Entrepreneurship
Entrepreneurs often conduct market research before launching a product. The MAIN purpose of this research is to:
A. Understand customer needs and preferences
B. Increase production costs
C. Copy competitors directly
D. Avoid creating a marketing plan
A. Understand customer needs and preferences
Jackie is a manager with the SDP Company and is establishing a systematic way for her department to complete a long-term assignment. What function of management is Jackie carrying out?
A) Controlling
B) Staffing
C) Leading
D) Organizing
D) Organizing
Useful marketing information often helps businesses to:
A) Decrease sales
B) Develop ethics
C) Solve problems
D) Prevent competition
C) Solve problems
Since Sophia was born, her grandparents invested $100 each year on her birthday. Now at 18, the investment can cover most of her college costs because it grew in two ways: by earning interest and by earning interest on that interest. This is an example of:
A. simple interest.
B. present value.
C. inflation.
D. compound interest
D. compound interest
Stefan decides to invest a sum of $1,200 into one of his favorite stocks that typically earns 9% or more each year. If the stock earns 9% this year, what will be the total value of his investment?
A. $1,200
B. $1,308
C. $1,420
D. $1,080
B. $1,308
Riley wants to start a mobile detailing business, but doesn’t have enough money for equipment. A local bank offers her a small business loan with a clear repayment schedule. What is one advantage of using this option?
A. She must give up partial ownership
B. She loses control over business decisions
C. She must share profits with the bank
D. She keeps full ownership while accessing needed funds
D. She keeps full ownership while accessing needed funds
Rowan is preparing a personal property inventory. He should:
A) Include generic descriptions
B) Exclude garages and sheds
C) Include receipts for purchases
D) Exclude family heirlooms and photographs
C) Include receipts for purchases
Public-relations promotions can help businesses to handle controversial situations by:
A. emphasizing product features.
B. promoting a brand.
C. influencing consumers' attitudes.
D. stimulating product demand.
C. influencing consumers' attitudes.
Companies A and B are hiring for similar jobs. Company A offers $50,000, while Company B offers $45,000 plus a 10% retirement contribution after one year. Which type of employee would benefit most from choosing Company B?
A. A person who is very skilled at making investments
B. Someone who will work less than one year
C. Someone who is not personally disciplined to save for retirement
D. A person who is personally disciplined to save for retirement
C. Someone who is not personally disciplined to save for retirement
Which of the following factors affects society's basic values and behaviors that influence their buying decisions:
A. Environmental
B. Economic
C. Cultural
D. Political
C. Cultural
Alex is developing a new tech product. An investor offers $50,000 in exchange for a percentage of future profits, but Alex doesn’t want to surrender ownership or long-term control. What type of funding would better fit his needs?
A. Equity financing
B. Angel investment
C. Bootstrapping or debt financing
D. Venture capital
C. Bootstrapping or debt financing
To help meet a sudden increase in demand, businesses should make sure to have a _______ inventory.
A) Transit
B) Perpetual
C) Just-in-time
D) Buffer
D) Buffer
What is the relationship between the elements of the marketing mix and marketing strategies?
A. Development of effective marketing strategies requires consideration of the marketing mix elements.
B. The marketing mix elements enable marketers to change marketing strategies frequently.
C. The marketing mix elements enable marketers to avoid changing marketing strategies.
A. Development of effective marketing strategies requires consideration of the marketing mix elements.
Jamal earns $60,000 a year, and his employer lets him choose between a higher salary with no health insurance or a slightly lower salary with full health, dental, and HSA benefits. Jamal has a chronic medical condition that requires regular care. Which option is the best financial choice for him?
A. Take the higher salary and pay medical costs himself
B. Choose the lower salary with full insurance and HSA
C. Buy private insurance on his own
D. Take the higher salary and rely on emergency care
B. Choose the lower salary with full insurance and HSA
When a country is experiencing a recession, which of the following typically occurs first:
A. Stock prices increase
B. A stock market crash
C. A stock market recovery
D. Stock prices decrease
D. Stock prices decrease