QUESTION 1 When setting prices for goods and services, the only consideration is what prices will be acceptable to the consumer. True False QUESTION 2 5 points Saved List 3 sources of financing your business (and dont suggest getting a loan from a bank is not probable) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Paragraph Arial 10pt :- ev A Ix H ABC Q 6 = = x2 X2 >IT E 19 x # B Ex: | {i} ? Ra Ky + 3 sources of financing would consist of: 1. Personal Investment: This is money you invest in the company. 2. Love money: Money gives to you by your parents that you have to pay back 3. Bank loans: This is a fixed amount of money that a bank gives you. The catch to this is that it must be repaid over time with interest. 1 63 WORDS POWERED BY TINY QUESTION 3 1 poi Which of the following sources of financing is used most frequently by entrepreneurs? O Trade Credit Commercial Credit Cards Leasing Personal Savings QUESTION 4 1 pol "continuity" in an entrepreneurship business is: O the ability to ensure operations and core business functions are not impacted by a disaster maintaining consistent business practises a current buzz word for dealing with change and ensuring the survival of your business O making sure an unplanned accident does not take the business offline QUESTION 5 With keystone pricing the calculation is based on a generally accepted industry standard. O True O False QUESTION 6 For most businesses, a marketing strategy focused on traditional marketing is preferred to that which is focused on content marketing. O True O False QUESTION 7 To run a business you need to be A leader rather than a manager A manager with a passion A proven leader with a broader view of the market and possibilities O A hard worker with an idea and some financing QUESTION 8 Which of the following is not an advantage to buying a franchise? A proven system Reduced risk Loss of independence Purchasing power QUESTION 9 1 poir Which of the following should be the most important factor in your location decision? O the needs of your target market your lifestyle your space/physical requirements your product or service QUESTION 10 1 poir One of the advantages of buying a new business is that the equipment needed for production is already available, and its limitations and capabilities are known in advance. O True False QUESTION 11 1 Companies today are expected to go beyond just being "ethical" in their dealings with customers, employees, and other stakeholders. True False QUESTION 12 1 Profit-based pricing involves setting a price that corresponds with generally accepted industry standards. O True O False 1 poin QUESTION 13 When Lays introduces their STAX brand of potato chips, they entered the market with a 69 cent price point and then later increased their price to over a dollar. This type of pricing strategy is called: Penetration pricing Limit Pricing O price skimming limit pricing QUESTION 14 1 poin Under which business form, does the owner have complete control over the conduct and management of the business? Limited Partnership General Partnership Corporation Sole Proprietor QUESTION 15 1 poin Fashion products usually have extremely long life cycles. True False QUESTION 16 1 poin Which of the following describes a venture capitalist? an investor who is willing to risk his/her own money an investor who uses the money of others usually for an equity share in the business financial institutions such as a credit union an angel investor