In which order do the stages of the product life cycle occur?
A) Growth, introduction, maturity, decline
B) Introduction, maturity, slowdown, decline
C) Innovation, distribution, maturity, decline
D) Introduction, growth, maturity, decline
E) Introduction, growth, slowdown, decline
Question 2 - The collective economy of ________ is larger than the United States and almost three times larger than Japan.
A) NAFTA
B) the EU
C) APEC
D) ASEAN
E) CAFTA-DR
Question 3 - When a product experiences growth in sales revenue and profits, reaches a peak, and then declines, it goes through what is called:
A) cyclical phases.
B) roller coaster revenue.
C) product stages.
D) product growth and decline.
E) the product life cycle.
Question 4 - Who are the members of NAFTA?
A) The United States, Canada, and Mexico
B) Greenland, Iceland, and Canada
C) Guatemala, Honduras, and Mexico
D) The United States, Mexico, and Japan
E) The United States, Canada, and the United Kingdom
Question 5 - In the product life cycle, profits begin to decline in the _________ stage while sales decline during the ________ stage.
A) introduction, growth
B) growth, decline
C) maturity, decline
D) growth, maturity
E) maturity, growth
Question 6 - Suppose Brazil, Argentina, Columbia, Peru, and Chile decide to form the South American Union to increase trade with one another. This would be an example of a(n):
A) world trade organization.
B) peace agreement.
C) economic community.
D) regional conflict.
E) global marketplace.
Question 7 - During the ________ stage of the product life cycle, sales and profits increase rapidly.
A) growth
B) introduction
C) decline
D) maturity
E) invention
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