Semester Exam Review Flashcardizz

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What is market research?

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Market research is the process of gathering, analyzing, and interpreting information about a market, including information about the target audience, competitors, and the industry as a whole.

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What are assets?

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Assets are resources owned by an individual or business that have economic value. Examples include cash, property, and investments.

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What is a business plan?

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A business plan is a formal document that outlines the goals of a business, the strategy for achieving them, and the resources required.

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What is comprehensive car insurance?

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Comprehensive car insurance covers damage to a vehicle not involving a collision, such as theft, vandalism, or natural disasters.

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What is the role of trade associations in business?

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Trade associations provide resources, support, and networking opportunities for businesses within a specific industry.

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What does it mean to have control over your work schedule?

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Having control over your work schedule means you can decide when and where you work, allowing for flexibility and personal preference.

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What is primary research?

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Primary research involves collecting original data directly from sources, such as surveys, interviews, or observations.

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What is secondary research?

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Secondary research involves analyzing existing data that has already been collected by others, such as reports, studies, and articles.

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What is liability insurance?

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Liability insurance protects businesses and individuals from claims resulting from injuries and damage to other people or property.

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What is the importance of identifying research objectives?

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Identifying research objectives helps to focus the research process, ensuring that relevant questions are answered and valuable insights are gained.