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Entrep Semester 1 Review
Entrep Semester 1 Review
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entrepreneurship semester exam
Flashcards
15 cards
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Practice quiz
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Host live
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Questions
15
Answers
1
How can new business owners find a potential site for their business?
by networking
look in newspapers
all of the above
go through a realtor
2
Statistical data that describes a given market by certain criteria is called
demographics
outsourcing
consumers
potential customers
3
What is a major risk to entrepreneurship?
uncertain income
long hours
risking your investment
all of the above
4
A series of related promotional activities with a similar theme is called
a campaign
media advertising
a promotion
publicity
5
A floor plan that shows a business interior and exterior is called a
facade
layout
trademark
franchise
6
How can you make up revenue lost due to selling at low prices
sell less
sell more
increase price
decrease price
7
When a business is looked upon as having a good reputation it's said to have what?
goodwill
success
none of the above
prestige
8
When demand for a product is low and supply is high, your price should be set
even
low
odd
high
9
Hiring other companies to handle tasks that a business cannot handle itself is called
outselling
outsourcing
cheating
downsizing
10
If a community has more money coming in than leaving it is said to have a
good community
favorable economic base
positive economy
strong market
11
Setting prices as odd numbers is a strategy that is supposed to suggest
a bargain
higher quality
low quality
a sale
12
The quantity of goods & services that consumers are willing to buy is called
outsourcing
supply
demand
target market
13
A binding legal agreement between 2 or more parties is called a
negotiation
pinky swear
contract
deal
14
Product, place, price, promotion and people make up the
marketing mix
marketing strategy
price strategy
promotion mix
15
ADIA refers to which process?
the distribution process
the buying process
the selling process
the marketing process