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TLE6 Second Quarterly Assessment Mock Test

Instructions: Choose the best answer for each question.

Part 1: Identifying Sellers and Buyers

1. Which of the following is a type of seller who sells directly to consumers?


a) Wholesaler
b) Retailer
c) Manufacturer
d) Distributor

2. A company that purchases office supplies for its employees is considered a:


a) Consumer
b) Business
c) Retailer
d) Wholesaler

3. What is the primary goal of a seller?


a) To provide the highest quality products
b) To offer the lowest prices
c) To make a profit
d) To satisfy all customer needs

4. What is one important factor that buyers consider when making a purchase?
a) The seller's reputation
b) The product's price
c) The product's quality
d) All of the above

Part 2: Producing Simple Products

5. What is the first step in the production process?


a) Gathering materials
b) Designing the product
c) Identifying a need
d) Marketing the product

6. What is the purpose of quality control in production?


a) To ensure the product is safe and meets standards
b) To increase the price of the product
c) To make the product more attractive to buyers
d) To reduce the time it takes to produce the product

7. Which of the following is NOT a typical step in producing a simple product?


a) Idea generation
b) Research and development
c) Packaging
d) Quality control
Part 3: Buying and Selling Products

8. What is the main goal of marketing in the buying and selling process?
a) To increase the price of the product
b) To attract buyers and create demand
c) To reduce the cost of production
d) To improve the quality of the product

9. Which of the following is a common method of payment for buyers?


a) Bartering
b) Credit card
c) Cash
d) All of the above

10. What is the role of customer service in the buying and selling process?
a) To help sellers find new customers
b) To determine the price of the product
c) To design and produce the product
d) To provide support to buyers after they purchase a product

Part 4: Needs vs. Wants

11. Which of the following is an example of a WANT?


a) A new pair of shoes
b) A subscription to a streaming service
c) A new car
d) A new house

12. Why is it important for businesses to understand the difference between needs and wants?
a) To determine the price of their products
b) To know what types of products to offer
c) To decide how to advertise their products
d) All of the above

13. Which of the following is NOT a product that people typically NEED?
a) Food
b) Clothing
c) A car
d) Medicine

Part 5: Products and Services

14. Which of the following is an example of a SERVICE that people WANT?


a) A haircut
b) Healthcare
c) A new phone
d) A new bike
15. What is the main goal of businesses when offering products and services?
a) To make a profit
b) To help people
c) To create jobs
d) To improve the community

16. Why is it important for businesses to market and promote their products and services?
a) To let people know they exist
b) To convince people to buy their products
c) To build a brand image
d) All of the above

Part 6: Customer Satisfaction

17. What is the most likely reason a customer would return to a business for more purchases?
a) The business offers low prices
b) The business has a convenient location
c) The customer is satisfied with the product or service
d) The business has a good reputation

18. How can businesses ensure customer satisfaction?


a) By offering high-quality products and services
b) By providing excellent customer service
c) By understanding and meeting customer needs
d) All of the above

Part 7: Application

19. Imagine you are starting a small business selling homemade cookies. How would you use the
information about needs and wants to help you succeed?

20. Give an example of a product or service that meets both a need and a want. Explain your
reasoning.

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