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Small Business Opportunities & Becoming an Informed Consumer Flashcards | StudBud
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Small Business Opportunities & Becoming an Informed Consumer
Small Business Opportunities & Becoming an Informed Consumer
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Opportunities in Small Business & Becoming an Informed Consumer review.
Flashcards
24 cards
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Practice quiz
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Questions
24
Answers
1
Which of the following is NOT part of the definition of entrepreneurship?
organizing a business
long term management.
starting a business
assuming responsibility
2
A type of advertising that originates with the consumer is
customer service departments.
social media.
word-of-mouth.
labels.
3
The U.S. Department of Agriculture (USDA) publications specialize in information NOT about
improving nutrition.
judging food quality.
buying food wisely.
driver safety.
4
Your standard of living is determined more by how wisely you spend than by how much you earn.
False
True
5
Consumers pay for services each time except when they go to
a dentist.
a car wash.
a movie.
a flea market.
6
Which of the following is one of the reasons why small businesses fail?
The owner has a lack of sales and management experience.
The owner allows customers to charge purchases.
The owner has satisfied customers.
The owner is an immigrant.
7
Which of the following is NOT true about the Small Business Administration (SBA)?
It can help small businesses borrow money.
It is a government agency.
It offers little help to women business owners.
It publishes helpful books for small-business owners.
8
Someone who takes a risk in starting a business to earn a profit is
a millionaire.
a business tycoon.
an entrepreneur.
a daredevil.
9
Which of the following is not true about small businesses?
They are all very similar.
Many begin through a franchise agreement.
Many eventually become corporations.
Most begin as sole proprietorships.
10
Special programs offered to small-business owners by colleges and universities are known as
SCOREs.
SBQs.
SBIs.
SBAs.
11
When a company does not have enough money & other assets to pay its creditors, the situation is
owner’s dilemma.
bankruptcy.
negative financing.
poor management.
12
Underwriters Labs, Inc., that concerns itself with fire and electrical safety, is an example of
a broadcast organization.
a print publisher.
a product-testing organization.
a not-for-profit organization
13
A business that has been in operation for less than three years, & has a owner/manager, is a
venture business.
service business.
risky business.
funded business.
14
Which of the following is NOT true about small-business owners?
They have good health.
They like to take charge of things.
They can get others to do things.
They have short work weeks.
15
Which of the following are the three basic types of consumer information organizations?
product-testing, print publishers, & not-for-profit
print publishers, broadcast organizations, & not-for-profit
product-testing, print publishers, & broadcast
product-testing, broadcast, & not-for-profit
16
Which of the following is NOT true?
Businesses do not have to be responsive to consumers’ needs.
A consumer buys and uses goods or services.
Consumer behavior reflects and determines one’s lifestyle.
A wise consumer is an informed consumer.
17
Which of the following is NOT true about a small business?
It employs fewer than 500 people.
It is local and serves a nearby community.
The owner usually is the manager.
It is dominant in its field of operation.
18
Better Business Bureaus are supported by federal government & dues paid by member consumers.
True
False
19
Without satisfied consumers, businesses would not
be able to keep their costs to a minimum.
make sales, earn profits, or remain in business.
fail.
be allowed to become incorporated.
20
Of natural resources, such as petroleum, metals, clean air, and clean water, our world has
an unlimited supply.
the ability to produce all we want.
only a limited supply.
the ability to buy all we want.
21
Useful advertisements often tell you what the product is, how it is made, and
what it will do.
what the product defects are.
how much it cost to make.
why its competitor product is worse.
22
Examples of products that consumers buy does not include
clothing.
appliances.
food.
hair cuts.
23
Successful small-business owners like to plan and organize.
True
False
24
A venture business is one that begins without a marketing plan.
False
True
