Vanderbilt got his start in this industry prior to becoming a railroad tycoon.
Steamboat
200
Name one advantage to the sole proprietor business structure?
Easy, Cheap, Control 100 percent of decision making.
200
What portion of US farm output is exported?
One fourth
200
The process of learning as much as possible about the prospect, including needs, who is involved in the buying, and characteristics and styles of the buyers.
Pre Approach
200
Name two objectives of advertising?
Shift Demand
Change Elasticity of Product
300
Who was the Entrepreneur who led a parade across the Mississippi bridge led by an elephant?
Carnegie
300
Name the biggest risk of being a sole proprietor?
Unlimited personal Liability
300
What is the definition of trade balance
Value of a nations Exports- Value of a nations Imports
300
involves identifying good customers and screening out poor ones by looking at factors such as financial ability, volume of business, and needs.
Qualifying
300
Which Industry Spends the greatest amount on Advertising when measured as a percent of sales?
Breakfast Cereals
400
Rockefeller chose this name for his company because it described the uniform consistency for his kerosene.
Standard Oil
400
Name one problem associated with partnership agreements
Conflict
Liability
400
Calculate the trade balance for the following:
US Exports to Bulgaria 2 B US imports from Bulgaria 1 B
+1 B
400
The most important attribute for a salesperson
Listen
400
What are three types of Utility
Time, place, Form
500
Rockefeller benefited from this type of exclusive market structure in the oil Industry
Monopoly
500
What types of corporations are NOT subject to double taxation?
S-Corps, LLC
500
Calculate the US trade balance for the following:
US exports to Mexico 10B US Imports from Mexico 15B
-5
500
While listening is the most important attribute for a salesman buyers also appreciate this characteristic