Domain 1 Week 1

When brands, manufacturers, and resellers sell their products in bulk to various outlets for onward sale, this is indicative of what kind of sales channel?

• Wholesale

• B2C (Business to Customer)

• Direct to consumer

• Retailer

What type of sales channel involves selling products directly to the end consumer without any intermediaries?

• Direct to consumer

• B2B (Business to Business)

• Wholesale

• Retailer

Which sales channel is characterized by businesses selling products or services to other businesses?

• B2B (Business to Business)

• Direct to consumer

• Retailer

• B2C (Business to Customer)

In which sales channel do retailers purchase products from manufacturers or wholesalers to sell to the end consumer?

• Wholesale

• Retailer

• B2B (Business to Business)

• Direct to consumer

Which three characteristics identify an entrepreneurial mindset? (Choose 3.)

• Responds slowly to change

• Takes risks

• Poor communicator

• Learns from failures

• Creative thinkers

Which three products would be developed by digital production rather than physical production?

• Phone

• E-Book

• Television

• Banner AD

• Social Media Applications

Sole proprietorships have limited liability.

• True

• False

Corporations can raise capital by selling stock.

• True

• False

LLC profits and losses are passed through to the personal income of the LLC owners.

• True

• False

What is a benefit of being an entrepreneur?

• Predictable job-description

• Limitless income potential

• Paid sick time and health insurance

• Consistent 40 hour work weeks