Cohort 3 Business IT Mid-Term Review (Units 4-6)

Question 1

Lowes running a sale on shovels during a snow storm , is using the concept of

Accepted Answer

Time utility

Question 2

Individuals have little effect on the overall health of the economy.

Accepted Answer

False

Question 3

This is a test question. What is the name of the game we are about to play?

Accepted Answer

Kahoot!

Question 4

Picture of a famous singer placed alongside clothes designed for teenagers is an example of

Accepted Answer

Visual Merchandising

Question 5

"Freebie" items are not free. The cost can include the labor and resources used to make them.

Accepted Answer

True

Question 6

By definition, a small business

Accepted Answer

has fewer than 500 employees.

Question 7

A small business can thrive, even in a bad economy.

Accepted Answer

True

Question 8

Stores located at beach can charge more for sunscreen because of

Accepted Answer

Place utility

Question 9

Which of the following types of business does not require an attorney to set up?

Accepted Answer

Sole proprietorship

Question 10

Money a company has left over from sale of a commodity after all costs are paid is

Accepted Answer

Profit

Question 11

What happens in one sector of the economy often affects other sectors of the economy.

Accepted Answer

True

Question 12

Global business involves the buying and selling of products or services between countries.

Accepted Answer

True

Question 13

A company should focus all its marketing efforts on what particular group of people?

Accepted Answer

Target Market

Question 14

All of the following are examples of content marketing EXCEPT:

Accepted Answer

a video

Question 15

At what point in a product’s life cycle do companies typically expand their product mix?

Accepted Answer

Growth

Question 16

Global business is ANY commercial transaction that crosses the border of two or more nations.

Accepted Answer

True

Questions 16