Business Plan Exam Review 2
questions and complete answers
The term "micro-enterprise" usually refers to a business that has fewer than ___ employees -
correct answer ✔✔ 5
Compared to the general population, successful entrepreneurs tend to be: - correct answer ✔✔
Risk takers
It is best to be situated right next to your competition if you are selling something ____ - correct
answer ✔✔ similar (ex: gas stations)
Extrapolation means: - correct answer ✔✔ the action of estimating or concluding something by
assuming that existing trends will continue or a current method will remain applicable.
The specific address where a business can be found, refers to the - correct answer ✔✔ Business
site
Commonly, for a manufacturing business, the first priority for location is - correct answer ✔✔
space, area, distance from suppliers
Which of the following is a source of primary marketing research information? - correct answer
✔✔ Surveys conducted by the business itself
The first marketing research priority for a new business is to determine: - correct answer ✔✔
Market potential/demand
questions and complete answers
The term "micro-enterprise" usually refers to a business that has fewer than ___ employees -
correct answer ✔✔ 5
Compared to the general population, successful entrepreneurs tend to be: - correct answer ✔✔
Risk takers
It is best to be situated right next to your competition if you are selling something ____ - correct
answer ✔✔ similar (ex: gas stations)
Extrapolation means: - correct answer ✔✔ the action of estimating or concluding something by
assuming that existing trends will continue or a current method will remain applicable.
The specific address where a business can be found, refers to the - correct answer ✔✔ Business
site
Commonly, for a manufacturing business, the first priority for location is - correct answer ✔✔
space, area, distance from suppliers
Which of the following is a source of primary marketing research information? - correct answer
✔✔ Surveys conducted by the business itself
The first marketing research priority for a new business is to determine: - correct answer ✔✔
Market potential/demand
