Ethiopian Grade 12 General Business Unit 1 Question Answer

Ethiopian Grade 12 General Business Unit 1 Question Answer. Unit one is on Marketing. Therefore, our question answers will be related to marketing only. This will also help the Ethiopian EUEE (Grade 12) University Entrance written exam.

EUEE  General Business Unit 1 Question Answer

Ethiopian Grade 12 General Business Unit 1 Question Answer

At the end of this unit, students will be able to:  understand the concepts of marketing and market.  appreciate and determine marketing functions.  recognize marketing mix.

UNIT 1: MARKETING

  • 1.1 What is Marketing?
  • 1.2 What is Market?
  • 1.3 Major Marketing Functions
  • 1.4 Marketing Mix- Overview

Q1. Marketing always begins and ends with ____

  • A. Companies
  • B. Economics
  • C. Profit and Loss
  • D. Customers

Answers: D (Although marketing contains many functions, marketing always begins and ends with the customer.)

Q2. Which of the following basic concepts involved in the process of marketing?

  • A. Needs and Wants
  • B. Exchange and transaction
  • C. Product and Customer Value
  • D. All of the above

Answers: D

Q3. What exactly does a producer do in a market?

  • A. Producers create needs
  • B. They do shape our wants
  • C. Making profit from us
  • D. All of the above

Answers:B (Producers do not create needs, but they do shape our wants by providing many alternatives.)

Q4. Which of the following is a mechanism that enables producers to identify consumer preferences?

  • A. Exchange process
  • B. Market economy
  • C. Transaction
  • D. Needs and Wants

Answers: A  ( In a market economy, the exchange process is the mechanism that enables producers to identify consumer preferences. )

Q5. Which of the following can be offered to a market for attention, acquisition, use, or consumption?

  • A. Customers
  • B. Sellers
  • C. Product
  • D. All of the above

Answers: C

Q6. The market is a mechanism that brings _____ and _____ of a product together. 

  • A. Customer Value and Satisfaction
  • B. Goods and Services
  • C. Actual and Potential buyers
  • D. Buyers and Sellers

Answers: D Market is a mechanism that brings buyers and sellers of a product together.

Q7. Which of the following market consist of purchasers and/individual household members?

  • A. Industrial markets
  • B. Producer markets
  • C. Consumer markets
  • D. Institutional markets

Answers: C. consumer markets consist of purchasers and/individual household members who intend to consume or benefit from the purchased products and who do not buy products to make profits.

Q8. In which of the following markets wholesalers and retailers are involved?

  • A. Wholesalers markets
  • B. Producer markets
  • C. Retailers markets
  • D. Reseller markets

Answers: D. (consist of intermediaries such as wholesalers and retailers that buy finished products and sell them for a profit)

Q9. The marketing process involves ______ major functions.

  • A. Four
  • B. Eight
  • C. Sixteen
  • D. Numerous

Answers: B. (The marketing process involves eight major functions and numerous related activities)

Q10. Which of the following is a mixture of controllable variables that can be manipulated by the management of the organization?

  • A. Controllable Market
  • B. Manipulate Market
  • C. Mixture Market
  • D. Marketing mix

Answers: D.

Q11. Which of the following is NOT a controllable variable in the Marketing mix?

  • A. Product and Price
  • B. Promotion
  • C. Place
  • D. Payment

Answers: D. Marketing mix can be defined as the mixture of controllable variables such as product, price, place, and promotion that can be manipulated by the management of the organization.

Q12. Which of the following can be classified as goods?

  • A. Consumer goods
  • B. Business goods
  • C. Industrial goods
  • D. All of the above.

Answers: D.

Q13. ______ is the amount of money charged for a product or service.

  • A. Price
  • B. Profit
  • C. Net Value
  • D. Payment

Answers: A. (price is the sum of all the values that consumers exchange for the benefits of having or using the product or service. )

Q14. Which of the following serves as a function allocator?

  • A. Price
  • B. Needs
  • C. Demands
  • D. Customer

Answers: A. 

 

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