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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: 4. Jake considers himself to be a follower of Thomas Malthus. Which of the following statements would Jake be most likely to make? 5. Which of the following organizations is an example of the goods-producing sector of the economy?
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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 resources, and the owner's qualifications.
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Practice Quiz _1 - QUESTIONS - Quiz#1 Please place your...

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