Principles of Business 1301

Front

Your company wants to sell shirts with the local college’s logo. Which type of agreement would allow your company to sell them?

Back

licensing agreement

Front

Fixed costs depend on the monthly changes in business revenue.

Back

False

Front

An individual who will invest in a startup business in exchange for equity is called a Angel investor

Back

True

Front

Which type of entrepreneurship specifically focuses on solving problems in communities?

Back

social venture

Front

A competitor creates new technology

Back

threat

Front

What is another name for income statement?

Back

profit and loss statement

Front

You are trying to minimize start up costs for your company. Which option would be the most inexpensive marketing method?
Options: direct mail marketing, influencer marketing, social media marketing

Back

social media marketing

Front

When creating a minimum viable product, it is necessary to consider the key metrics and indicators that will be used to measure success.

Back

True

Front

You own a business that manufactures pool chairs. For each pool chair, you determine the following:
- Labor: $40
- Materials: $100
- Desired markup: 40%
What should your selling price be?

Back

Selling price = Cost + Markup = (Labor + Materials) + (Desired markup * (Labor + Materials)) = (40 + 100) + (0.4 * (40 + 100)) = 140 + 56 = $196

Front

A viable business opportunity must have investors.

Back

False