What are the 4 Ps of Marketing?

Product, Price, Place, Promotion

What is a stock holder?

A person who owns a share of a corporation.

What is an entrepreneur?

A person who starts, owns, and manages their own business.

A symbol that identifies a business

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Business Foundations Entrepreneurship Review Questions

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Questions 17

Answers

1
A market economy is an economic system in which the government determines production, investment, prices, and income.
True
False
2
When is a break even point reached?
Overhead > Wages
Total Revenue = Total Costs
Total Revenue < Total Costs
Wages = Total Revenue
3
A salesperson should NOT sell their products by stating its
Features
Facts
Benefits
Defects
4
What is an example of a business risk?
Yearly earnings are greater than projected
Business purchases insurance
Damage from natural disasters
Customer survey reveals an issue that the company must fix
5
Which of the following is NOT a good trait of an entrepreneur?
Motivation
Creativity
Pessimism
Risk Tolerant
6
What is a disadvantage of being a sole proprietor?
Can't make decisions on your own
Greater tax liability
Unlimited personal liability
Heavy regulation
7
What is an example of a fixed cost?
Gas for Car
Utilities
Rent
Groceries
8
Embezzlement is an example of which type of theft?
Double-sided
External
Petty
Internal
9
What are the 4 Ps of Marketing?
Product, Pioneer, Play, Plan
Product, Price, Place, Promotion
Promotion, PVC, Professional, Prudent
Plan, Price, People, Product
10
Which type of competitor offers a slightly different product or service that satisfies the same need?
Outsourced competitor
Direct competitor
Indirect competitor
Copycat competitor
11
Which is NOT an example of a type of demographic?
Lifestyle
Gender
Race
Age
12
What is a stock holder?
A person who owns a share of a corporation.
A person who owns a corporation's bonds.
A person who has a savings account.
A person who purchases a business's products.
13
What is an entrepreneur?
A person who works for someone else.
A person who travels for fun.
A person who plans their career path.
A person who starts, owns, and manages their own business.
14
Which of the following is considered when choosing a location for your business?
All of the above
Location of the competition
Parking availability
Nearby stores
15
What is a logo?
A symbol that identifies a business
A phrase or jingle
A sign on the front window
A discount on merchandise
16
How is net income calculated?
Revenue + Expenses
Stock Price / Earnings per Share
Revenue - Expenses
Expenses - Revenue
17
A purpose of a business plan is to create an effective strategy for growth.
True
False

Business Foundations Entrepreneurship Review Questions Flashcards | StudBud