want-satisfying power of a gooe or service

utility

It states that the quantity demanded for a good or service is inversely related to its own price

law of demand

How do market economies differ from command economies

resources belong to private parties in a market economy as opposed to being owned by the state

It refers to the change in the utility from an increase in consumption of a good or service

marginal utility

It is a type of good that a consumer would demand less of if they had a higher of real income

inferior good

It refers to the difference between prices at different levels in the marketing chain or the difference between what the consumer pays and what the farmer receives for his/her produce

marketing margin

It is a type of good that violates the Law of Demand as shown by the upward-sloping demand curve. It suggests that as the price of Good X decreases, the quantity demanded for Good X also decreases.

Giffen good

It is a tool used to determine who among the actors in the market chain is reaping the most benefits

breakdown of consumer's peso

It is a type of inflation which occurs when the overall demand for goods and services in an economy increases more rapidly then the economy's production capacity

demand-pull inflation

Who developed the supply-and-demand curve to demonstrate the point at which the market is in equilibrium

Alfred Marshall

It is a graph that shows a combination of two goods that a consumer can afford to buy at current market prices with a given income

budget line

President_____implemented the Comprehensive Agrarian Reform Program in the Philippines

Corazon C. Aquino

It is a macroeconomic concept that measures the difference between the current level of real gross domestic product (GDP) and the GDP that would exist if an economt was operating at full employment

Inflationary gap

An act to Recognize, Protect, and Promote the Rights of Indigenous Cultural Communities/Indigenous People

R.A. 8371

This refers to the inherent power of the state to take private property for public use

eminent domain

It assumes that the consumer will normally buy enough of the company's product unless they are approach with a substantial selling and promotion effort

selling approach

Storage and disposal of a certain volume of products according to the immediate demand deliver which type of economic utility

time

The following are considered in computing for the storage cost except

production input

What represents the point at which price determination enters into the study of marketing?

exchange function

The job of collecting, interpreting and disseminating information that is necessary to the smooth operating of the marketing process

market intelligence

A segmentation variable that characterizes the target market based on their knowledge, attitudes, uses, or responses to a product

behavioral

Which of the following scenarios best exemplifies the psychographic segmentation

bottles of pasteurized coconut water were tested out in a marathon participated in by hundreds of athletes

Products and services that are patronized by the whole market are often the result of _____ marketing strategy

Mass

Which of the ff statements describe niche marketing?

all of the above

A firm with the lowest production and distribution costs in an industry is called

cost leader

Which of the ff product or service categories consistently provides the least revenue to a firm?

dogs

A product or service in this category normally generates consistent and large profits but with little variation from year to year

cash cows

Why should a company invest in these "stars"?

as they have high market potential

Newly introduced products or services are mostly like to be patronized by what type of customers?

innovators

A distinctive mode of expression

style

Loyalty programs that reward customers through discounts deliver which type of value

emotional

Warranties, after-sales service and credit payment option refer to which level of product or service

Augmented

Goods purchased without planning prior to entering the store

impulse goods

The largest retail store format in terms of length and breadth of product assortments being sold

superstore

It refers to a retail format that sells standard merchandise at lower prices through bulk purchasing and lean operations

discount store

Price skimming works best in situation where

high price gives the brand a high-class image

Also known as Segmented Pricing, this pricing strategy offers customers bundled products or services with corresponding price levels

tiered pricing

A collective term for the protection against counterfeiting and piracy is known as

Intellectual Property Rights

Trademark registration may cover the following brand characteristics

all of the above

100

The astronomer who encountered the quantity theory of money and prices

Copernicus

CropSc 01

Anne Ranay · 100問 · 1年前

CropSc 01