October 23, 2025 Claire B 0 Comments

(TCO 3) A small business is defined as a company that _____. (Points : 5)

is newly launched and has fewer than 100 shareholders
is dominant in its field and employs fewer than 1,500 employees
has a revenue of less than $750,000
is independently owned and operated and not dominant in its field
is funded through personal lines of credit and has fewer than 1,000 employees

Question 2.2.(TCO 3) Which of the following is true regarding high-growth ventures? (Points : 5)

They are usually run by one individual rather than a team.
They refer to businesses such as a self-employed consultant, a corner florist, or a small e-commerce venture.
They are mostly family businesses.
They are built around the personal and financial needs of an individual.
They expand rapidly by obtaining a sizable supply of investment capital.

Question 3.3.(TCO 3) TechPoint, a technical writing and business documentation firm, finds it difficult to handle its training requirements. The company forms a one-year contract with Impact Inc., a language training firm, to conduct training and refresher courses for their employees. This is an example of _____. (Points : 5)

downsizing
outsourcing
vertical integration
market penetration
diversification

Question 4.4.(TCO 3) Charles is the purchase agent for a consulting firm. He places orders for office stationeries and consumables once in two weeks. The purchases are made in large quantities and are billed in the firm’s name. The items that Charles buys are examples of _____. (Points : 5)

specialty products
expense items
capital items
shopping products
convenience products

Question 5.5.(TCO 3) The introductory stage will be followed by a _____ stage for a successful product. (Points : 5)

maturity
research
saturation
growth
infiltration

Question 6.6.(TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____. (Points : 5)

social arbitrators
trend watchers
crowd pullers
social developers
social programmers

Question 7.7.(TCO 4) Consumer purchasing differs from organizational purchasing in that consumer purchasing _____. (Points : 5)

is influenced more by subconscious and emotional factors
follows a formal buying process
has greater complexity in product usage
involves closer relationships between buyers and sellers
has a greater emphasis on economic payback

Question 8.8.(TCO 4) _____ involves selling more of your existing products into the markets you already serve. (Points : 5)

Product development
Market development
Diversification
Market penetration
Benchmarking

Question 9.9.(TCO 4) Selling existing products to new markets is called _____. (Points : 5)

market development
product development
market segmentation
market penetration
vertical integration

Question 10.10.(TCO 4) Retailers differ from wholesalers in that retailers _____. (Points : 5)

sell products to small-business owners
sell products to wholesalers, government agencies, and educational institutions
primarily sell products to consumers for personal use
receive bulk shipments from producers
create possession utility

Question 11.11.(TCO 4) AMS Technologies, a computer hardware reseller, purchases computer components from leading manufacturers and builds fully operational personal computer systems customized for specific consumer requirements, such as nonlinear video editing capabilities. The firm sells its products to various companies and educational institutions. AMS Technologies belongs to which of the following class of intermediaries? (Points : 5)

Retail outlet
Drop shippers
Manufacturers’ representatives
System integrators
Specialty stores

Question 12.12.(TCO 4) _____ are full-service merchant wholesalers who set up displays in retail outlets, stock inventory, and perform other services, such as marking prices on merchandise. (Points : 5)

Rack jobbers
Agents
Brokers
System integrators
Value-added resellers

Question 13.13.(TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.(Points : 5)

Federal Communications Commission
Consumer Product Safety Commission
Federal Trade Commission
Federal Advertising Administration
Federal Regulatory Commission

Question 14.14.(TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites. (Points : 5)

attack ads
advocacy advertising
cooperative advertising
remarketing
search engine marketing

Question 15.15.(TCO 4) Advertising that seeks to create goodwill and to build a desired image for a company, rather than to promote specific products, is termed as _____.(Points : 5)

product advertising
institutional advertising
comparative advertising
bait and switch advertising
reminder advertising

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