Entrepreneurship
The entrepreneurial discovery process that involves finding a way to meet an existing demand by inventing new products from available resources is based on
A. science.
B. medicine.
C. psychology.
D. physics.
A. science
The following appeared on a recent survey: "Do you agree that the government wastes taxpayers' money by supporting unnecessary programs?" This is an example of a(n)
A. open-ended inquiry.
B. indifferent statement.
C. leading question.
D. unstated alternative.
C. leading question.
Justin is trying to decide whether he wants to spend a $50 birthday check on a new video game or tickets to a concert. If he chooses the video game, what is the opportunity cost of this decision?
A. Birthday check
B. Video game
C. Concert tickets
D. $50
C. Concert tickets
A coffee shop wants to appeal to young, technology-savvy consumers. To appeal to this demographic, the business should consider
A. instituting a minimum amount for credit card payments.
B. accepting mobile credit card payments.
C. gathering analytics from credit card payments.
D. purchasing a receipt printer.
B. accepting mobile credit card payments.
When preparing her company's budget, Tatiana's manager told her that the company would be merging with another company. To maintain her ethics, Tatiana should
A. report this information to the SEC.
B. make sure the merger benefits the public interest.
C. maintain her independence.
D. keep this information confidential.
D. keep this information confidential.
5. What type of software do many businesses require be installed on computer systems as a security feature?
A. Reality
B. Firewall
C. Spider
D. Media
B. Firewall
What does a business need in order to understand why a successful product is suddenly losing popularity?
A. Purchasing documents
B. Sales records
C. Secondary data
D. Marketing information
D. Marketing information
Which of the following international financial institutions provides financing and advice to countries to encourage economic development:
A. Commonwealth of Nations
B. Small Business Administration
C. World Bank Group
D. Liberty Institute
C. World Bank Group
Which of these lodging services would most likely be automated using software:
A. Registration
B. Concierge
C. Room setup
D. Sales forecasting
A. Registration
Which of the following is an example of receiving tacit knowledge:
A. "Shadowing" a person in your desired career
B. Reading a history textbook
C. Listening to an instructor's lecture
D. Following a recipe
A. "Shadowing" a person in your desired career
Dan is in the process of determining the types of computer software and telephone service that will best suit his new business and get it up and running. Dan is considering his business's
A. financial constraints.
B. technical needs.
C. competitive advantage.
D. staffing requirements.
B. technical needs.
Interest rates rising and falling by a wide range on a regular basis often are an indication of
A. price equilibrium.
B. seasonal unemployment.
C. flexible capital.
D. economic instability.
C. flexible capital.
Which of the following has contributed to financial globalization:
A. An increase in restrictions on foreign investment and international trade
B. An increase in taxes on international financial transactions
C. A reduction in foreigners' access to domestic financial markets
D. A movement from fixed exchange rates to floating exchange rates
D. A movement from fixed exchange rates to floating exchange rates
Which of the following is a website that is likely to provide statistical tourism information for a specific destination:
A. The local chapter of the American Marketing Association
B. The Farmer's Almanac
C. Transportation Security Administration
D. The local chamber of commerce
D. The local chamber of commerce
Which component of project-management software helps project managers determine the length of time that a series of interdependent tasks will take to complete under various circumstances:
A. Demonstration
B. Critical path
C. Presentation
D. Linear
B. Critical path
To determine their human resource needs, new business owners often find it helpful to
A. list all the tasks involved in operating the business.
B. ask a technical recruiter for advice.
C. hire consultants or freelancers.
D. allocate funds for additional payroll taxes.
A. list all the tasks involved in operating the business.
The data needed for sales volume analyses and market share analyses come from
A. sales invoices.
B. expense reports.
C. company sales reports.
D. customer records.
C. company sales reports.
Yazmin earned $5,000 from her summer job. If she invests it at a rate of 5%, how much will it be worth in two years?
A. $5,025.50
B. $10,250
C. $5,500
D. $5,512.50
D. $5,512.50
What type of market segmentation would be appropriate to use when a hotel targets people who are traveling with their pets?
A. Behavioral-benefits sought
B. Psychographic-social class
C. Demographic-gender
D. Mass market
A. Behavioral-benefits sought
After providing the stakeholders with the project deliverables, Lisa analyzed and documented the project's actual results with the initial project goals. What did Lisa do?
A. Prepare a lessons-learned report
B. Conduct a post-implementation review
C. Develop a project-issues log
D. Compose final delivery instructions
B. Conduct a post-implementation review
Which of the following statements is true about business startup requirements:
A. New business owners usually need to register for patent protection.
B. The financial needs to start a new business depend on the nature of the venture.
C. Purchasing a franchise is usually easy and inexpensive for startup business owners.
D. Equipment is the least expensive requirement for a startup business.
B. The financial needs to start a new business depend on the nature of the venture.
A producer can minimize channel conflict among its distributors and retailers by
A. selling its items directly to the end users.
B. offering different products through each channel.
C. establishing slotting fees for certain channels.
D. requesting that the channel members carry only its brand.
B. offering different products through each channel.
When preparing a statement of changes in an owner's equity document, which of the following are specifically represented on the statement:
A. New investments by the owner
B. Property taxes paid by the owner
C. Depreciation of company assets
D. Lost revenue due to discharged debt
A. New investments by the owner
Last year's quarterly sales for Mountain High Ski Resort were as follows: 1st Quarter: $652,276; 2nd Quarter: $947,550; 3rd Quarter: $423,835; 4th Quarter: $345,766. What does the data reveal about the resort's sales?
A. The fourth quarter's sales indicate that the resort is experiencing financial problems.
B. The resort's peak season occurred during the second quarter.
C. The resort failed to meet its annual sales objectives.
D. The combined first and third quarter revenues are over half of the resort's annual sales.
B. The resort's peak season occurred during the second quarter.
Which of the following is an example of employee pilferage:
A. Hacking into a competitor's computer network to obtain trade secrets
B. Changing the amount specified on a check you prepare for the company with authorization
C. Installing personally owned software on your workplace computer
D. Padding an expense account
D. Padding an expense account