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As a limited partner in a construction business, Ricardo a. has input only on major company decisions b. only risks his initial investment c. contributes only his time and not his money d. cannot lose his investment in the partnership e. does not receive any portion of the profits QUESTION 21 Alex purchases ownership stakes in Goldman Sachs. These stakes are referred to as a. corporate certificates b. stock c. ownership documents d. articles of ownership e. incorporation QUESTION 22 Buyers that prrchase dresses in Vietnam or shoes in Italy and have them shipped back to the United S a. exporting b. expelling c. dumping d. importing e. shipping All of the following are ways to collect useful marketing research information except a. conducting telephone polls b. impulsively stopping persons on the street to inquire about their buying habits csendingquestionnairesbymail d. conducting personal interviews e.buying from commercial or governmental data sources QUESTION 24 A market is a group of individuals and/or organizations that have needs for products in a given category and have the ability, willingness, and to purchase such products. a. authority b. utility c. credit. d. desire e. money QUESTION 25 A it a partnership formed to achieve a specific goal or to operate for a specific period of time. a. licensing company b. strategic alliance c joint venture d. countertrade agreement e. trading company Click Save and submitto save and mbmit. chick Sinte All Anwers to save all anmwers. According to economists, natural resources, labor, capital, and entrepreneurship are called a. competitive resources b. factors of production C factory resources d. factors of manufacturing e. free resources" QUESTION 27 According to cconomists, inflation is a. eliminated by the government b. unavoidable, and therefore something beyond the control of govemnent cageneraldecreaseinthelevelofprices di a general rise in the level of prices e. a general problem for countries with command economies QUESTION 28 A system where the basic economic questions are determined, at least to some degree, through centralized government planning is referred to as a econom: a. commaly b. cotsmunal c. capitalistic d. controlled e. laisscz-faire By selling inflatable holiday decorations from November through December, Lowe's is providing. utility: a. form b. place C possession d. marketing e. time QUESTION 30 Who typically manages a small business? a. Professional managers b. Friends c. The founders/owners d. Relatives e. A board of directors QUESTION 31 An economity system that gives decision-making power about what to produce and what to buy to individuals and businesses, and in which the market determines homuch is soldand at what prices, is best called a economy. a. monetary b. market c.planned d. command e.product Selling and shipping raw materials or products to other nations is called a. deficit trading b. exporting c. importing d. tariffing e. alien trading QUESTION 33 What is the primary reason for small business failures? a. Poor management b. Hiring too many employees c. Expanding too slowly d. Lack of entrepreneurial spirit e. Too many loans QUESTION 34 All of the fotlowing are disadvantages of corporations except a. perpetual life b. heavy government regulation c. lack of secrecy d. double taxation e. expensive formation A carefully constructed guide for the person starting a business is a(n) a. business budget b. articles of business C. marketing plan d. business plan e. organizational plan QUESTION 36 A contract between a business and a state recognizing the business as an artificial person is known as the a. articles of partnership b. stock certificate c. proxy d. articles of incorporation e. S corporation QUESTION 37 How long istithe legal life of a corporation? a. One decade b. 50 years C. Forever, unless stipulated otherwise in the charter d. It depends on the state of incorporation e. 17 years, which is renewable All of the following are advantages that small businesses have except a. personal relationships with their customers. b. greater potential for making a profit. c. the ability to adapt to change. d. simplified record keeping. e. independence. QUESTION 39 An unfavorable trade balance is called a(n) a. currency devaluation b. trade deficit c. balance of trade d. balance of payments e. import balance QUESTION 40 The forces t that make up the external marketing environment of a firm a. can be controlled to the firm's advantage b. are generally beyond the firm's control C. result from the operations of the firm d. include price, promotion, distribution, and product e. have little effect on internal operations In the 1920 s, businesses began to shift to a sales orientation, which was characterized by all of the following except a2 taking orders and delivering goods b. increasing advertising cusingoccasionalhigh-pressuresellingtochniques d. enlarging the sales force e. determining what goods consumers wanted QUESTION 42 China is selling face masks in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for America manufacturers to compete. This is an example of a. dropping b. expotting c. dumping d. importing e. an embargo QUESTION 43 A small retail store calls its customers when it receives merchandise that they may be interested in, affords individual service to each customer, provides contaet information for complaints and comments, and has a 100 percent satisfaction guarantee. Which objective is this businest working hard to accomplish? a. Achieving low employee turnaver b. Satisfying the necds of its customers c. Making a profit d. Keeping up with the current technology e. Increasing the owner's wealth Business-to-business murkets include all of the following except markets. a. government b. institutional c. producer dreseller e. consumet QUESTION 45 Fluctuations in a nation's economy are referred to as its a. business cycle b. depression cycle c inflation problem d. cconomic upheaval e. recessioa period QUESTION 46 Actor Ashtor Kutcher tegularly invests in promining startups and has a track record of investing in companies that will become suceessful such as Uber and Airbab. How woald you classify his role in financing amall businesses? a. Angel illector b. Small business debs financiet cSmallibusinessInvestmentCenter d. Pensonal bunker e. Kickstartet Which of the following is a form of debt fintancing? a. Bank Ioan b. Vcnizire capital C SBLC funds d. Owper's personal savings e. Angel imvestor QUESTION 48 At Tesh, Elon Musk is chief executive officer (CEO). To whom does be report? A The boand of directots b. Teala's managers C. No one: the CEO is above everyone d. The stockholders e. The stockholder that owns the enost shares QUESTION 49 a unit bmmatket Csource d. deenand a segment For the U.S. government to provide the services expected by its citizens, it collects revenue a. solely from individuals in the form of taxes b. solely flym corporations in the form of taxes C. by selling manufactured goods overseas d. by selling bonds to foreign governments e. from both households and businesses in various forms of taxes