_____ refers to the size of the market, whereas _____ refers to the geographic range
covered by the market.
A. Scope; scale
B. Mass; niche
C. Scale; scope
D. Niche; mass
_____ is the degree of attention a target market pays to an idea or organization.
A. Crowdfunding
B. Effectuation
C. Mindshare
D. Crowdfunding
Which of the following best describes the problem that arises when people have
multiple responsibilities and each makes different demands on them?
A. Role conflict
B. Succession issues
C. Strategizing challenges
D. Leadership constraints
Which of the following is a problem associated with secondary research?
A. It is expensive.
B. It is time-consuming.
C. It includes data that may not be timely.
D. It requires multiple researchers to design questions.
Which of the following is a characteristic of a high-growth venture?
A. It pursues low levels of professionalization.
B. It levels off after operations settle into a consistent, money-making pattern.
C. It aims to achieve growth rates of 25 percent or more a year.
D. Its success is defined by sales of between $100,000 and $1,000,000 annually.
Which of the following is true of financing small businesses?
A. There are several resources available for financing start-ups.
B. Funding is only important when a business is just starting.
C. A business has fixed financial goals in all stages of its development.
D. The most popular source of financing for start-ups is from commercial banks.
Purchasing a car with a warranty is most likely to be an example of a _____.
A. pure good
B. good-dominated product
C. pure service
D. hybrid good
Which of the following is true as an advantage of businesses run by a group of
tight-knit family members?
A. Succession issues don’t crop up in family-owned businesses.
B. Role conflicts never happen in family owned businesses.
C. Board of members is not used in family-owned businesses.
D. Communication-based integration is most effective in family-owned business.
_____ price is a minimum acceptable selling price in an auction.
A. Absolute
B. Reserve
C. Forward
D. Small-value
A service typically exhibits the characteristic of _____ because if it is not used when
offered, it cannot be saved for later use.
A. perishability
B. tangibility
C. absorptivity
D. homogeneity
The process of determining the effect of price and quantity changes on revenues and
expenses refers to:
A. accounting analysis.
B. variance analysis.
C. pro forma budgeting.
D. financial flexibility.