
PBAM Unit 3 Review
Authored by Mandi Schreiner
Business
9th - 12th Grade
Used 1+ times

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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A majority of small businesses are involved in which industry?
Construction
Transportation
Services
Wholesaling
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As a new small business owner, one of the BEST governmental agencies you could contact for information and guidance would be the ________.
Internal Revenue Service
Securities and Exchange Commission
Small Business Administration
Treasury Department
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would be considered a small business?
A local dress shop with three employees
A plant with 15 employees that is part of a global enterprise
A local general store that is not part of a chain and employs 550 people
A neighborhood grocery that is part of a national chain
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of seeking business opportunities, typically under conditions of risk, is referred to as _______.
divestiture
corporate governance
venture speculation
entrepreneurship
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
IWeather is a new popular App that provides forecasts, snow alerts, and radar with unique features. IWeather is an example of a form of competitive advantage that a company achieves by being the first to enter a specific market or industry, which is known as a(n) _______ advantage.
pacesetter
fast follower
innovator
first-mover
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under McDonald's franchise agreement, the _______ grants the right to conduct business using the McDonald's business model; the _______ owns and operates the local business.
franchiser; franchisee
grantee; grantor
licensee; licensor
franchisee; franchiser
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
MyPillow's patented interlocking fill adjusts to your individual sleep needs regardless of sleeping position. Although pillows and other bedroom accessories represent an established market, entrepreneurs such as the founder of MyPillow can gain a competitive advantage if they can exploit a _________.
franchise agreement
Niche market
business plan
venture capitalist
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