Practice Test
Chapter 5:
Retail Market Strategy
Practice Test
1.
Employee pilferage can result in financial loss.
a.
TRUE
b.
FALSE
2.
One type of business risk is known as market segmentation.
a.
TRUE
b.
FALSE
3.
Retailers can use credit to finance their business.
a.
TRUE
b.
FALSE
4.
Employees must obtain safety training on their own time.
a.
TRUE
b.
FALSE
5.
It is not necessary for a retailer to plan in order to be successful.
a.
TRUE
b.
FALSE
6.
Information about customer attitudes is called:
a.
mentalgraphics
b.
demographics
c.
geographics
d.
psychographics
7.
Information about where customers live is called:
a.
locographics
b.
demographics
c.
geographics
d.
metrographics
8.
Three major categories of business expenses are operating, interest, and the following:
a.
balance sheets
b.
profit
c.
cost of goods
d.
retail sales
9.
Winter storms are an example of the following type of risk:
a.
natural risk
b.
weather risk
c.
operating risk
d.
economic risk
10.
Profit is the result of sales deducted by the following:
a.
balance sheet
b.
expenses
c.
loss
d.
demographics
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