11 May WHICH OF THE FOLLOWING IS A VALID TACTIC FOR WEATHERING AN ECONOMIC STORM?
The marketing concept was a paradigm shift
that involved
a) A focus on production
b) A focus on quality
c) A focus on consumer
wants and needs
d) A focus on marketing
64. What startup business of the 1960s used
flatter organizational structure, improved customer service, and more
flexibility to knock Sears out of its role of world’s largest retailer?
a) K-Mart
b) Woolco
c) Wal-Mart
d) Target
65.
To avoid business failure,
Terri Holt, a small business owner, has reduced the size of her companys
workforce by ten percent. This action is
referred to as
a) Downsizing
b) Outsourcing
c) Innovating
d) Networking
66.
Which of the following is a
valid tactic for weathering an economic storm?
a) Jettisoning the best customers
b) Reducing cooperation with suppliers
c) Finding recession-resistant opportunities
d) Hiding cash
57. What percentage of businesses in the
service sector are small?a) 71 percentb) 51 percentc) 31 percentd) 11 percent 58.
William Smith works for an
automobile company that generates an annual revenue exceeding $200 million, but
accounts for less than one percent of the global automobile market. Based on this information, the company that
William works for would be considered a a) Conglomerateb) Corporationc) Small businessd) Franchise 59.
The __________ sector of the
U.S. economy makes up about 60 percent of total U.S. jobs.a) Manufacturingb) Agriculturalc) ITd) Service 60. Although Small Business Administration
(SBA) standards allow up to 500 employees in some types of businesses, the most
common limit isa) 10b) 50c) 100d) 200 61. Until the early 1800s, most goods were
produceda) By small manufacturersb) By workers in their
cottagesc) By large factoriesd) By large groups of
workers in the town hall 62. The term economy of scale refers to which
of the following?a) Increasing costs
through the production of larger quantitiesb) Decreasing costs
through the production of larger quantitiesc) Decreasing costs
through the production of smaller quantitiesd) Increasing costs
through the production of smaller quantities 63. The marketing concept was a paradigm shift
that involveda) A focus on productionb) A focus on qualityc) A focus on consumer
wants and needsd) A focus on marketing 64. What startup business of the 1960s used
flatter organizational structure, improved customer service, and more
flexibility to knock Sears out of its role of world’s largest retailer?a) K-Martb) Woolcoc) Wal-Martd) Target 65.
To avoid business failure,
Terri Holt, a small business owner, has reduced the size of her companys
workforce by ten percent. This action is
referred to as a) Downsizing b) Outsourcingc) Innovatingd) Networking 66.
Which of the following is a
valid tactic for weathering an economic storm?a) Jettisoning the best customersb) Reducing cooperation with suppliersc) Finding recession-resistant opportunitiesd) Hiding cash
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