Setting your price at $19

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Setting your price at $19.99 in order to entice customers is known as:

Select one:

a. Psychology pricing

b. Loss leader pricing

c. Price skimming

d. Penetration pricing

Question 22

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According to an assigned video we watched, the franchise model depends - most importantly - upon:

Select one:

a. An experienced business owner.

b. A good brand.

c. Strong management.

d. Adequate reserve funds for the franchise.

Question 23

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The actual cash and cash equivalents that come into and goes out of a business during an accounting period is known as:

Select one:

a. Revenue

b. Cash flow

c. Proceeds

d. Accounts receivables

Question 24

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True or false: In response to the domestic market becoming saturated, franchising is becoming a major U.S. export industry for the United States.

Select one:

a. True

b. False

Question 25

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Setting your prices below what similar, existing businesses are asking is considered:

Select one:

a. Psychology pricing

b. Loss leader pricing

c. Price skimming

d. Penetration pricing

Question 26

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According to an outside video we watched, __________ is essential to the success of starting a new business.

Select one:

a. Prior business ownership experience

b. Significant management experience

c. Enlisting the help of a coach

d. All of the above.

Question 27

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The levels of ethical standards for an organization include (and are bounded by):

Select one:

a. Legal requirements (the law), the organization's stance on ethics, and employees' morals

b. Legal requirements (the law), industry standards, employees' morals

c. Industry standards, employees' morals, customers' expectations

d. Industry standards, the organization's stance on ethics, and employees' morals

Question 28

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True or false: The opportunity to be creative is often reserved for a select few within an organization.

Select one:

a. True

b. False

Question 29

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Which of the following is a false statement?

Select one:

a. Fixed costs are expenses that stay the same no matter how many products you sell.

b. Variable costs are expenses that fluctuate up and down with sales of your products.

c. A break-even analysis is a good way to help you determine your profit margin per product.

d. Variable costs include the cost of goods sold, packaging expenses, production time, shipping costs, and marketing or promotional expenses.

Question 30

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_____________ needs to be ingrained in a company in order to be viable and successful in today's wildly-changing world (due to technology, globalism, and savvy consumer demands).

Select one:

a. Transformational leadership

b. Ethical leadership

c. A culture of creativity

d. Virtue ethics