QUESTION The strategy of attracting new customers by setting a low initial price for a product is called ______________ pricing. Fill in the blank(s) with correct word ANSWER penetration
Date: September 3rd, 2020
QUESTION What is your personal career vision? What will be an ideal response? ANSWER Student answers will vary, but show consideration for career goals. Look for answers to the two following questions: (1) What choices should I make? (2) How do I want to lead my career life?
Date: September 3rd, 2020
QUESTION What form of business is its own separate legal entity, distinct from its owners? a. sole proprietorship b. partnership c. limited partnership d. corporation ANSWER d
Date: September 3rd, 2020
QUESTION Carl’s Clunkers used to be the only used car dealership near campus until ReRevved Engines opened a few months ago. The competition between dealerships is a(n) ________. a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER c
Date: September 3rd, 2020
QUESTION A(n) ________ invests money in a partnership, but is liable only to the extent of his/her investment. a. agent b. general partner c. limited partner d. officer ANSWER c
Date: September 3rd, 2020
QUESTION American Business Machines is organized as a corporation. Its income will be taxed first at the corporate level and also on shareholder returns as dividends. This situation is known as ________. a. double taxation b. dual costs c. regulatory costs d. dual taxation ANSWER a
Date: September 3rd, 2020
QUESTION What term describes the level of competition in which only a few businesses make up an industry and have control over the price of their product? a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER c
Date: September 3rd, 2020
QUESTION Employees expect to receive certain things that do not create happiness, yet a company’s lack of these things would eventually create dissatisfaction. These rewards are called _______. a. self-actualizers b. task identities c. hygiene factors d. motivators ANSWER c
Date: September 3rd, 2020
QUESTION Choosing fiber paperboard instead of plastic for a supermarket product’s wrapping is an example of ____________________ packaging. Fill in the blank(s) with correct word ANSWER “green”
Date: September 3rd, 2020
QUESTION Which competitive strategy would NOT be used by a business in an oligopoly? a. lowering prices b. advertising to attract customers c. differentiating product d. preventing new entrants into the market ANSWER a
Date: September 3rd, 2020
