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Bus 100 Bus/100 Bus100 Midterm part 1

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Bus 100 Bus/100 Bus100 Midterm part 1 Question 1 4 out of 4 points The _____ is the business entity in a franchise relationship that allows others to operate a business using resources it supplies in exchange for money and other considerations • Question 2 4 out of 4 points _____ is the contractual relationship in which an established firm supplies another business with unique resources in exchange for payment and other considerations. • Question 3 4 out of 4 points The party in a franchise relationship that pays for the right to use resources supplied by another business entity is known as the • Question 4 4 out of 4 points A nonprofit corporation enjoys the benefit of r • Question 5 4 out of 4 points From the standpoint of an owner, a major advantage of the sole proprietorship is the: • Question 6 4 out of 4 points A company must register as a foreign corporation if they • Question 7 4 out of 4 points Not all corporations are large. In recent years, about 24 percent of corporations have reported less than _____ in total sales revenue. • Question 8 4 out of 4 points The federal government runs a budget deficit when its • Question 9 4 out of 4 points Changes in the PPI can predict changes in the Consumer Price Index (CPI) because • Question 10 4 out of 4 points An economic system is a structure for • Question 11 4 out of 4 points In _____, many firms compete by selling differentiated products. • Question 12 4 out of 4 points In the broadest sense, economics studies the choices that • Question 13 4 out of 4 points The amount of goods and services produced by an economy divided by the amount of resources used to make those goods and services, measures economic • Question 14 4 out of 4 points _____ are people willing to take the risk of starting, owning, and operating a business. • Question 15 4 out of 4 points The majority of new small business owners rely heavily on _____ to finance their start-ups. • Question 16 4 out of 4 points For research purposes, the Small Business Administration (SBA) defines small business as companies with up to _____ employees. • Question 17 4 out of 4 points _____are small segments within a market that can offer profit potential to entrepreneurs who know how to serve them. • Question 18 4 out of 4 points _____ provide funds to small businesses with high growth potential in exchange for a share of ownership in the company. • Question 19 4 out of 4 points A(n) _____ is a formal document that describes a business concept and outlines the core business objectives while detailing the strategies and timelines for achieving those objectives. • Question 20 4 out of 4 points Nonprofit organizations are not in the business of • Question 21 4 out of 4 points _____ refers to the quality and quantity of products and goods available to a population at a given time. • Question 22 4 out of 4 points The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the • Question 23 4 out of 4 points The four major categories of factors of production are • Question 24 4 out of 4 points In 1995, a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a • Question 25 4 out of 4 points Natural resources include Set 2 • Question 1 4 out of 4 points According to the textbook, using scanner data from retail sales is an example of • Question 2 4 out of 4 points _____ is the process of continually collecting information from the external marketing environment. • Question 3 4 out of 4 points _____ refers specifically to how people act when buyi

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