Entrepreneurship

Front

Two types of business partnerships are: contractual and fiduciary, cooperative and interdependent, general and limited, contractual and cooperative.

Back

general and limited

Front

Which form of business organization is looked upon as being an artificial entity, separate from its owners? Options: sole proprietorship, partnership, corporation, cooperative

Back

corporation

Front

The parent of a preschool-aged child wants to start a home-based business using the simplest form of business organization. Which type of business organization will this person utilize?

Back

sole proprietorship

Front

Information that provides facts and figures from which conclusions can be drawn is called _______ data.

Back

quantitative

Front

Which statement illustrates the analysis step of the research process? Options: investigating data to identify market trends, following through with recommendations to check for implementation, identifying problems a business is having, developing a plan to solve business problems

Back

developing a plan to solve business problems

Front

A business conducts a SWOT analysis to decide whether to expand into Country ABC. Which of the following is represented by the "O" in SWOT? Options: Any of the business's current employees speak the language of Country ABC and have knowledge of the local market., Government instability will make it risky to operate in Country ABC., Country ABC has a skilled workforce and lower minimum wage., The business has limited experience managing international expansion.

Back

Country ABC has a skilled workforce and lower minimum wage.

Front

When a company decides to improve features of a product by developing a newer, more up-to-date version, they have conducted the marketing function known as

Back

product and service management

Front

Determining the best marketing strategy starts by asking what question? Options: Who is the target market?, Why is the product better than others?, How much should the product cost?, What is the best choice for advertising the product?

Back

Who is the target market?

Front

Discovering what people want, how and when they want it, the price they are willing to pay for it, how to get it to them, and how to tell them about it is known as

Back

marketing

Front

A sales forecast can help a retailer

Back

accurately plan for the upcoming holiday season