PBMF Chapter 6 Review

PBMF Chapter 6 Review

9th - 12th Grade

29 Qs

quiz-placeholder

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PBMF Chapter 6 Review

PBMF Chapter 6 Review

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Carly Patton

Used 90+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Short-term financing is obtained for a period of less than

2 years

1 year

3 months

6 months

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If you start a new business, you need information about:

customers

competitors

government regulations

all of these

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which element of a business plan discusses the entrepreneur's short- and long-term goals for the business?

customer analysis

financial plan

description of the competition

description of the business

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Location is important to small retail businesses because

customers generally do not want to travel long distances to find what they need.

many potential customers will stay away if the business isn't easy to find.

most retailers need good customer traffic to survive.

all of the above

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Small business owners

usually get direct information from their customers about what they like and dislike.

typically focus on products and services that meet the needs of a large group of customers.

rely heavily on consumer research to gather information.

have less frequent contact with their customers than large businesses.

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

According to the Small Business Administration, a small business is an independent business with fewer than ____ employees.

50

10

100

500

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Scrub-a-Dub laundry detergent has been on the market for years. The manufacturer of Scrub-a-Dub recently added a new ingredient to give the detergent extra cleaning power. This is an example of an

innovation

opportunity cost

improvement

invention

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