Gmetrix Practice Exam 1 Review

What is Entrepreneurship?

• Marketing and selling products

• Setting up a business with the aim to make a profit

• Acquiring leadership and managerial skills

• Quickly advancing in positions within a corporation

Dunder Mifflin Paper Company is an example of what type of business?

• B2B

• B2C

• Direct to Consumer

• Retailer

True or False: All stakeholders own equity.

• True

• False

An example of __________ compensation is paying field laborers for the amount of fruit they pick.

• Salary

• Hourly

• Piece Work

• Commission

Which of the following is not a characteristic used to help identify a business opportunity?

• Price

• Quality

• Service

• Branding

A slide presentation for potential investors that summarizes the key parts of a business is called a...

• Lean Canvas

• Business Plan

• Pitch Deck

• Balance Sheet

Which license type says that only noncommercial uses of the work are permitted?

• CC

• SA

• NC

• BY

A marketing survey you post on Facebook would be categorized as what type of data?

• Primary Data

• Secondary Data

A business whose services are different from yours but satisfy the same need could be categorized as...

• Direct Competition

• Indirect Competition

• No Competition

Which Sales Channel has been opened to manufacturers because of digital tools?

• B2B

• Direct-to-Consumer

• Wholesale

• Distribution