Practice Quiz _1 - QUESTIONS

Practice Quiz _1 - QUESTIONS - Quiz #1 Please place your...

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Quiz #1 Please place your answers in pencil on the Scantron sheet. Answers recorded on this paper will not be counted. 1. Small businesses often have advantages in international markets. One advantage is: A) a greater expertise in managing the paperwork required to sell goods in international markets. B) a better understanding of the cultural differences involved. C) individualized customer service as opposed to impersonal corporate bureaucracies. D) the ability to obtain financing through the International Monetary Fund. 2. Located on Monsanto's world headquarters campus, the Nidus Center is a unique ___________ facility. The tenants are biotechnology companies who are at various stages of product development. The agricultural giant, Monsanto, the Danforth Foundation, Washington University St. Louis, St. Louis University, and several venture capital firms contribute seed money for these small start-up ventures that receive approval to further develop their ideas at the Nidus Center. A) incubator B) intrapreneurial C) enterprise zone D) micropreneurial 3. Efficiency in distribution systems around the world has led to: A) increased world trade. B) decreased world trade. C) decreased international competition. D) reduced standards of living around the world. 4. Jake considers himself to be a follower of Thomas Malthus. Which of the following statements would Jake be most likely to make? A) The key to economic growth is to keep taxes and government regulations to a minimum. B) Command economies are more likely to encourage economic growth than free market economies. C) Allowing people to follow their self-interest is the best way to generate economic growth and prosperity. D) A society will not experience sustainable economic progress unless it accepts the need to limit population growth. 5. Which of the following organizations is an example of the goods-producing sector of the economy? A) Ford Motor Company B) Florida State University C) Children's Hospital D) H & R Block Tax Consulting
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6. Luis is a partner in a firm that specializes in producing vitamins and health food products. While the business is considered small by U.S. standards, he is attempting to persuade his partner to expand internationally. Luis would list which of the following as an advantage of going international? A) Exporting can help sell excess inventory B) Marketing programs benefit from the cultural similarities in prospective markets C) Financing can easily be obtained to expand internationally D) Selling your products in other markets reduces their life cycle, making them more attractive 7. A good business plan will: A) focus on the big picture and omit the small details of operating the business. B) describe all aspects of the business, including product, the target market, the nature of the competition, any financial
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This note was uploaded on 02/03/2012 for the course BMGT 110 taught by Professor Nelson during the Fall '08 term at Maryland.

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Practice Quiz _1 - QUESTIONS - Quiz #1 Please place your...

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