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Multiple Choice Quiz
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1
Part-time self-employment involves working for yourself for 40 or fewer hours a week.
A)True
B)False
2
When you are new to business and need to gain basic experience is one situation in which you can/should consider part-time business.
A)True
B)False
3
Having a location with enough foot or vehicle traffic to sustain the business is a key success factor for a stand.
A)True
B)False
4
Systems networking is an approach to selling in which the salesperson recruits customers to become distributors of the product or service to others.
A)True
B)False
5
The high cost of getting started and the inability to get by without major inventory investment are the challenges of mail order and catalog sales.
A)True
B)False
6
Most retail firms typically start out as a hobby according to research.
A)True
B)False
7
Taking business away from your employer refers to aggrandizing.
A)True
B)False
8
______ indicates that you are working at your business 35 hours a week or less.
A)Franchising
B)Part-time self-employment
C)Aggrandizing
D)Full-time self-employment
9
______ is NOT one of the full-time approaches.
A)Stand retail
B)Buying or inheriting existing businesses
C)Franchising
D)Opening a new full-time business
10
______ refers to the frequency of business starts and stops.
A)Microinventory
B)Moonlighting
C)Bootstrapping
D)Volatility
11
If you are new to business and working on your own, estimates suggest that a business plan could take from _____ hours or more.
A)10-20
B)50 to 200
C)500-1000
D)20-40
12
An advantage of stand retailing is which of these?
A)Variable income
B)Strong consumer base
C)Can start with little investment
D)Legal requirements
13
______ is NOT an advantage of home businesses.
A)Always working "on the road" thereby enhancing the productivity
B)Low cost of getting started
C)Ability to do the work away from your home and employer
D)Speed and ease of set up
14
Customers can come and buy products placed in the shops by a wide variety of sellers in retail stores called
A)franchised kiosks.
B)consignment shops.
C)licensed outlets.
D)auctions.
15
A disadvantage of a consignment approach can be represented by
A)long amount of time before payouts.
B)set up cost.
C)full-time sale with only part-time involvement fro you.
D)availability of different consignment stores and auctions.
16
A set of goods or services that consists of only one or a few items is called
A)bootstrapping.
B)just-in-time inventory.
C)microinventory.
D)outsourcing.
17
Having just enough product on hand to meet the immediate purchases is called
A)bootstrapping.
B)just-in-time inventory.
C)microinventory.
D)outsourcing.
18
______ is a key device for managing time for part-time business individuals.
A)Outsourcing
B)To-do list
C)Hiring of people to do the job
D)Auction
19
The documented permission from the government to run your business is called
A)licensing.
B)bootstrapping.
C)delegation.
D)zoning.
20
The government specifications for acceptable use of land and buildings in particular areas is called
A)licensing.
B)bootstrapping.
C)delegation.
D)zoning.
21
______ refers to the assignment of work to others over whom you have power.
A)Licensing
B)Outsourcing
C)Zoning
D)Delegation
22
______ is using low-cost techniques to minimize your cost of doing business.
A)Licensing
B)Moonlighting
C)Outsourcing
D)Bootstrapping
23
______ is working on your own part-time business after your regular job.
A)Licensing
B)Moonlighting
C)Outsourcing
D)Bootstrapping
24
______ is the most typical form of aggrandizement.
A)Creating a negative impression among your employer's customers
B)Finding a low-cost or no-cost way to do something
C)Working on your own part-time business after your regular job
D)Implying that a firm is a full-time one when it is only part-time
25
______ is creating a negative impression among your employers' customers.
A)Poisoning the well
B)Poisoning the water
C)Aggrandizing
D)Ungrandizing





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