Short DECA Entrepreneurship Quiz

A primary advantage for marketers who use direct mail to promote products is that

• most marketers find that it is more effective than micro-marketing methods.

• it is usually less expensive than personal selling methods.

• it is more effective in creating brand awareness than television advertising.

• marketers can deliver their messages to a broad audience.

When a business has been running successfully for several years, what would be a probable next financial step?

• Acquiring startup funds

• Deciding on financial goals

• Determining product prices

• Purchasing a second location

Which of the following decreases as production increases in a business that has economies of scale:

• Income taxes

• Pay rates

• Net profits

• Fixed costs

When employees are exposed to a variety of different ideas and perspectives, they are more likely to come up with their own new ideas and strategies. In other words, knowledge and learning lead to

• leadership

• innovation

• complacency

• curiosity

Which of the following statements regarding corporate governance is true:

• The focus of corporate governance is social rather than financial.

• The principles of corporate governance often conflict with sustainability.

• Small businesses do not need formal corporate governance.

• Corporate governance keeps any one person from having too much control.

Which of the following is a product consideration when selecting distribution channel members:

• Perishability

• Promotion

• Intensity

• Segmentation

Which of the following is considered an external control mechanism impacting how a company functions:

• Industry standards

• Payroll reviewed by leaders

• Usernames and passwords

• Segregation of duties

Which of the following is an internal factor that impacts corporate governance structures:

Which of the following is a benefit of debt financing when starting a business:

• You don't have to pay back the money if the business fails.

• You have control over how the money is spent.

• You have help from knowledgeable, experienced investors.

• You don't need to pay interest on the money.

Businesses evaluate their relationships with banks to make sure the bank

• likes the business.

• understands the business.

• operates worldwide.

• will lower their interest rates.