Entrepreneurship 3 DECA

What type of law addresses issues that interfere with a firm's right to do business?

• Environmental

• Judiciary

• Criminal

• Tort

How can you attempt to cancel a contract without facing legal action?

• Breach the contract and refuse to pay the other party.

• Bring a lawsuit against the other party.

• Send a request to the other party asking for cancellation.

• Cancel the contract within a year of signing it.

Which of the following forms of business ownership must obtain a charter from the state(s) in which it operates:

• Corporation

• Partnership

• Sole proprietorship

• Consolidation

Which of the following is a personal factor that affects the choice of a form of business ownership:

• Market considerations

• Area of the country

• Business experience

• Economic conditions

Which of the following is a condition that must exist for channels to be effective:

• Channel members must have varying goals.

• They must be properly managed.

• They must have at least five members.

• Channel members must not share tasks.

Indirect channels of distribution are the only channels that involve

• industrial users.

• producers.

• intermediaries.

• ultimate consumers.

The Barker Company is determining which channel of distribution to use by considering the number of potential customers in various geographic regions. The company is focusing on

• employees' capabilities.

• product benefits.

• branding issues.

• market factors.

What is one of the reasons why a supervisor might prepare a formal business report?

• To compile sales expenses

• To analyze marketing trends

• To request pricing information

• To schedule training sessions

When a customer sees a news story on TV about a certain company or brand, it's an example of a(n)

• brand promise.

• advertisement.

• touchpoint.

• slogan.

One of the benefits of competition to consumers is that competition encourages

• businesses to limit their product lines.

• government to fix prices.

• businesses to develop new products.

• government to finance business activity.