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Marketing Study Set 20

Business

Quiz 3 :

The Global Environment

Quiz 3 :

The Global Environment

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In periods of inflation, the purchasing power of money increases.
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True False
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False

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The Federal Commerce Commission (FCC)serves as the consumer protection agency for the United States.
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True False
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False

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A country's income distribution provides the most reliable picture of its purchasing power.
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True False
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True

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A long-time leader in the beverage industry, Pepsi saw soft-drink sales decline when competitors began selling juices, teas, and energy drinks. This is an example of indirect competition.
True False
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A recession occurs when inflation rises for two or more consecutive quarters.
True False
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Environmental scanning involves monitoring developments within a firm's control to evaluate the firm's strengths and weaknesses.
True False
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One of the biggest sociocultural changes in the United States over the past half century has been the shift from a nation of primarily one-income families to one in which two-income families and single-parent households predominate.
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A recession and contraction of the economy tends to reduce consumer confidence.
True False
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Direct competition is also known as primary competition.
True False
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Created in 1945, the WTO is governed by and accountable to the 188 countries that make up its near-global membership.
True False
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In 2018, the United States, Canada, and Mexico reached a deal to replace its current trade agreement.
True False
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Direct competition occurs when a product provides alternate solutions to the same market.
True False
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Rapidly retiring Baby Boomers make up only a quarter of the U.S. population, but account for 50 percent of all domestic consumer spending.
True False
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The Democratic Republic of Congo in Africa joined CAFTA in 2004, renaming the trade agreement DR-CAFTA.
True False
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Compared with other generational groups, Baby Boomers have the greatest familiarity with and most use for digital communication, social media, and other forms of technology.
True False
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Economic factors influence almost every marketing decision a firm makes.
True False
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The six major external factors that can influence the marketing environment of a firm are: economic factors, demographic factors, technological factors, political factors, legal factors, and sociocultural factors.
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The World Trade Organization was officially formed in 1995 under the Marrakech Agreement.
True False
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Currency fluctuations can provide marketing opportunities whether a currency is appreciating or depreciating.
True False
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Projections indicate that by 2050 the Hispanic population in the United States will almost double to more than 127 million.
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