Business Financing and Marketing Concepts (part 3)

Sam is paying his employees for the first time, but he doesn't have his unique tax identifier as a business. Which of the following is the number he needs?

• EIT

• TIB

• EIN

• ENN

Identify the FOUR elements of the marketing mix (4 P's). (Choose 4)

• Place

• Price

• Partnering

• Product

• Promotion

A beverage chain provides a user experience every time a customer uses their loyalty card, reward points are accumulated, and redeemable at any of their locations, which then prompts discounts to be sent via text. This is a good example of which of the following?

• Brand building

• Crowdsourcing

• Sales pitching

• Omnichannel Marketing

Drew has an idea for a new company and needs money to start his business. Drew finds a friend willing to give him money in exchange for a portion of Drew's new company. What term describes the type of financing the investor is willing to give Drew?

• Small business loan

• Debt financing

• Venture capitalists

• Angel investor

Identify the business variable costs

• Materials

• Shipping and handling

• Commissions

• Loan payment

• Property Tax

Identify the business Fixed costs

• Materials

• Insurance Premiums

• Commissions

• Loan payment

• Property Tax

What are costs that fluctuate in proportion to the good or service that a business produces?

• Total costs

• Fixed costs

• Marginal costs

• Variable costs

Which term describes the loss of potential gain from alternatives when one alternative is chosen?

• Current liability

• Marginal cost

• Limited warranty

• Opportunity cost

Business owned by two or more persons with each owner personally liable for business debts and claims

• Nonprofit

• Sole proprietorship

• Corporation

• Partnership

Separate, legal entity owned by shareholders with unlimited life and authority to act and incur liability separately from its owners

• Nonprofit

• Sole proprietorship

• Corporation

• Partnership