Generally, entrepreneurs should avoid head-to-head price competition with other firms that can more easily achieve lower prices through ________. *

A) offering lower value products and services

B) a better designed Web site

C) geographic advantages

D) lower cost structures

What part of the marketing mix includes communicating information about products and is the most visible component of the marketing mix? *

A) Product

B) Promotion

C) Price

D) Place

E) Psychographics

Which of the following will force a sole proprietorship to be legally dissolved? *

A) Sales exceed $1 million.

B) The partners reorganize the firm's structure.

C) Earnings are less than $500,000.

D) The owner donates profits.

E) The owner dies.

Generally, an industry is more attractive when companies in the industry have ________ switching costs to go from one supplier to another. *

A) high

B) moderate

C) significant

D) low