Test Bank for Media Literacy, 9th

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Test Bank for Media Literacy, 9th Edition W. James Potter

Test Bank for Media Literacy, 9th Edition W. James

Potter

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 Potter, Media Literacy, 9e
SAGE Publishing, 2019

Chapter 7: Economic Perspective

Test Bank

Multiple Choice

1. We play a game of economics ______.

A. a few times a year
B. a few times a month
C. each and every day
D. some parts of some days
Ans: C
Answer Location: The Media Game of Economics

2. The players in the media economic game include ______.

A. advertisers and media companies only
B. consumers, advertisers, and media companies only
C. consumers, advertisers, media companies, and employees of media companies
D. advertisers, media companies, employees of media companies, and investors
Ans: C
Answer Location: The Players

3. According to the text, if we, as consumers, do not play the media game well, ______.
A. we will get shortchanged on our expenditure of time
B. we will get shortchanged on our expenditure of money
C. we will make poor economic exchanges
D. all of these
Ans: D
Answer Location: The Players

4. The group of players who exchange time and money for media space and access to
audiences is ______.
A. media companies
B. above-the-line employees
C. below-the-line employees
D. advertisers
Ans: D
Answer Location: The Players

5. Media businesses compete in the ______.

A. talent market
B. audience market
C. advertising market
D. all of these
 Potter, Media Literacy, 9e
SAGE Publishing, 2019

Ans: D
Answer Location: The Players

6. In the mass media industries, talent is viewed primarily as ______.

A. artistic ability
B. the ability to attract large audiences
C. one’s natural ability to sing or act
D. a combination of intelligence and creativity
Ans: B
Answer Location: The Players

7. For all types of players involved in the economic game which pertains to the media,
the main goal is to ______.
A. engage in exchanges with all other groups of players
B. maximize the value of exchange for themselves
C. spend the least amount of money
D. hire the most talented employees
Ans: B
Answer Location: The Goal

8. Within the media economic game, the exchange value for media businesses,
advertisers, and media employees is measured ______.
A. individually
B. aggregately
C. qualitatively
D. quantitatively
Ans: D
Answer Location: The Goal

9. The most central rule to the economic game is that to play, you must ______.
A. be media literate
B. have proven your effectiveness in past exchange situations
C. have resources and a willingness to exchange them
D. have enough money to break barriers to entry
Ans: C
Answer Location: The Rules

10. A characteristic of the media game is ______.

A. the importance of valuing resources well
B. the complex interdependency among players
C. digital convergence
D. all of these
Ans: D
Answer Location: Characteristics of the Game

11. One factor in valuing a resource is to ______.

 Potter, Media Literacy, 9e
SAGE Publishing, 2019

A. understand types of media used by the resource

B. understand marketing and promotion
C. consider how much it costs
D. consider supply and demand
Ans: D
Answer Location: Importance of Valuing Resources Well

12. The different players in the media economic game are ______.
A. independent from each other
B. in simple interdependence
C. in complex interdependence
D. sometimes independent and sometimes interdependent
Ans: C
Answer Location: Complex Interdependency Among Players

13. The digitization of content ______.

A. has made entrepreneurship more difficult
B. has lowered the barriers to entry for entrepreneurs
C. has made entrepreneurship impossible
D. has attracted more corporations to the world of the media
Ans: B
Answer Location: Digital Convergence

14. Monopolistic competition refers to ______.

A. all firms having a fair chance on the market
B. many firms competing within a specific segment of the market
C. some firms becoming very powerful within specific segments of the market
D. none of these
Ans: C
Answer Location: Nature of Competition

15. The three major strategies mass media businesses use to be successful are
______.
A. increasing profits, competing against other media organizations, and finding new
revenue streams
B. maximizing profits, constructing audiences, and reducing risk
C. maximizing profits, pleasing consumers, and expanding to other countries
D. none of these
Ans: B
Answer Location: Media Strategies

16. Profit has often been defined by specialists as the difference between company’s
revenue and ______.
A. price margins
B. investments
C. assets
 Potter, Media Literacy, 9e
SAGE Publishing, 2019

D. expenses
Ans: D
Answer Location: Maximizing Profits

17. Which of the following are ways that media companies maximize profit?
A. increasing revenue streams
B. reducing expenses through economies of scale
C. capitalizing on economies of scope
D. all of these
Ans: D
Answer Location: Maximizing Profits

18. After producing a movie, a film studio sells it on DVD, leases it to airline companies
for showing during flights, and sells artifacts related to it. These are ways to ______.
A. increase revenue streams
B. minimize expenses
C. attract people to niche audiences
D. minimize risk
Ans: A
Answer Location: Maximizing Profits

19. The media pay people with a lot of talent a lot of money and clerical staff as little as
possible. This is because media organizations try to ______.
A. increase revenue streams
B. minimize expenses
C. attract people to niche audiences
D. minimize risk
Ans: B
Answer Location: Maximizing Profits

20. Below-the-line employees are those employees in media companies who ______.
A. use fairly common skills to perform their jobs
B. earn less than $100,000 per year
C. do not have college degrees
D. do not own a portion of the company
Ans: A
Answer Location: The Players

21. A movie company spends a great deal of money producing a film. Once they finish
production, they spend a little extra money recording it on DVD and Blu-ray. This is an
example of ______.
A. economies of scale
B. economies of scope
C. distribution integration
D. vertical spending
Ans: B
 Potter, Media Literacy, 9e
SAGE Publishing, 2019

Answer Location: Maximizing Profits

22. One radio station transmits only rap music enjoyed by youth and another radio
stations broadcasts only golden oldies enjoyed by elderly people. These are because
these media organizations attempt to ______.
A. increase revenue streams
B. minimize expenses
C. attract people to niche audiences
D. minimize risk
Ans: C
Answer Location: Constructing Audiences

23. Once a media company constructs an audience, the next step is to ______.
A. construct a second audience
B. condition audience members so they develop a habit of exposure
C. conduct market research
D. none of these
Ans: B
Answer Location: Constructing Audiences

24. Today, media businesses do research first and product development second. This is
because these media businesses try to ______.
A. increase revenue streams
B. minimize expenses
C. attract people to niche audiences
D. minimize risk
Ans: D
Answer Location: Reducing Risk

25. With the marketing concept, managers ______.

A. identify niche audiences
B. find out what audience needs are unmet
C. begin with market research and follow research with product development
D. all of these
Ans: D
Answer Location: Reducing Risk

26. The more you are thinking of your media expenditures and the value you are
receiving in return, ______.
A. the less you will invest in the media
B. the more satisfied you will be with the media you consume
C. the less satisfied you will be with the media you consume
D. the more you are thinking from a media literacy perspective
Ans: D
Answer Location: Media Literacy Strategy
 Potter, Media Literacy, 9e
SAGE Publishing, 2019

True/False

1. The economic media game has a definite beginning and end.

Ans: F
Answer Location: The Media Game of Economics

2. There is a simple, uncomplicated interdependence among players in the media.

Ans: F
Answer Location: The Players

3. If consumers pulled out of the economic media game, the game would collapse.
Ans: T
Answer Location: The Players

4. As individuals, we do not have the power to alter the economic media game
significantly for ourselves.
Ans: F
Answer Location: The Players

5. Within the economic media game, value is computed in the same way for different
players.
Ans: F
Answer Location: The Goal

6. Advertising is the engine that drives the growth in the media industries.
Ans: T
Answer Location: Advertising Is the Engine

7. When a media company becomes a conglomerate, it increases its revenue streams.

Ans: T
Answer Location: Maximizing Profits

8. In order to minimize expenses, media companies pay above-the-line employees as

little as possible (near minimum wage).
Ans: F
Answer Location: Maximizing Profits

9. The radio and magazine industries have been very successful in attracting people to
a niche audience.
Ans: T
Answer Location: Constructing Audiences

10. By conducting a cost–benefit analysis of your media exposure, you increase your
media literacy.
Ans: T
Answer Location: Media Literacy Strategy
Test Bank for Media Literacy, 9th Edition W. James Potter

Potter, Media Literacy, 9e

SAGE Publishing, 2019

Essay

1. List and describe the four types of players of the mass media economic game.
Ans: The consumer: Our money, time, and attention to the media. The advertisers:
Make money from time and space in media. The media companies: Content, talent,
and audiences. Employees of media companies: Time, skills, and talent.
Answer Location: The Players

2. Discuss what is the goal of the mass media economic game.

Ans: The goal of mass media is to maximize the value of the exchange for each of the
players in the economic game.
Answer Location: The Goal

3. Discuss how advertising drives the growth of the media industries.

Ans: Advertising makes it possible for new goods to enter markets and let us know
immediately that they are available.
Answer Location: Advertising

4. List and describe the three strategies media companies use to succeed in the
economic game and achieve their goals.
Ans: Maximizing profits: As businesses, they are run to make as large a profit as
possible. Constructing audiences: maximize profits is to construct desirable
audiences then rent them out to advertisers. Reducing risk: media businesses begin
with audience needs then construct messages to meet those needs.
Answer Location: Media Industries’ Strategies

5. Discuss how understanding the mass media economic game can help increase your
media literacy.
Ans: If one has higher expectations for a return on the resources they expend, they
want more than minimal satisfaction from exposures and think much more about the
value of their own resources, and they want to negotiate a better exchange for those
resources.
Answer Location: Media Literacy Strategy

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