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Busm32 Quiz2

Busm32 Quiz2

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Published by roncurtiss

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Published by: roncurtiss on Mar 27, 2009
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Quiz #2Business 32/CD 25 Hybrid CourseTim Weaver, Instructor
1. Search and capture of new ideas that lead to business opportunities is called opportunity recognition.True False
2. Hobbies cannot be turned into successful businesses.True False
3. A license is a legal agreement granting you rights to use a particular piece of intellectual property.True False
4. ______ refers to implementation of a creative idea or opportunity leading to profitable and effectiveoutcomes.A. InnovationB. Opportunity recognitionC. Entrepreneurial alertnessD. Technology transfer
5. Which of the following refers to searching and capturing new ideas that lead to business opportunities?A. InnovationB. Entrepreneurial alertnessC. Opportunity recognitionD. Technology transfer
6. One powerful but rarely used source of ideas isA. Family and friendsB. Work experiencesC. Existing customersD. Government agencies
7. ______ is a payment to a licensor based on the number or value of licensed items sold.A. Trademark B. PatentC. RoyaltyD. Copyright
8. Working at your business 35 hours a week or less is calledA. FranchisingB. Full-time self-employmentC. AggrandizingD. Part-time self-employment
9. ______ is/are probably the ultimate resource and starting a business can tax it heavilyA. FamilyB. FriendsC. MoneyD. Time
10. ______ means getting the customer to agree to buy.A. OpeningB. PromotingC. AuctioningD. Closing
11. Which of these is NOT an advantage of home businesses?A. Speed and ease of setting upB. Low cost of getting startedC. Ability to do the work away from your home and employerD. Always working "on the road" thereby enhancing productivity
12. Retail stores in which customers can come and buy products placed in the shops by a wide variety of sellersare calledA. Licensed outletsB. Franchised kiosksC. Consignment shopsD. Auctions
13. Having just enough products on your shelves to meet the immediate purchases refer toA. Micro inventoryB. Just-in-time inventoryC. Total quality managementD. Bootstrapping
14. A legal agreement that allows a business to be operated using the name and business procedures of anotherfirm is referred to as aA. FranchiseB. LicenseC. TurnkeyD. Consignment

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