Entrepreneurship and Small Business Test Questions #5

Which of the following is an example of Primary Data?

• A list of your business competitors compiled by the Chamber of Commerce

• Information collected from a poll of your company Facebook followers

• An series of Industry reports

• The United States Census

Prices that targeting customers looking to save as much money as possible

• Premium Pricing

• Bundle Pricing

• Economy Pricing

• Market Penetration

Pair several products together and selling them for less money than each would be individually

• Premium Pricing

• Bundle Pricing

• Economy Pricing

• Market Penetration

Setting prices low until after a reliable customer base is established, then raising prices

• Premium Pricing

• Bundle Pricing

• Economy Pricing

• Market Penetration

Setting high prices when a product is introduced and then gradually lowering the price

• Price Skimming

• Market Penetration

• Economy Pricing

• Bundle Pricing

High quality products marketed to high-income individuals

• Economy Pricing

• Market Penetration

• Premium Pricing

• Bundle Pricing

You downloaded several of your favorite songs and used them in an ad to promote your product on social media sites. The ad was rejected because of the songs you chose. You are told that you violated Fair Use copyright.

Which one is not a factor used to evaluate Fair Use copyright? (three of them are factors!)

• Purpose on your use

• Obtained from a subscription website

• Effect of your use on the potential market of the work copied

• Amount of the work copied

Trademarks, Trade Secrets, Copyrights, and Patents:

Trade Secrets are confidential information which may be sold or licensed. 

• True

• False

Trademarks, Trade Secrets, Copyrights, and Patents:

A Copyright is used to protect a company logo.

• True

• False

Trademarks, Trade Secrets, Copyrights, and Patents:

A Trademark protects a brand name.

• True

• False