4 Unit Entrepreneurship MC

Question 1

Promotion where a organization reports on what you've done & doesn’t cost your company anything

Accepted Answer

Publicity

Question 2

Which level of government makes the regulations regarding minimum wages?

Accepted Answer

Provincial

Question 3

The four P’s of the marketing mix are

Accepted Answer

Price, place, product, promotion

Question 4

Which of the following can have an effect on the method of distribution a company uses?

Accepted Answer

All of the others

Question 5

When the price of a product is priced significantly less than the competitor’s price

Accepted Answer

Penetration pricing

Question 6

Electronic form of inventory control provides employee security by inserting it below the skin

Accepted Answer

RFID Tag

Question 7

Which of the following resources is not a typical resource most “retail companies” would need?

Accepted Answer

Car

Question 8

Having to pay royalty fees on all sales is a disadvantage of a

Accepted Answer

Franchise

Question 9

Which level? Public holidays when you have to close your business & still pay your employees

Accepted Answer

Provincial

Question 10

A financial form which states the amount of profit or loss you have is a

Accepted Answer

Income statement

Question 11

Distribution form that will add the most to the price of a product before it gets to customer

Accepted Answer

Producer – Wholesaler – Retailer – Consumer

Question 12

If you didn’t have enough inventory on hand to meet your needs then

Accepted Answer

all of the others

Question 13

Entering the market with a high price for your product is called

Accepted Answer

Price Skimming

Question 14

ROI means

Accepted Answer

Return on investment

Question 15

The form of company that sells shares to raise money to start the company is a

Accepted Answer

Corporation

Question 16

Unlimited liability means the owner of a business

Accepted Answer

is personally responsible for all business debts

Question 17

Which of the following is not a typical source of equity financing?

Accepted Answer

Banks

Question 18

The formula that measures the amount of money you have made in a percentage format is

Accepted Answer

Profit margin

Question 19

Protect a symbol you created to represent company against anyone else from using it illegally

Accepted Answer

Trademark

Question 20

Assets, liabilities and equity for a business are found on the

Accepted Answer

Balance sheet

Questions 20