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Researchers in the field of entrepreneurship and small business believe that _____
behavior is the most basic and important entrepreneurial behavior.
A. opportunity recognition
B. idea networking
C. observational
D. question-seeking
An industrial plant needs to make 100,000 parts per month to meet demand. Each
month contains 20 working days, each of which allows for 3 separate 8 hour shifts.
a. If a worker can produce 10 parts/hour, how many workers are needed on each shift?
b. If each shift has 100 workers, what is the productivity of an individual worker?
c. If material costs are $10/part, capital costs are $100,000 and labor costs are $10/hour,
what is the multifactor productivity of the plant from part A?
Henry Ford is noted for his contributions to
A) material requirements planning
B) statistical quality control
C) assembly line operations
D) scientific management
E) time and motion studies
Which is not true regarding differences between goods and services?
A) Services are generally produced and consumed simultaneously; tangible goods are
not.
B) Services tend to be more knowledge-based than goods.
C) Services tend to have a more inconsistent product definition than goods.
D) Goods tend to have higher customer interaction than services.
E) None of the above is true.
Which of the following statements is true about effective writing?
A. Multiple ideas should be included within a single sentence to keep your readers
engaged.
B. The use of unfamiliar words helps in capturing the readers interest and increases the
effectiveness of a message.
C. In order to write effectively, the use of active voice should be avoided.
D. Complex sentence structures are required to convey the importance of a message.
Which of the following is true of entrepreneurial alertness?
A. It allows entrepreneurs to launch a formal search for opportunities.
B. It allows entrepreneurs to notice things that have been overlooked.
C. It gives entrepreneurs the experience required to start a small business.
D. It is an approach that allows entrepreneurs to do more or less what others do.
Sandra has a product idea. She has researched about all the competing products and the
companies that produce them. The research helps Sandra to address which of the
following aspects of the I2P analysis?
A. The market and its size
B. The extent of IP protection for the idea
C. The initial set of customers
D. The royalty that the product is likely to generate
Where there are competing products in a particular market, entrepreneurs can get an
idea of the market size.
Which of the following is the idea trigger for the substitute" cue of the SCAMPER tool?
A. The opportunities that come as a result of replacing something that already exists
B. The separate products, services, or whole businesses that can be put together to
create another distinct business
C. The products or services that can be imitated from other industries or fields
D. The factor that can be used to make a product different from that of competitors
products
When applied to paragraph structure, unity means that a paragraph sticks to a single
topic or idea, with everything in the paragraph developing this topic or idea.
Violations of unity in sentence constructions are usually caused by:
A. unrelated ideas.
B. the use of active verbs.
C. the use of active voice.
D. elimination of two-word verbs.
E. elimination of cluttering phrases.
Which of the following sentences uses a redundant word?
A. The old man kept talking about his past history.
B. We can finish the report now.
C. Please sign this check.
D. We must assemble here tomorrow.
E. This sheet is longer than that old one.
The marketing functions main concern is with
A) producing goods or providing services
B) procuring materials, supplies, and equipment
C) building and maintaining a positive image
D) generating the demand for the organizations products or services
E) securing monetary resources
In an attempt to become more innovative, a major pitfall that business owners are most
likely to become victim to is:
A. judging ideas slowly.
B. asking for support after failing the first time.
C. obeying all the rules to get investors.
D. using the first good idea as a business opportunity.
The first good idea is rarely the best. Stopping with the first good idea is one of the five
major pitfalls that business owners become victim to when trying to become more
innovative.
The measure of how many visitors to a Web site actually make a purchase is known as:
A. illumination rate.
B. frame rate.
C. conversion rate.
D. pilot test.
Conversion rate is the measure of how many visitors to a Web site (or people who click
on an online advertisement) actually make a purchase.
The future action plan component of the feasibility study includes which of the
following elements?
A. Profitability
B. The competition
C. Legal restrictions and rights
D. Writing a business plan
According to Graham Wallas description of the creative process, the _____ stage of a
creative thought involves exploring the problem or opportunity in all directions.
A. illumination
B. incubation
C. preparation
D. verification
