The concept of total product includes how customers describe one’s good or service.
One of the ways harvests take place is through initial public offering or IPO.
The SCAMPER tool is based on the work of Alex Osborne.
An advantage of home businesses is the highly variable income that it produces.
Intangibility, inseparability, and perishability are the three characteristics of services
that impact operations choices and decision making.
Penetration pricing refers to:
A. charging the absolute highest possible price due to inelastic demand.
B. charging different prices to different groups to attract a different demographic.
C. setting a low price in order to get market share.
D. setting a high price to imply that a product is a status symbol.
Which of the following is used when selling to existing customers?
A. Market expansion
B. Market penetration
C. Diversification
D. Vertical integration
Truly entrepreneurial businesses are characterized by:
A. the franchise they are associated with.
B. the degree to which their products are imitative.
C. the novelty in their products, services, or business models.
D. the ease with which their product is accepted by the buyers.
_____ is an alternative for small businesses that are not ready to hire employees, but
have a growing need to meet workload demand.
A. Benchmarking
B. A company Website
C. Outsourcing
D. A Help wanted ad
Which of the following forms of direct response advertising allows very specific
targeting and is appropriate for business-to-business selling?
A. Television
B. Radio
C. Magazine
D. Billboard
Restaurants, clothing retailers, barbers, and beauticians face relatively low risks of loss
from nonpayment because:
A. most customers prefer making upfront payments for such products and services.
B. few people have credit cards which limits their ability to buy products.
C. they only offer credit to loyal customers who they are sure will repay the amount.
D. most of them provide credit only by accepting credit cards, which reduces the risk of
nonpayment.
Which of the following explains the difference between limited partnership and general
partnership?
A. In limited partnerships, all partners are equally liable to the firm’s debt unlike
general partnerships.
B. In limited partnerships, partners incur single taxation on earnings unlike general
partnerships.
C. In general partnerships, whenever the mix of partners is changed, that partnership is
dissolved unlike limited partnerships.
D. In general partnerships, no government permission is required for the setup and
maintenance of business unlike limited partnerships.
In a(n) _____, all partners are equally and fully responsible for the business’s
obligations.
A. C corporation
B. limited partnership
C. general partnership
D. S corporation
Danielle, a graduate in fashion technology, always found it tough to find clothes for her
as she belonged to the category of plus-size. Hence, she launched her clothing brand
Taurus Trends that catered to the needs of plus-size and extremely tall women. Danielle
invited 8-10 plus-size women for coffee so that she could ask them a series of questions
and encouraged them to discuss their shopping experiences among each other as well as
their likes and dislikes about the available apparel choices. Danielle’s research method
is an example of a(n) _____ research.
A. survey
B. ethnographic
C. focus group
D. secondary
According to Graham Wallas’ description of the creative process, ideas begin to flow in
which of the following stages?
A. Preparation
B. Illumination
C. Incubation
D. Verification
The limitations imposed on a business’s property by neighborhood groups are referred
to as:
A. easements.
B. covenants.
C. volatilities.
D. aggrandizements.
A(n) _____ is a middleman business which sells to consumers or end-users of a
product, typically in single or small quantities.
A. manufacturer
B. agent
C. wholesaler
D. retailer
An organization, usually associated with universities, that supports start-up technology
businesses by providing inexpensive office space, a variety of support services, and
resources is called a(n) _____.
A. LLC
B. community development organization
C. small business investment company
D. incubator
_____ means having a way for the person who has failed to meet a metric, or made a
mistake, or is facing firing to have their side of the story heard.
A. Job basics
B. Job metrics
C. Benchmarking
D. Line of appeal
Eddie, the owner of a fast-food joint, finds that he spends far lesser when he bakes
breads in dozens than when he bakes two or three loafs at a time. This idea of Eddie’s is
similar to the concept of:
A. break-even point.
B. economy of scale.
C. economy of scope.
D. monopoly.
Discuss the methods of employee leasing and employee referrals in recruiting.
What are the three primary causes of cash flow problems faced by a small business?
Explain cash flow management using the cash-to-cash cycle.
Briefly describe the stages in a new product development process.
Differentiate direct sales from direct mail.
What are the various pricing strategies that are used in a business to signal great product
quality and to imply that the product is prestigious to own?