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- 1. Multiple ChoiceWhich of the following is an advantage of starting your own business?As long as you make a business plan, you will know what obstacles to expectYou have control over where and when you workDuring the startup phase, you do not have to think about fundingYou are in charge of the decision making so there is little to no risk
- 2. Multiple ChoiceWhat does a SWOT analysis evaluate?Symptoms, Weaknesses, Opportunities, ThreatsStrengths, Weaknesses, Opposition, ThreatsStrengths, Weaknesses, Opportunities, ThreatsStrengths, Weaknesses, Opportunities, Targets
- 3. Multiple ChoiceWhat could you do to try to improve your net profit?Increase pricesIncrease number of items soldDecrease fixed expensesAll of the above
- 4. Multiple ChoiceSelect the following that is not considered a skillPeople skillsDetermination SkillsCommunication SkillsBusiness skills
- 5. Multiple ChoiceSelect the following that is not considered a skillPeople skillsDetermination SkillsCommunication SkillsBusiness skills
- 6. Multiple ChoiceWhich of the following are assets?TimeMoneyA carAll of the Above
- 7. Multiple ChoiceWhich of these is NOT part of a consumer profile?DemographicsPsychographicsBuying PatternsPolygraphics
- 8. Multiple ChoiceWhich of the following is a fixed expense for Maria's sandwich food truck?
Salaries for employees
Truck Insurance
Advertising
All of the aboveSalaries for employeesTruck InsuranceAdvertisingAll of the above - 9. Multiple ChoiceThe amount of money that an entrepreneur earns when total costs are subtracted from total sales is called ______________.
profit
salary
contribution margin
overheadProfitSalaryContribution marginOverhead - 10. Multiple ChoiceWhat is the definition of an entrepreneur?An entrepreneur is someone who manages a businessAn entrepreneur is someone who owns a business and makes profit from that businessAn entrepreneur is someone who creates a business and potentially makes money and runs the businessNone of these
- 11. Multiple ChoiceWhy is it important to use the information gathered from your market research on your target market segment to build your marketing plan?Marketing strategies should be designed to appeal to these potential customersIt's less costly if you use research to build marketing strategiesMagazines and TV stations will ask to see research before you can buy advertisementsNone of the above-market research is not important
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