QUESTION 26

1. Embracing _____ and _____ are essential to creating opportunity and to launching a new business.

   	a.	networking; research
   	b.	research; uncertainty
   	c.	uncertainty; ambiguity
   	d.	decision making; micromanaging
   	e.	strategic alliances; networking

QUESTION 27

1. The North American Industry Classification System (NAICS) code consists of _____ digits where the first two digits designate _____.

   	a.	five; an economic subsector
   	b.	four; an industry group
   	c.	six; a major economic sector
   	d.	six; the NAICS industry
   	e.	four; the NAICS industry

QUESTION 28

1. Emerging, growth, differentiation, shakeout, maturity, and decline are all stages of the _____ life cycle.

   	a.	employee
   	b.	profit/loss
   	c.	job
   	d.	industry
   	e.	customer

QUESTION 29

1. Which of the following is NOT one of the key questions to be asked to discover your first customer?

   	a.	What are the potential markets for the product or service?
   	b.	What is the customer's buying pattern throughout the year?
   	c.	How much is the customer willing to pay?
   	d.	How do customers hear about the product or service?
   	e.	How often do the customers buy?

QUESTION 30

1. Which of the following is a goal of market research for a new company?

   	a.	Identify and profile the first customer.
   	b.	Estimate potential demand from the first customer.
   	c.	Identify subsequent customer segments that can be tapped later on to grow the company.
   	d.	None of these are correct.
   	e.	All of these are correct.