Garments must be labeled with the country of manufacture, fabric content, and
A) clothing style.
B) size.
C) inspection code.
D) care instructions.
E) universal product code.
Question 2A seller can change prices quickly in a price-competition situation.
Indicate whether the statement is true or false
Question 3Which of the following statements about labeling is false?
A) The label can be used to facilitate the identification of a product.
B) Labels do not have to disclose nutritional information.
C) The label indicates the quality of the product.
D) Labeling is used to describe the product.
E) The label can play a promotional function.
Question 4Price is a major component of the profit equation.
Indicate whether the statement is true or false
Question 5Federal laws require the disclosure of nutritional information on labels. So far, research on this matter
A) indicates that consumers regularly use the information.
B) has been conducted only by the federal government.
C) has shown mixed results about the use of this information.
D) proves that labels are necessary only for promotional reasons.
E) indicates that consumers do not use the information.
Question 6Profits for a firm are computed as follows: Profits = Total Revenue - Fixed Costs.
Indicate whether the statement is true or false
Question 7The label on a window air conditioner reads uses up to 20 less energy. For what reason is this phrase most likely used?
A) To provide product use information
B) To encourage multiple purchases
C) To promote the product
D) To satisfy legal requirements
E) To encourage the proper consumption patterns of the product
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