Pricing on the World Market

Quiz 2
1. Which answer below is an incorrect approach to pricing?
A. cost of product
B. analysis of competitors prices
C. analysis of national market prices
D. analysis of market prices
E. analysis of customer value

2. Which answer below is not related to the aspects of the "Middle Ages" pricing
philosophy?
A. duality of approaches
B. just price corresponds to the cost of labour
C. first efforts in the revealing of "exchange value"
D. just price corresponds to the cost of production, demand and supply
E. first efforts in the seperating of "price from value"

3. Which of the following asnwers are not the characteristics of the "Marshal price
theory"?
A. theory incorporates cost of production
B. positive correlation between high price and relatively intensive used resources
C. theory incorporates marginal utility
D. theory incorporates demand and supply
E. introduction to economic theory the consepts of "price demand and price supply"

4. Which answer below contains the types of prices?

A. Procurement price, National price, Free prices, World prices
B. Regulating price, Retail price, Wholesale price, World prices
C. Regulating price, Fixed prices, National prices, Contact price
D. Contact price, Common prices, National prices, Wolrd prices
E. Procurement price, National price, Wholesale price, World prices

5. Which of the following answers best describes the improved operational

efficiency?
A. is evident where marketing profit are reduced but outputs are either maintained
or actually increase
B. is evident where marketing costs are reduced but outputs are either maintained
or actually decrease
 C. is evident where marketing costs are reduced but outputs are either maintained
or actually increase
D. is evident where marketing costs are increased but outputs are either maintained
or actually decrease
E. is evident where marketing profits are reduced but outputs are either maintained
or actually decrease

6. Which answers below is right in the case of the efficiently operated market?
1. Prices of a given product will not be related over space and time
2. Prices should only differ between geographic areas of a country by
transportation costs from one point to another
3. The price of storable products at one point in time should exceed the price in a
previous period in time by more than the cost of storage
4. Prices should not differ between geographic areas of a country by
transportation costs from one point to another
5. Prices of a given product will be related over space and time

A. 1,3 B. 2,5 C. 1,4 D. 1,5 E. 3,4

7) Which answer below best describes policy activist theory on price determination?
A) Policy should not respond to current or expected economic conditions and processes
B) Government should increase supply to boost growth
C) Government should decrease demand to boost growth
D) Policy should be invariant to the current condition of the economy
E) Policy responds to current or expected economic conditions and processes

8) Which of the following answers below related to the characteristics of long-run

aggregate supply curve?
A) Level of output is determined by natural rate, price expectations are not explicit
B) Resources are not utilized completely, price expectations are explicit
C) Resources are used fully, price expectations are explicit
D) Potential production is equal to its actual production, level of inflation is high
E) Resources are used completely, actual prices and expected prices are not equal

9) Which of the answers below best describe features of retail prices in the world
market?
A. The business sells things in low amounts to other businesses rather than to
individual customers
B. The price of a good or product which is sold to end user for consumption not for
resale through a third-party distribution channel
C. The price of commodity which is realized by a seller or supplier to a buyer with the
purpose of further resale
D. The business sells things in large amounts to other businesses rather than to
individual customers
E. The price of a good or product which is sold to end user for consumption for resale
through a third-party distribution channel

10. Which of the following answers below are related to the classification of prices in the
world market based on the degree of liberation?
A) Fixed prices, free prices, rational prices
B) Common prices, regional prices, price penetration
C) Regulated prices, fixed prices, internal prices
D) Free prices, fixed prices, external prices
E) Free prices, fixed prices, regulated prices