Hi,

Here is exactly how the document looks (see below). There are some matching
questions at the beginning, too, and essay questions at the end. I can do
some pre-formatting of the document if that makes it easier to run a macro.
This is a shortened version. Most of the tests have about 33 questions total,
so there would be more matching, true/false, and multiple choice questions,
numbered from 1-33. The only extra paragraph mark is between the end of the
test questions and the beginning of the answer key. Thanks for your help.

Chapter Title
Name   
Date    Period    Score   
Chapter 3 Test
Matching: Match the following terms and identifying phrases.
    1.    People who buy and use finished products.
    2.    The process of finding or creating a profitable market for specific
goods or services.
    3.    Intangible activities or benefits that are performed and have value.
A.    business cycle
B.    competition
C.    consumers
True/False: Circle T if the statement is true or F if the statement is false.
T    F    4.    Fashion-related businesses are crucial to the U.S. economy through
the materials and services they buy, produce, and sell, and the wages and
taxes they pay.
T    F    5.    Goods are either products or services.
T    F    6.    In a free-market system, companies with products to sell can charge
any price and sell to anyone willing to pay that price.
Multiple Choice: Choose the best response. Write the letter in the space
provided.
        7.    Retailers are companies that _____.
A.    make goods
B.    sell merchandise in small quantities to consumers
C.    offer products for sale to industrial businesses
D.    sell goods in bulk to limited numbers of customers
        8.    In a free-market system, _____.
A.    the government and individuals make key economic decisions equally
B.    people freely choose what to buy in the marketplace
C.    there is heavy government control of what is bought and sold
D.    None of the above.
        9.    When there is more competition, _____.
A.    the profits per item sold are lower for the businesses involved
B.    products tend to be of a higher quality and more innovative
C.    prices for similar products are lower for customers
D.    All of the above.
Essay Questions: Provide complete responses to the following questions or
statements.
    10.    Describe the market structures of pure competition and monopoly.
    11.    List at least three advantages and three disadvantages of the corporate
form of business ownership.
    12.    Briefly explain the four main elements of a marketing mix.

Chapter 3 Test
    1.    C
    2.    E
    3.    I
    4.    T
    5.    F
    6.    T
    7.    B
    8.    B
    9.    D
    10.    Pure competition is a market structure in which no company in an
industry is extremely large or powerful enough to influence or control
prices. Monopoly is a market structure in which there are no direct
competitors in an industry; one company controls it.
    11.    (See 3-11 in the text under “Corporation.”)
    12.    product: bringing the goods and/or services that are in demand into
existence and to the market; price: pricing the products at the level that
maximizes overall profits; place: how and where products are offered to
customers; the distribution of selling and delivery into the hands of
customers; promotion: nonpersonal activity to a large audience that furthers
the sale of goods or services