Solved by verified expert :57. What percentage of businesses in the
service sector are small?
a) 71 percent
b) 51 percent
c) 31 percent
d) 11 percent
58.
William Smith works for an
automobile company that generates an annual revenue exceeding $200 million, but
accounts for less than one percent of the global automobile market. Based on this information, the company that
William works for would be considered a
a) Conglomerate
b) Corporation
c) Small business
d) Franchise
59.
The __________ sector of the
U.S. economy makes up about 60 percent of total U.S. jobs.
a) Manufacturing
b) Agricultural
c) IT
d) Service
60. Although Small Business Administration
(SBA) standards allow up to 500 employees in some types of businesses, the most
common limit is
a) 10
b) 50
c) 100
d) 200
61. Until the early 1800s, most goods were
produced
a) By small manufacturers
b) By workers in their
cottages
c) By large factories
d) By large groups of
workers in the town hall
62. The term economy of scale refers to which
of the following?
a) Increasing costs
through the production of larger quantities
b) Decreasing costs
through the production of larger quantities
c) Decreasing costs
through the production of smaller quantities
d) Increasing costs
through the production of smaller quantities
63. The marketing concept was a paradigm shift
that involved
a) A focus on production
b) A focus on quality
c) A focus on consumer
wants and needs
d) A focus on marketing
64. What startup business of the 1960s used
flatter organizational structure, improved customer service, and more
flexibility to knock Sears out of its role of world’s largest retailer?
a) K-Mart
b) Woolco
c) Wal-Mart
d) Target
65.
To avoid business failure,
Terri Holt, a small business owner, has reduced the size of her company’s
workforce by ten percent. This action is
referred to as
a) Downsizing
b) Outsourcing
c) Innovating
d) Networking
66.
Which of the following is a
valid tactic for weathering an economic storm?
a) Jettisoning the best customers
b) Reducing cooperation with suppliers
c) Finding recession-resistant opportunities
d) Hiding cash
