Entrepreneurship Development mcq part 2

Entrepreneurship Development 

mcq notes part 2

1. What is the primary opportunity that exists for startups in emerging industries?

Capturing a first-mover advantage.

2. Which of the following are the main components of an industry/target market feasibility analysis?

Industry sufficiency and target market demand.

3. The majority of Americans work for

small businesses

4. What are the two types of disruptive business models?

New-market and low-end.

5. Primaryresearch consists of data that has been collected by the person completing the analysis.

Secondaryresearch uses data that has been collected previously.

6. The most essential role of the executive summary in the business plan is to

attract investors.

7.          Fixed costs remain the same despite the volume of goods or services produced.

8. Variable costs vary proportionally with the volume of goods or services provided.

9. A limitedpartnership is a modified form of a general partnership.

10. Which section of the business plan focuses on the specific segment or target market of an industry to which the firm will try to appeal?

Market analysis.

11. A(n) outsidedirector on a board of directors is NOT employed by the firm.

12. What are the primary financial objectives of any firm?

Liquidity, profitability, efficiency, and stability.

13. The statement of cash flows is divided into ____________activities.

operating, investing, and financing.

14. The difference between sales revenue and cost of goods sold is known as the

gross profit or gross margin.

15. An entrepreneur who starts a business without external funding is utilizing a technique referred to as

Bootstrapping.

16. The 4 P's of a firm's marketing mix consists of

product, price, promotion, and place.

17. Value-based pricing takes a customer

oriented approach.

18. What are the three types of patents?

Utility; design; plant.

19. A product and trademark franchise is an arrangement in which the franchise or grants to the franchisee the right to buy its products and use its trade name.