Quiz 1
* Question 1
5 out of 5 points | | | Entrepreneurs are commonly characterized as:Answer | | | | | Selected Answer: | risk takers and decision makers. | Correct Answer: | risk takers and decision makers. | | | | | * Question 2
5 out of 5 points | | | The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the _____Answer | | | | | Selected Answer: | production era | Correct Answer: | production era | | | | | * Question 3
5 out of 5 points | | | To be successful entrepreneurs must be comfortable risking their money and _____ to start and manage a business.Answer | | | | | Selected Answer: | time | Correct Answer: | time | | | | | * Question 4
5 out of 5 points | | | In 1995, a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a:Answer | | | | | Selected Answer: | tax on imports. | Correct Answer: | tax on imports. | | | | | * Question 5
5 out of 5 points | | | The four major categories of factors of production are:Answer | | | | | Selected Answer: | natural resources, capital, human resources, and entrepreneurship. | Correct Answer: | natural resources, capital, human resources, and entrepreneurship. | | | | | * Question 6
5 out of 5 points | | | In the relationship era, firms began to recognize that cultivating current customers is more profitable than constantly _____Answer | | | | | Selected Answer: | seeking new customers. | Correct Answer: | seeking new customers. | | | | | * Question 7
5 out of 5 points | | | During the marketing era consumers found:Answer | | | | | Selected Answer: | more choices for goods and services. | Correct Answer: | more choices for goods and services. | | | | | *
5 out of 5 points | | | Entrepreneurs are commonly characterized as:Answer | | | | | Selected Answer: | risk takers and decision makers. | Correct Answer: | risk takers and decision makers. | | | | | * Question 2
5 out of 5 points | | | The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the _____Answer | | | | | Selected Answer: | production era | Correct Answer: | production era | | | | | * Question 3
5 out of 5 points | | | To be successful entrepreneurs must be comfortable risking their money and _____ to start and manage a business.Answer | | | | | Selected Answer: | time | Correct Answer: | time | | | | | * Question 4
5 out of 5 points | | | In 1995, a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a:Answer | | | | | Selected Answer: | tax on imports. | Correct Answer: | tax on imports. | | | | | * Question 5
5 out of 5 points | | | The four major categories of factors of production are:Answer | | | | | Selected Answer: | natural resources, capital, human resources, and entrepreneurship. | Correct Answer: | natural resources, capital, human resources, and entrepreneurship. | | | | | * Question 6
5 out of 5 points | | | In the relationship era, firms began to recognize that cultivating current customers is more profitable than constantly _____Answer | | | | | Selected Answer: | seeking new customers. | Correct Answer: | seeking new customers. | | | | | * Question 7
5 out of 5 points | | | During the marketing era consumers found:Answer | | | | | Selected Answer: | more choices for goods and services. | Correct Answer: | more choices for goods and services. | | | | | *