Multiple Choice Questions:

1. Because you want to lose weight and tone your muscles, you give the manager free meals at your restaurant in exchange for a six month membership in a local gymnasium. You now have the right to exercise and use the gym equipment anytime the facility is open. This transaction is an example of a(n)

A. exchange

B. resourceless transaction

C. self-sufficient transaction

D. coercive transaction

E. barter transaction

2. Which of the following is NOT a necessary condition for marketing exchange to take place?

A. Two or more social units must be involved

B. Each party to the exchange must have wants to be satisfied.

C. The parties to the exchange must be able to communicate with each other

D. Both parties must have something of value to contribute to the exchange

E. One of the parties to the exchange must benefit more than the others

3. Which of the following is an example of a marketer?

A. a door-to-door salesperson

B. an auctioneer

C. a person selling a used car in the classified ads

D. the American Red Cross

E. all of the above

4. Which of the following is NOT an example of a product?

A. a recipe book for Southwestern cuisine

B. an idea for a sequel to Moby Dick

C. cookies you made for your neighbor

D. a college class

E. all of the above

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