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E1 Midterm Review - CMS Flashcards | StudBud
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E1 Midterm Review - CMS
E1 Midterm Review - CMS
20 terms
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StudBud Administration
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213 plays
A short review of Units 1 & 2 from CMS curriculum.
Flashcards
20 cards
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Practice quiz
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Host live
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Questions
20
Answers
1
Thomas is willing to work long hours, watch spending, and sacrifice a social life. Which trait
objectivity
organization
humility
determination
2
Entrepreneurial discovery is an important process because an entrepreneur can
form a technological monopoly
satisfy an unmet demand
change legal requirements
improve economic sanctions
3
Which of the following is a characteristic of a well-conducting feasibility study
abbreviated
complete
general
subjective
4
Successful entres. enjoy their work & start to share their interests w/others. They have
concerns about
reservations about
passion for
apathy for
5
The primary responsibility of the facilitator of a product idea brainstorming session is to
judge the bad ideas
select the best idea
keept the group on task
evaluate the group's creativity
6
<p>What is a disadvantage of entrepreneurship?</p>
lower taxes
personal satisfaction
uncertain income
fewer resources
7
Identifying new product opportunities ususally requires a person to be
decisive
emotional
aware
indifferent
8
Which is a way a business can determine if a product will fulfill its target market's needs
observe workers
ask the customers
develop a prospect list
<p>distribute promotional materials</p>
9
Which is a tool that an entrepreneur develops to project sales for a new business venture
promotional budget
marketing objectives
sales forecast
inventory report
10
Developing a plan of action is the ____ step in business start up
second
none of the above
third
first
11
Main reason small businesses are promoted & suported by government
they are owned by one person
they are important to the economy
they may become a big business
they serve local communities
12
Which of the following should be included in a business plan's executive summary
the organization's mission statement
the names and numbers of marketing team members
a description of the target market(s)
a SWOT analysis chart
13
A business might take an existing product & alter it to fulfill a specific need for a different
utility
target market
product mix
medium
14
Which of the following is an example of a demographic trend
shifting political climates
rising interest rates
a concern for fitness and health
the aging of the population
15
Variable expenses increase in direct proportion to the increased rate of
motivation
production
competition
automation
16
The costs of operating a business are often called ______ expenses
fixed
overhead
markdown
variable
17
Tough times for Caitlin's business, she is positive, looks at the glass as half full. She is
optimistic
innovative
organized
determined
18
Emotional risks that many entrepreneurs face include
competition and difficult suppliers
marital tensions and family problems
inflation and slow market acceptance
unemployment and uncertain income
19
When using mind mapping, you begin by writing down the main problem or
supporting facts
situation analysis
market opportunity
primary associations
20
When generating new ideas for new businesses, entrepreneurs often look for ways to
rationalize spending
increase liablity
solve problems
control outcomes