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They are usually run by one individual rather than a team
$ 20.00
(TCO 3) A small business is defined as a company that _____. (Points : 5)
       is newly launched and has fewer than 100 shareholders
       is dominant in its field and employs fewer than 1,500 employees
       has a revenue of less than $750,000
       is independently owned and operated and not dominant in its field
       is funded through personal lines of credit and has fewer than 1,000 employees
Question 2.2. (TCO 3) Which of the following is true regarding high-growth ventures? (Points : 5)
       They are usually run by one individual rather than a team.
       They refer to businesses such as a self-employed consultant, a corner florist, or a small e-commerce venture.
       They are mostly family businesses.
       They are built around the personal and financial needs of an individual.
       They expand rapidly by obtaining a sizable supply of investment capital.
Question 3.3. (TCO 3) TechPoint, a technical writing and business documentation firm, finds it difficult to handle its training requirements. The company forms a one-year contract with Impact Inc., a language training firm, to conduct training and refresher courses for their employees. This is an example of _____. (Points : 5)
       vertical integration
       market penetration
Question 4.4. (TCO 3) Charles is the purchase agent for a consulting firm. He places orders for office stationeries and consumables once in two weeks. The purchases are made in large quantities and are billed in the firm's name. The items that Charles buys are examples of _____. (Points : 5)
       specialty products
       expense items
       capital items
       shopping products
       convenience products
Question 5.5. (TCO 3) The introductory stage will be followed by a _____ stage for a successful product. (Points : 5)
Question 6.6. (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____. (Points : 5)
       social arbitrators
       trend watchers
       crowd pullers
       social developers
       social programmers
Question 7.7. (TCO 4) Consumer purchasing differs from organizational purchasing in that consumer purchasing _____. (Points : 5)
       is influenced more by subconscious and emotional factors
       follows a formal buying process
       has greater complexity in product usage
       involves closer relationships between buyers and sellers
       has a greater emphasis on economic payback
Question 8.8. (TCO 4) _____ involves selling more of your existing products into the markets you already serve. (Points : 5)
       Product development
       Market development
       Market penetration
Question 9.9. (TCO 4) Selling existing products to new markets is called _____. (Points : 5)
       market development
       product development
       market segmentation
       market penetration
       vertical integration
Question 10.10. (TCO 4) Retailers differ from wholesalers in that retailers _____. (Points : 5)
       sell products to small-business owners
       sell products to wholesalers, government agencies, and educational institutions
       primarily sell products to consumers for personal use
       receive bulk shipments from producers
       create possession utility
Question 11.11. (TCO 4) AMS Technologies, a computer hardware reseller, purchases computer components from leading manufacturers and builds fully operational personal computer systems customized for specific consumer requirements, such as nonlinear video editing capabilities. The firm sells its products to various companies and educational institutions. AMS Technologies belongs to which of the following class of intermediaries? (Points : 5)
       Retail outlet
       Drop shippers
       Manufacturers' representatives
       System integrators
       Specialty stores
Question 12.12. (TCO 4) _____ are full-service merchant wholesalers who set up displays in retail outlets, stock inventory, and perform other services, such as marking prices on merchandise. (Points : 5)
       Rack jobbers
       System integrators
       Value-added resellers
Question 13.13. (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.(Points : 5)
       Federal Communications Commission
       Consumer Product Safety Commission
       Federal Trade Commission
       Federal Advertising Administration
       Federal Regulatory Commission
Question 14.14. (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites. (Points : 5)
       attack ads
       advocacy advertising
       cooperative advertising
       search engine marketing

Question 15.15. (TCO 4) Advertising that seeks to create goodwill and to build a desired image for a company, rather than to promote specific products, is termed as _____.(Points : 5)

       product advertising
       institutional advertising
       comparative advertising
       bait and switch advertising
       reminder advertising
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