Match the Term with Its Definition

question 63

Multiple Choice

Match the term with its definition.
-An inclusive term for any promotional technique other than personal selling and advertising that stimulates the purchase of a particular product or service

• A)advertising
• B)app
• C)blog
• D)e-mail promotion
• E)hyperlink
• F)institutional advertising
• G)personal selling
• H)product advertising
• I)promotion
• J)promotional mix
• K)prospecting
• L)publicity
• M)quick response (QR) code
• N)sales promotion
• O)social media

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Definitions:

Marginal Costs

The additional financial burden of creating one more unit of a product or service.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its responsiveness to price changes.

Supply Curve

A visual diagram that illustrates the connection between a product's price and the amount of the product that sellers are ready and able to offer.

Pure Monopolist

A market structure in which a single firm has complete control over the entire market for a product or service, with no close substitutes.