Utility is defined as the satisfaction derived from the consumption of a commodity which
determines consumption and demand behavior.  
*
2/2

True
 
False

 
Social Factors  exert the broadest and deepest influence on consumer behavior.
*
2/2

True
False
 
 
Personal Factors influenced lifestyle  in buyers decision
*
2/2

True
 
False

 
There are 5 factors influencing behavior*
2/2

True
False
 
 
Marginal utility is the total amount of satisfaction derived from consuming goods and
services.
*
2/2
True
False
 
 
Using resource-saving technology  is one of the basic way to improve resource
efficiency
*
2/2

True
 
False

 
There are four classification of assets*
2/2

True
False
 
 
Inventories are the resources used or simply transformed into these unsold goods which
become part of the firm's stock of assets..  
*
2/2

True
 
False

 
Total variable cost varies in direct proportion.  
*
2/2

True
 
False

 
Cost is value of money that has been used up to produce something   
*
2/2

True
 
False

 
Opportunity cost  is the cost that is implied but not included in financial report or
accounting record.
*
2/2

True
False
 
 
A market is said to be purely competition if there is perfect mobility of resources.
*
2/2

True
 
False

 
Marginal revenue is the additional cost incurred when additional units of products are
produced.
*
2/2

True
False
 
 
Profit is a pure surplus or an excess of total receipts overall cost of production incurred
by a firm.
*
2/2

True
 
False

 
Short Run is a sufficiently long period of time where in a firm can complete all desired
input adjustments.
*
2/2

True
False
 

II. Identification
20 of 20 points
Identify the following.

 
Beliefs*
2/2

Cultural Factor
Social Factor
Personal Factor
Psychological Factor
 
Other:

 
Social Class*
2/2

Cultural Factor
 
Social Factor
Personal Factor
Psychological Factor
Other:
 
Occupation*
2/2

Cultural Factor
Social Factor
Personal Factor
 
Psychological Factor
Other:

 
Lifestyle*
2/2

Cultural Factor
Social Factor
Personal Factor
 
Psychological Factor
Other:

 
Family*
2/2

Cultural Factor
Social Factor
 
Personal Factor
Psychological Factor
Other:

 
Subculture*
2/2

Cultural Factor
 
Social Factor
Personal Factor
Psychological Factor
Other:

 
Lifecycle*
2/2

Cultural Factor
Social Factor
Personal Factor
 
Psychological Factor
Other:

 
Learning*
2/2

Cultural Factor
Social Factor
Personal Factor
Psychological Factor
 
Other:

 
Social Networks*
2/2

Cultural Factor
Social Factor
 
Personal Factor
Psychological Factor
Other:

 
Economic Situation*
2/2

Cultural Factor
Social Factor
Personal Factor
 
Psychological Factor
Other: