Business and Entrepreneurship Review

Which is NOT one of the 4P’s of the marketing mix?

• Price

• Product

• People

• Place

What are the different forms of business?

• Sole Proprietorship, Partnership, Corporation

• Entrepreneur and Small Business owner

• Limited Liability and Corporation

__________ refers to a person who owns the business and is personally responsible its debts.

• Partnership

• Corporation

• Sole Proprietorship

Which is NOT an advantage of a partnership?

• Easy to establish

• Do not have to pay income tax

• Double Taxation

What is a monopoly?

• A business market where the seller faces no competition.

• A board game in which you cannot pass go or collect $200.00.

• A business that only has one other competitor.

• A business that has many competitors.

Which of these are needs?

• Video game and water

• Shelter and food

• A big hotel and gourmet meal

• Water and iPhone X

What happens to demand if supply increases up?

• Decreases

• Increases

• Stays the same

What is it called when a company strategically puts one of their products in a movie or TV Show?

• Marketing Mix

• Form Utility

• Unit Pricing

• Product Placement

A ________ is a symbol or other design adopted by an organization to identify its   products.

• Slogan

• Product

• Logo

• Picture

To draw attention to a product or service in order to promote sales is called:

• Slogan

• Logo

• Advertising

• Marketing