Short DECA Entrepreneurship Flashcard

Front

A primary advantage for marketers who use direct mail to promote products is that marketers can deliver their messages to a broad audience.

Back

marketers can deliver their messages to a broad audience.

Front

When a business has been running successfully for several years, what would be a probable next financial step? Options: Acquiring startup funds, Deciding on financial goals, Determining product prices, Purchasing a second location

Back

Purchasing a second location

Front

Which of the following decreases as production increases in a business that has economies of scale: Income taxes, Pay rates, Net profits, Fixed costs

Back

Fixed costs

Front

When employees are exposed to a variety of different ideas and perspectives, they are more likely to come up with their own new ideas and strategies. In other words, knowledge and learning lead to

Back

innovation

Front

Which of the following statements regarding corporate governance is true:
The focus of corporate governance is social rather than financial.
The principles of corporate governance often conflict with sustainability.
Small businesses do not need formal corporate governance.
Corporate governance keeps any one person from having too much control.

Back

Corporate governance keeps any one person from having too much control.

Front

Which of the following is a product consideration when selecting distribution channel members: Perishability, Promotion, Intensity, Segmentation?

Back

Intensity

Front

Which of the following is considered an external control mechanism impacting how a company functions: Industry standards, Payroll reviewed by leaders, Usernames and passwords, Segregation of duties?

Back

Industry standards

Front

Which of the following is a benefit of debt financing when starting a business: You don't have to pay back the money if the business fails. You have control over how the money is spent. You have help from knowledgeable, experienced investors. You don't need to pay interest on the money.

Back

You don't have to pay back the money if the business fails.

Front

Businesses evaluate their relationships with banks to make sure the bank

Back

understands the business.

Front

This is an example of a(n) _________ risk that many entrepreneurs face when starting a business.

Back

financial