Question 1

Marvella has created a high-frequency buzzer that prevents dogs from barking. The moment dogs hear the buzzer's high-pitched squeal, they stop barking. Extensive market testing has shown Marvella that the buzzer works across all breeds and on dogs of all ages. This product can be a lifesaver for people who live in apartment buildings and whose neighbors complain about barking dogs! Marvella should immediately apply for a

Accepted Answer

A)   patent.
B)   copyright.
C)   trademark.
D)   government-sponsored monopoly.
E)   noncompete clause.F) C) and D)
G) B) and E)

Question 2

You work as an advisor at the Small Business Administration. Sally Sheridan has come to you seeking your advice. She is an aesthetician who is just thinking about starting her own business. She wants to own a beauty-services salon that provides manicures, pedicures, massages, hair styling, make-up, and other services. What is the best piece of advice you can give her?

Accepted Answer

A)   Quit your current job so that you can devote all of your time to researching and planning the type of business you want to open.
B)   At the start, plan to hire only friends and family-the people most likely to help your business become successful.
C)   Learn the importance of budgeting and understand how to read a balance sheet and income statement.
D)   As you begin to think about your business, your key long-term goal should be to have as many employees as possible.
E)   Assume that the local market wants and needs the service that you plan to offer; the fact that you see a need for that service means that the community does, too.F) B) and C)
G) B) and D)

Question 3

In general, a company that starts with a business plan is ________ to succeed than a company that does not start with a business plan.

Accepted Answer

A)   much less likely
B)   somewhat less likely
C)   much more likely
D)   somewhat more likely
E)   equally likelyF) All of the above
G) C) and D)

Exam 17: Entrepreneurship

In general, a company that starts with a business plan is ________ to succeed than a company that does not start with a business plan.

Correct Answer
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Correct Answer
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Correct Answer
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Exam 17: Entrepreneurship

In general, a company that starts with a business plan is ________ to succeed than a company that does not start with a business plan.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified