1. When starting a new business, it is important to define your niche market where you initially focus on a very specific demographic and psychographic to keep your marketing and promotion costs low and new sales high.

True

False

1. When referring to generations in the workforce, "millenials" refers to:

		Baby boomers
		Generation X
		Generation Y
		Generation Z

When referring to barriers to effective communications, the category that includes misunderstanding words, idioms, euphemisms, and slang would be:

		Cultural
		Emotional
		Interpersonal
		Language

When referring to barriers to effective communications, the category that includes different life experiences, ethics, norms, preferences, and values would be:

		Cultural
		Emotional
		Interpersonal
		Perceptual

1. What is NOT one of the basic economic systems of the world?

		Capitalism
		Communism
		Utilitarianism
		Socialism

1. The purest form of a free-market system provides unrestricted competition between private businesses where markets are based upon supply and demand with little or no government control.

true

False