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Category > Business & Finance Posted 08 Aug 2023 My Price 5.00

Business 302 Foundations of Leadership Chapter 11 Quiz 8 Small Business in a Global Market - Quiz & Worksheet

1. What is the biggest advantage big business has over small business in the global marketplace?

  1. They are bigger in size with lower revenues than a small business.
  2. They can sell their products cheaper than a small business.
  3. They use online technology, whereas a small business does not.
  4. They have access to resources not often available to a small business.

2. Which of the following helps a small business compete with big business in the global market?

  1. Using technology and outsourcing
  2. Using marketing to promote its product
  3. Selling cheaper products
  4. Catering to wealthier customers

3. What is outsourcing?

  1. A business hiring an outside business to perform a function traditionally done internally.
  2. A business hired to provide services for a bigger global business.
  3. A business exporting goods to other countries.
  4. A business importing goods from another country to sell at a higher cost in the domestic market.

4. How does the global market work?

  1. Businesses trade with each other on a national scale.
  2. Businesses seek customers and compete against businesses from around the world.
  3. The daily workings of any market or business found in any country of the world.
  4. Businesses seek customers and compete against other domestic businesses.

5. Which of the following is true about a small business in the global marketplace?

  1. A small business is much more difficult to topple over than a big business in the global marketplace.

  2. A small business has a limited amount of resources compared to a big business.

  3. A small business has an information advantage over a big business.

  4. A small business has less ability to quickly adapt to changes in the market compared to a big business.

Answers

SmartExpert
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Status NEW Posted 08 Aug 2023 11:08 AM My Price 5.00

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