Barbara Will had a great recipe for sweet bell pepper sauce. Her friend Lynne Wilson convinced her that they should go into business together and sell the sauce. They now ship J.T.'s Red Sauce to stores in 35 states. Will and Wilson are examples of

Which of the following is not an example of an entrepreneur?

Team members who have the right set of skills needed to get the job done are demonstrating________________.

Jackson Hewitt Tax Service is an example of which type of business?

The plant where Goodyear tires are made is an example of which type of business?

According to the Small Business Administration;s Office of Advocacy, how many new businesses survive for at lest two years?

Which of the following is not an advantage of entrepreneurship?

Which step of the problem-solving process involves performing research and interviewing customers, suppliers, and employees?

An example of a non economic want is

Which of the following is not an example of service?

If a product has inelastic demand, a price increase will cause

What determines the type of economic system a country has?

Which of the following is not a role of entrepreneurs in the U.S. economy?

Another name for eonomic resources is

The four basic principles of the U.S. economic system are

Which of th following is not a function of business?

If you were going to start a small retail store selling gift items, which type of market structure would you most likely be entering?

The Ford Motor Company operates in which type of market structure?

A business plan is not intended for

Purposes of a business plan include which of the following?

A business plan is important for a new business for all of the following reasons except

The main body of a business plan includes which of the following elements?

Which of the following is not a true statement regarding risks?

The purpose of including supporting documents in a business plan is to

Writing a business plan

Which of the following organizations can provide assistance when writing your business plan?

Which of the following describes why you are asking for a loan and what you plan to do with the money?

Mistakes to avoid when preparing your business plan include all except

Which of the following is not a reason that entrepreneurs need to know who their customers are?

To identify your target market, you need to know

Data that helps you determine where your potential customers live and how far they will travel to do business with you are

Which of the following is not an example of primary research?

Sources o secondary data include all of the following except

Two disadvantages of collecting primary data re the costs and time involved.

It is difficult for small businesses to compete with large retailers because

Which of the following is not a step involved when preparing a competitive analysis?

Businesses do not need to identify their target market in order to succeed.

Which of the following is not a good way to get customer feedback?

Which of the following is a strategy for maintaining customer loyalty?

Longer uestionnaires are always better because you can collect more information.

To successfully use the marketing concept, a business must do which of the following?

A marketing strategy should be consistent with the business's

Opening two more restaurants in other locations around the city would be an example of a short-term goal for the owner of a new restaurant.

Which of the following would be a good addition to the product mix for a health clu?

The branding, packaging, and labeling of your product should accomplish all of the following except

Which of the following is not a pricing objective?to decrease expenses

A new cellular phone that lets you watch television, surf the Internet, send and receive e-mail, take pictures, and listen to music has just been released. There are people who want this deice so badly they are willing to pay any price for it. This telephone should be priced using

During late summer, Nordstrom's Department Store offers fall and winter clothes at a discounted price for a short period of time. After hat time, the price of this clothing goes up and is not reduced again until the end-of-season clearance. This is an example of

You own an office supply store. You purchase desk lamps at a wholesale cost of $14 each. You use a markup of 45 percent to determine the retail price. At the end of season, you offer a discount price using a markdown of 20 percent of the retail price. The discount price for desk lamps is

Which of the following pricing techniques is often used when introducing a new product into the market with the goal of developing a strong customer base while discouraging competition?