Mid-term quiz

All of the following is considered micro-environment for businesses except:

• competitors

• suppliers

• society

• creditors

A government that is run by few powerful elite is known as:

• Oligarchy

• Democracy

• Republic

• Monarchy

blocking certain goods due to poor quality by government is known as:

• Tariffs

• Quotas

• Standards

• Subsidies

What protects the intellectual property created by artists?

• trademarks

• geographical indications

• patents

• registered designs

• copyright

How long do patents usually last for?

• 10 years

• 40 years

• 20 years

• 60 years

Imagine a footballer sets up his own company to sell his own range of clothes. What type of intellectual property can he use to show that the clothes are made by his company?

• copyright

• geographical indications

• trademarks

• patents

• registered designs

If a company develops a new technology that improves its main product, what type of intellectual property can they use to stop others from copying their invention?

• copyright

• geographical indications

• patents

• registered designs

• trademarks

A__________ provides for the greatest degree of continuity:

• general partnership.

• joint venture.

• corporation

• sole proprietorship.

Which of the following is probably THE MOST important reason for incorporating?

• limited liability of shareholders

• more money for investment

• increased flexibility

• shared management

Sales tactic that lures customers in with specific claims about the quality or low prices on items that turn out to be unavailable in order to upsell them on a similar, pricier item.

(a)