The term economy of scale refers to which of the following

by | Aug 20, 2025 | Business

aa1.(TCO 1) The term economy of scale refers to which
of the following?
(Points : 5)

Increasing of costs through the production of larger
quantities
Decreasing of costs through the production of larger
quantities
Decreasing of costs through the production of smaller
quantities
Increasing of costs through the production of smaller
quantities

Question 2. 2.(TCO 1) You have a small business that offers printing
services. One of the services you offer is a high-speed color copier. You
are currently the only printing service in a tristate area that offers such
a service. You currently have which of the following?
(Points : 5)

Creative destruction
A competitive advantage
A qualitative advantage
A capital advantage

Question 3. 3.(TCO 1) Which of the following are the inherent factors
that work in favor of small businesses?
(Points : 5)

Ability to remain flexible and innovative
Management expertise
Emphasis on variety
Emphasis on quantity

Question 4. 4.(TCO 1) Which of the following is the key element needed
to bring the entrepreneurial idea to reality during the implementation
stage?
(Points : 5)

Capital or money
Commitment
Management expertise
A college education

Question 5. 5.(TCO 1) Which of the following is the most common form
of business ownership?
(Points : 5)

Sole proprietorships
Partnerships
Corporations
Joint ventures

Question 6. 6.(TCO 4) The best time for a small business to get a
lawyer is _____.
(Points : 5)

when the business is in trouble
during court hearings
when writing the business plan
while the business is still an idea

Question 7. 7.(TCO 4) Location analysis involves several factors such
as _____. (Points : 5)

price of land
proximinty to customers
quality and quantity of workforce
All of the above

Question 8. 8.(TCO 4) The average American spends approximately _____
hours per week watching television.
(Points : 5)

20
50
65
92

Question 9. 9.(TCO 4) Managing inventory can be compared to which of
the following?
(Points : 5)

A balancing act
Preparing for a test
Driving a bus
Lion taming

Question 10. 10.(TCO 4) What is the key word in evaluating a channel of
distribution? (Points : 5)

Location
Plastics
Competition
Efficiency

Question 11. 11.(TCO 4) A long-term agreement to rent a building,
equipment, or other assets is known as a _____. (Points : 5)

lease
rental contract
legally liable contract
business contract

Question 12. 12.(TCO 4) Which of the following is one of the most
flexible components of the marketing mix?
(Points : 5)

Product
Promotion
Place
Price

Question 13. 13.(TCO 4) To accomplish the goals of maximizing short- or
long-run profits and to quickly recover development costs, which of the
following is an appropriate strategy?
(Points : 5)

Penetration pricing
Price skimming
Psychological pricing
Price lining

Question 14. 14.(TCO 2) Through the franchise agreement, the _____ gains
the benefit of the parent company’s expertise, experience, management
systems, marketing, and financial help.
(Points : 5)

franchisor
franchisee
leaser
lessee

Question 15. 15.(TCO 2) The financial document that is used by start-up
businesses to show where capital comes from and for what it will be used is
called _____.
(Points : 5)

a cash-flow statement
a projected earnings statement
the sources and uses of funds
an income statement

Question 16. 16.(TCO 2) Many people just starting a new business focus
on what?
(Points : 5)

Spare time
The excitement and emotions involved in beginning a new
business
Hiring good employees
Making a profit

Question 17. 17.(TCO 3) When analyzing financial statements, remember
that profits can be increased and expenses can be decreased to make the
records look better _____.
(Points : 5)

in the short run
in the long run
for tax purposes
for bank audits

Question 18. 18.(TCO 3) Which of the following is not an advantage of
new business startups?
(Points : 5)

Freedom to create
Ability to create a distinctive competitive advantage
No negative image due to someone else’s mistake
Well-established clientele

Question 19. 19.(TCO 3) Most fast-growth companies are started by _____.
(Points : 5)

sole proprietorships
partnerships
corporations
home-based businesses

Question 20. 20.(TCO 3) A company that strives to offer good products at
the lowest price possible is operating with which competitive advantage?
(Points : 5)

Operational excellence
Product leadership
Customer intimacy
Best service method

Question 21. 21.(TCO 5) Which one of these is not a tool that is used
during the selection process?
(Points : 5)

Applications
Resumes
Drug testing
None of the above

Question 22. 22.(TCO 5) Job analysis will _____. (Points : 5)

identify the tasks needed to implement your business plan
identify the human capital needed to implement your
business plan
identify the skills needed to implement your business plan
None of the above

Question 23. 23.(TCO 5) The Equal Employment Opportunity Commission
_____ that the information from a job analysis be used to ensure equal
employment opportunity.
(Points : 5)

strongly urges and sometimes requires
always requires
urges
does not care

Question 24. 24.(TCO 6) A production process that operates for long
periods of time without interruption is known as what?
(Points : 5)

Analytic system
Synthetic system
Continuous process
Intermittent process

Question 25. 25.(TCO 6) Information that shows the steps required to
produce a product is called which of the following?
(Points : 5)

Routing
Sequencing
Dispatching
Controlling

Question 26. 26.(TCO 7) An account number of 13 would represent which of
the following accounts?
(Points : 5)

Accounts payable
Accrued taxes
Insurance expense
Accounts receivable

Question 27. 27.(TCO 7) Equity funds never need to be _____. (Points : 5)

repaid
accounted for
stated on the income statement
stated on the balance sheet

Question 28. 28.(TCO 8) In our lecture, we discussed the difference in
the missions of today’s companies. The mission of a company in
the 21st century is to maximize shareholder _____. (Points : 5)

wealth
value
investment
None of the above

Question 29. 29.(TCO 9) Economist Milton Friedman emphasized the fact
that business had “one and only one social responsibility,” that
being _____.
(Points : 5)

economic responsibility
legal responsibility
ethical responsibility
philanthropic responsibility

Question 30. 30.(TCO 9) A long-term planning tool used for viewing a
business and the environments in which it operates in the broadest terms is
_____.
(Points : 5)

strategic planning
intermediate planning
short-term planning
strategic alternatives

1.(TCO 1) Compare and contrast the two main causes of
small business failure. Discuss how these small business failures can be
avoided. (Points : 14)

Question 2. 2.(TCO 3) Analyze three areas that should be researched when
deciding whether or not to purchase an existing business. Using examples,
evaluate these three areas and their importance. (Points : 14)

Question 3. 3.(TCO 4) Compare and contrast economic order quantity and
just in time as inventory control methods. Evaluate how these control methods
can improve the financial position of a small business. (Points : 14)

Question 4. 4.(TCO 6) Compare and contrast the process layout and the
product layout. Evaluate the effectiveness of each. (Points : 14)

Question 5. 5.(TCO 9) Analyze the benefits of a code of ethics
for a business. (Points : 14)

Order a similar assignment, and have writers from our team of experts write it for you, guaranteeing you an A

Order Solution Now