Question

Thomas has started a new business venture for which he has been using highly economical resources, such as the market research data available in public libraries, low-interest funds borrowed from national banks, and equipments hired on lease. This technique used by Thomas to overcome resource constraints in his start-up firm is best known as _____. Multiple Choice

collective bargaining

bootstrapping

caveat emptor

moonlighting

Answer 1

bootstrapping

Step-by-step explanation:

Based on the information provided within the question it can be said that the technique that Thomas has used in order to overcome these obstacles is known as bootstrapping. This term refers to starting a business from the ground up with very little resources, mainly a few personal savings and luck. This technique focuses on overcoming obstacles through perseverance and dedication, such as Thomas has done in this scenario.