Business Fundamentals Quiz

What does a business model primarily describe?

• Marketing strategies

• How a business creates, delivers, and captures value

• Employee roles

• Legal requirements

Which of the following is NOT a key component of a business model?

• Value proposition

• Employee satisfaction

• Revenue streams

• Cost structure

What is a value proposition?

• The price of a product

• The unique value offered to customers

• A list of competitors

• The marketing plan

Which of these is an example of a revenue stream?

• Sales of products

• Employee salaries

• Office rent

• Marketing expenses

What does the term "target market" refer to?

• All potential customers

• The specific group of customers a business aims to serve

• Competitors in the industry

• Suppliers of the business

Which type of business model involves charging customers a recurring fee for access to a service?

• Freemium

• Subscription

• Transactional

• Affiliate

What is a common characteristic of a B2B (Business to Business) model?

• Targeting individual consumers

• Providing services to other businesses

• Selling through retail stores

• Relying solely on online sales

Which component of a business model outlines the costs associated with operating the business?

• Revenue streams

• Key resources

• Cost structure

• Customer relationships

What does "key partnerships" refer to in a business model?

• Employees of the business

• Collaborations with other organizations

• Customers who are loyal

• Direct competitors

Which of the following best describes a franchise model?

• A single owner running a business

• A business that sells products through multiple outlets

• A model where one business licenses another to operate using its brand

• A non-profit organization