Question

(20 points)

1) which of the following could be a marketing advantage for a product that was not necessarily new or unique
A. The product would have no marketing advantage
B. it has a change in production, such as being eco- friendly.
C. it stays in the same price range as the competition.
D.it follows a competitor's business model closely.

2) what does it mean to start a business out of necessity?
A. someone is otherwise unemployed.
B. someone recognizes an unfulfilled need.
C. someone finds a way to improve an existing business.
D. someone needs to find a business to invest in.

3) True or false? it is often easier for a brand-new business to get a loan than an existing business.

4. Why is price not always the most important consideration when selecting a supplier?
A.if a business cannot return unused goods, the supplier may end up costing the company more.
B. the quality and brands of the products a supplier carries are also important considerations
C. For some businesses, the ability to change orders easily to accommodate market demands may be more important than price
D. All the above

5. True or false? Almost half the private-sector jobs in this country come from small businesses.


6. True or false?A small business can thrive, even in a bad economy.

7. True or false?the stock market represents small businesses.

Answer 1

1) C

2) D

3) False

4) D

5) True

6) True

7) True

Step-by-step explanation:

1) The product stays in the same price range as the competition if it is not necessarily new or unique.

So, option C. is correct.

2) Option d. is correct i.e., someone needs to find a business to invest in.

3) False, it is not easier for a brand-new business to get a loan than an existing business as a brand-new business may shut down at any time.

4) Option D.is correct as besides price, factors A, B, C are also important.

5) True, almost half the private-sector jobs in this country come from small businesses.

6) True, a small business can thrive, even in a bad economy as it does not need much investment.

7) True, the stock market represents small businesses.