DECA Entrepreneurship Exam questions
with correct answers already passed
Which of the following is a type of intangible business property that is protected
by law. - correct answer ✔✔Trademark. A trademark is a symbol, design, or word
used by a business to identify a good or service and is registered with the
government to prevent its use by others. A trademark is an example of intangible
business property. Federal law protects a business's intangible property from
being used by competitors.
Basic torts relating to businesses often involve disputes concerning. - correct
answer ✔✔Contracts. Business torts are wrongful actions against a business that
cause it harm in some way. Disputes concerning contracts are often the basis for
businesses suing individuals or other businesses. Many businesses have
contractual arrangements with employees or vendors. If these contracts are
broken, the business might be harmed and seek compensation through the legal
system.
Which of the following is a characteristic of a business-format franchise. - correct
answer ✔✔Continuous assistance is provided by the franchiser. A business-format
franchise is a more complex and more popular type of franchise arrangement than
the product trade-name franchise. It involves a close, continuous working
relationship between the franchiser and the franchisee. Examples of the business
format franchise are McDonald's, Holiday Inn, and Jiffy Lube. Products and other
materials usually must be purchased from the franchiser's list of approved
vendors. The franchisee must operate under the trade name of the franchiser.
Limited liability, indefinite length of life, ease of expansion, legal entity, and
transfer of ownership are considered advantages of a. - correct answer
,✔✔Corporation. Corporations are advantageous due to the separate legal body
that is created by a state charter. The charter limits individual liability, allows for
permanency of existence, ease in transferring ownership, and a greater number of
resources for financial growth.
Channels of distribution benefit consumers by. - correct answer ✔✔Making a
variety of products available to them. Channels of distribution benefit consumers
by making a variety of products available to them. Without these channels,
consumers could only buy products directly from producers, which would be
impractical. Channels may lower some but not all consumer product prices. They
may raise the quality of some but not all consumer products. Increased profits for
businesses is not a benefit for consumers.
For which of the following markets would producers use a short channel of
distribution. - correct answer ✔✔Local consumers. A short channel can be used
when the potential customers are few and/or located close together.
If a business considers where the consumers are and who they are before
selecting a channel of distribution, the business is considering the __________
factor. - correct answer ✔✔Market. Market factors deal with where the
consumers are, who they are, the information they require, and the size of their
orders. Understanding the market is an important aspect of selecting the best
channel of distribution. For example, it is important for businesses to know that
most consumers prefer to buy products from retailers.
What do business employees often need to do before they are able to write
proposals? - correct answer ✔✔Research the problem. Proposals are intended to
answer questions or provide recommendations to solve problems. Business
employees often need to research a particular situation or problem before they
are able to write proposals. After employees do research and gather information,
, they write proposals that explain the problem and the solutions. The proposal is
intended to persuade the business to follow the recommendations.
Which of the following is an example of a manager developing a policy that
impacts customer relations. - correct answer ✔✔Extending business hours on
weekends. Management is responsible for developing policies, and many of these
policies have an impact on customer relations. An example of a policy that usually
improves customer relations is providing extended business hours on weekends.
Many customers work during the week and only have free time in the evenings
and on weekends. Businesses that offer extended hours on weekends are making
it easy for customers to buy when it is convenient for them.
What should a successful brand promise be able to do? - correct answer
✔✔Communicate an appealing benefit. A brand promise is a business's
agreement (spoken or unspoken) with customers that it will consistently meet
their expectations and deliver on its brand characteristics and values. Before the
business can deliver on its brand promise, it must have a product that offers an
appealing benefit—one that persuades the target market to buy.
Which of the following is one way that freedom in a private enterprise system is
limited by laws. - correct answer ✔✔Certain occupations must be licensed. Even
though there are many economic freedoms in a private enterprise system, there
are certain limits. Economic freedom is limited by laws that have been created to
protect everyone. Workers in certain occupations must be licensed to safeguard
public health and safety. Pay scales are not regulated but vary greatly depending
on the occupation, area of the country, and current economic conditions.
During the month of July, sales at Handy's Shoe Mart totaled $2,500. The cost of
the shoes was $1,025. The owner paid $866 for supplies, insurance, rent, and
utilities during the month. The $609 left over represents the owner's. - correct
with correct answers already passed
Which of the following is a type of intangible business property that is protected
by law. - correct answer ✔✔Trademark. A trademark is a symbol, design, or word
used by a business to identify a good or service and is registered with the
government to prevent its use by others. A trademark is an example of intangible
business property. Federal law protects a business's intangible property from
being used by competitors.
Basic torts relating to businesses often involve disputes concerning. - correct
answer ✔✔Contracts. Business torts are wrongful actions against a business that
cause it harm in some way. Disputes concerning contracts are often the basis for
businesses suing individuals or other businesses. Many businesses have
contractual arrangements with employees or vendors. If these contracts are
broken, the business might be harmed and seek compensation through the legal
system.
Which of the following is a characteristic of a business-format franchise. - correct
answer ✔✔Continuous assistance is provided by the franchiser. A business-format
franchise is a more complex and more popular type of franchise arrangement than
the product trade-name franchise. It involves a close, continuous working
relationship between the franchiser and the franchisee. Examples of the business
format franchise are McDonald's, Holiday Inn, and Jiffy Lube. Products and other
materials usually must be purchased from the franchiser's list of approved
vendors. The franchisee must operate under the trade name of the franchiser.
Limited liability, indefinite length of life, ease of expansion, legal entity, and
transfer of ownership are considered advantages of a. - correct answer
,✔✔Corporation. Corporations are advantageous due to the separate legal body
that is created by a state charter. The charter limits individual liability, allows for
permanency of existence, ease in transferring ownership, and a greater number of
resources for financial growth.
Channels of distribution benefit consumers by. - correct answer ✔✔Making a
variety of products available to them. Channels of distribution benefit consumers
by making a variety of products available to them. Without these channels,
consumers could only buy products directly from producers, which would be
impractical. Channels may lower some but not all consumer product prices. They
may raise the quality of some but not all consumer products. Increased profits for
businesses is not a benefit for consumers.
For which of the following markets would producers use a short channel of
distribution. - correct answer ✔✔Local consumers. A short channel can be used
when the potential customers are few and/or located close together.
If a business considers where the consumers are and who they are before
selecting a channel of distribution, the business is considering the __________
factor. - correct answer ✔✔Market. Market factors deal with where the
consumers are, who they are, the information they require, and the size of their
orders. Understanding the market is an important aspect of selecting the best
channel of distribution. For example, it is important for businesses to know that
most consumers prefer to buy products from retailers.
What do business employees often need to do before they are able to write
proposals? - correct answer ✔✔Research the problem. Proposals are intended to
answer questions or provide recommendations to solve problems. Business
employees often need to research a particular situation or problem before they
are able to write proposals. After employees do research and gather information,
, they write proposals that explain the problem and the solutions. The proposal is
intended to persuade the business to follow the recommendations.
Which of the following is an example of a manager developing a policy that
impacts customer relations. - correct answer ✔✔Extending business hours on
weekends. Management is responsible for developing policies, and many of these
policies have an impact on customer relations. An example of a policy that usually
improves customer relations is providing extended business hours on weekends.
Many customers work during the week and only have free time in the evenings
and on weekends. Businesses that offer extended hours on weekends are making
it easy for customers to buy when it is convenient for them.
What should a successful brand promise be able to do? - correct answer
✔✔Communicate an appealing benefit. A brand promise is a business's
agreement (spoken or unspoken) with customers that it will consistently meet
their expectations and deliver on its brand characteristics and values. Before the
business can deliver on its brand promise, it must have a product that offers an
appealing benefit—one that persuades the target market to buy.
Which of the following is one way that freedom in a private enterprise system is
limited by laws. - correct answer ✔✔Certain occupations must be licensed. Even
though there are many economic freedoms in a private enterprise system, there
are certain limits. Economic freedom is limited by laws that have been created to
protect everyone. Workers in certain occupations must be licensed to safeguard
public health and safety. Pay scales are not regulated but vary greatly depending
on the occupation, area of the country, and current economic conditions.
During the month of July, sales at Handy's Shoe Mart totaled $2,500. The cost of
the shoes was $1,025. The owner paid $866 for supplies, insurance, rent, and
utilities during the month. The $609 left over represents the owner's. - correct
