Question 31. Because retailers have to be concerned with product selection, price, and space, they ofte

31. Because retailers have to be concerned with product selection, price, and space, they often
evaluate products on the basis of
a) their markup.
b) sales per square foot of selling area.
c) how many of the product they can fit in a certain amount of space.
d) profit per dollar of selling price.
e) the reliability of the supplier.
32. Which type of business market tends to have the most complex buying procedures?
a) Reseller
b) Institutional
c) Retailer
d) Government
e) Producer
33. The recently created Department of Homeland Defense is a member of the _____ market.
a) regulatory
b) reseller
c) government
d) producer
e) institutional
34. The state of Montana is preparing to buy a large quantity of frozen orange juice for use in a
large school district. Citrus Sweet, Inc. is in the citrus juice business but has never sold to the
government market. To have a chance at getting this order, Citrus Sweet’s first step must be to get
her firm to
a) make a presentation appointment with the state.
b) quote prices to the purchasing department.
c) advertise in the capital city.
d) negotiate with the state.
e) secure a slot on the list of qualified bidders.
35. About what percentage of the annual U.S. gross domestic product is government spending?
a) 2 percent
b) 10 percent
c) 20 percent
d) 30 percent
e) 50 percent
36. A friend of yours starts his own business. He would like to expand his client base to include
the government, but he believes his small business would be ignored. Based on your knowledge
from the text, you tell him
a) that he’s absolutely right, the government doesn’t deal with small businesses.
b) although the government will deal with small businesses, he will never make a profit off a
government contract.
c) that any government, federal, state, or local would laugh at the size of his business.
d) the government rarely considers new suppliers when making purchasing decisions.
e) the government buys products from all sizes of business, but there is some red tape.
37. The government decides to purchase a new fleet of fighter jets for the U.S. Air Force. What
type of buying procedure is the government most likely to use?
a) The government will request bids from all companies on its qualified bidder list.
b) It will contact whatever company made the last jets and have them develop the new ones.
c) Ads will be placed in the top five circulated U.S. newspapers for a company to produce the
jets.
d) The government will select a few firms and enter into negotiations with them until the
contract is awarded.
e) The contract will go to the first company that submits a reasonable bid for the desired jets.
38. Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This
means it is part of a(n) ___________ market.
a) producer

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