Which of the following is a reward universally mentioned by entrepreneurs?
A. Peer admiration
B. Personal growth
C. Political power
D. Industry recognition
In bonus pack pricing strategy:
A. lower prices are charged at certain times to encourage customers to come during
slack periods.
B. more than one unit of the same product are combined and sold at a low price.
C. products are sold at different price points to attract the low-, mid-, and high-end
customers.
D. the base item is sold at a low price and the necessary supplies are sold for a high
price.
Trendiness refers to:
A. a concept in public interest which alludes to events with a broad appeal within the
market or population.
B. a concept in public recognition which alludes to the impact level of the issue being
discussed.
C. a concept in public interest which alludes to the graphic interest held by an event.
D. a concept in public recognition which alludes to the fit of the topic to current fashion
or public interest.
Which of the following is true of the introduction stage of a product?
A. Sales are almost always high.
B. Most customers are unaware of the offerings.
C. Firms begin to compete on features and prices.
D. Some products turn out to be extremely popular.
Which of the following statements is true regarding the Fair Credit Reporting Act?
A. It requires that consumers investigate and directly report any inaccuracies to the
source of the inaccurate information.
B. It provides CRAs with a period of one year to investigate cases of inaccurate
information.
C. It requires that CRAs independently confirm information.
D. It requires that the CRA forward copies of all relevant information to the source of
the inaccurate information.
When a person happens to be at the right place at the right time resulting in a successful
business idea, which of the following would be considered to be the factor that led to
the business idea?
A. Family and friends
B. Education and expertise
C. Serendipity
D. Personal interest
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
Which of the following is an advantage of using an imitative strategy?
A. It allows entrepreneurs to do something that is very different from what others are
doing.
B. It allows business owners to buy existing technologies.
C. It allows entrepreneurs to fit their businesses to their own ideas and preferences.
D. It allows business owners to create unique settings.
Which of the following is an advantage of personal selling?
A. It helps in easily establishing and promoting a favorable opinion by the media.
B. It helps business owners in generating finance for their business.
C. It allows business owners to find out the buyers’ main concerns and address them.
D. It increases business owners’ publicity.
Which of the following statements about small businesses high in social capital is true?
A. They are given the benefit of the doubt when problems occur.
B. They are less trusted than businesses that are low in social capital.
C. Their balance sheets will fail to appeal to investors.
D. They are checked up on by regulators frequently.
Which of the following is most likely to be the best indicator of successful start-ups?
A. Level of experience of the founders
B. Social background of the founders
C. Financial background of the founders
D. Specific educational courses taken by the founder
Which of the following is a major component of a classic business plan?
A. Invention plan
B. Proof-of-concept Web site
C. The financials
D. Private placement memorandum
Cognition:
A. is a person’s way of perceiving and thinking about his or her experience.
B. refers to successful entrepreneurial behavior that leads to the creation of a new firm.
C. pertains to the feeling of being absorbed by the tasks and concerns of the business.
D. does not help in making any managerial decisions.
Which of the following statements is true of telemarketing?
A. Outbound telemarketing is the result of direct response advertising.
B. It is the least expensive form of direct marketing.
C. It is found to be a very annoying form of marketing to most customers.
D. Inbound telemarketing involves the company calling customers.
Zoruski Inc., a manufacturer of leather furniture, is facing problems with pricing its
products in the Asian market. Due to the presence of several middlemen in its
distribution channel, the prices of furniture rise up to three times from what they are
sold at in the home market. This problem faced by Zoruski Inc. is typically referred to
as _____.
A. price bundling
B. price escalation
C. price discrimination
D. loss leaders
There are two general sources of gift financing:
A. institutional and personal.
B. friends and family.
C. consumer and commercial banks.
D. angel and venture investors.
Crowdfunding refers to:
A. approaching several foundations to acquire grants to fund a business.
B. approaching several commercial banks to fund a business.
C. funding a business through partnerships with several companies.
D. funding a business online through gifts made to the business.
Proximity refers to:
A. a concept in public interest which alludes to events with a broad appeal within the
market or population.
B. a concept in public recognition which alludes to the impact level of the issue being
discussed.
C. a concept in public interest which alludes to the graphic interest held by an event.
D. a concept in public recognition which alludes to the fit of the topic to current fashion
or public interest.
Which of the following is the last step in crafting a job description?
A. Writing job overviews
B. Writing special requirements
C. Writing credentials and experiences
D. Writing duties and responsibilities