Entrepreneurship and Small Business (ESB) Certification Practice Exam

For a teenage girl selling jewelry to females aged 10-14, what is the best price range for her necklaces?

1. Between one- and ten-dollars

2. Between ten- and twenty-dollars

3. Between twenty- and thirty-dollars

4. Between thirty- and forty-dollars

The correct answer is: Between one- and ten-dollars

Selecting a price range between one and ten dollars for the teenage girl selling jewelry is particularly strategic given her target market of females aged 10-14. This age group typically relies on parent or guardian support for purchasing decisions, meaning price sensitivity is a significant factor. When jewelry is priced within this lower range, it becomes more accessible to the younger demographic, allowing these potential buyers to afford the items using their allowance or small savings. Additionally, the psychological perception of price in this range evokes a sense of affordability and impulse buying, which can encourage more frequent purchases among younger consumers looking to express their style through jewelry. Moreover, this price point can foster a repeat purchase behavior as it is manageable for young customers who may want to collect different pieces or match jewelry with various outfits without a significant financial commitment. In this context, the other price ranges, which suggest higher costs, could limit accessibility for the target audience, as most girls in this age group do not typically have a substantial individual income to justify such expenses.