Business Models

A business model is:

• Something that walks down the runway.

• A business that allows someone to sell its goods and services.

• The way in which a business will run its operations.

• Products that are bought from overseas.

An advantage of choosing to run as an online business is...

• Customers could potentially get scammed.

• Lower expenses than a bricks and mortar business.

• Customers can see the product before they purchase it.

• Is expensive to setup.

Something that should be considered before deciding on a business model is...

• What is the main goal of the business.

• Which government is in power at the time.

• Who is the target market.

• Exchange rate.

Which of the following is a disadvantage of choosing to run a franchise?

• Can be expensive to run, due to franchise and advertising fees.

• Is 3 times more successful on average than a normal business.

• Bank sees a franchise as less risky.

The 4 types of online business models are?

• Merchant, Brokerage, import/export, freemium.

• advertising-based, brokerage, bricks & mortar and social enterprise.

• freemium, brokerage, bricks & mortar and social enterprise.

• advertising-based, freemium, brokerage, merchant

Which of the following are reasons import/export businesses are thriving in recent years. (Choose multiple)

• Reduced trade barriers.

• COVID-19

• Tighter government restrictions.

• Improved technology.

Bricks & Mortar businesses typically are broken down into which of the following?

• retail, wholesale and manufacturing

• retail, wholesale and marketing.

• retail, wholesale and magnificent.

• retail, wholesale and magic.

An advantage of bricks & mortar is?

• customers are able to view the product prior to purchasing.

• cheaper than online.

• easy to compete with online prices.