Instruction:
1. First try your hands on by answering ALL questions for the objectives
2. Click the Submit Button to see how you performed and the suggested answers.
SECTION B - CLICK HERE
1. Kwesi pursued carpentry and joining program at the Kumasi Technical Institute. After a successful completion of his program, he started his own carpentry shop and now has two apprentices working with him.
Kwesi can be classified as......entrepreneur.
2. An original, functional model of a product that potential customers can see, test and use is called
3. Mr. Agyeman Badu a tutor at Abura R/C primary school was elected as the parliamentary candidate for Cape Coast constituency and failed to
retain his seat after 8 years in parliament. Having no political appointment and also not considering to go back to the classroom started his own private business. Mr. Agyeman Badu can be classified under which of the sociological approaches to entrepreneurship?
4. Which of the following methods of generating business idea appoints a moderator to lead a group of people through an open, in death discussion rather than simply asking questions to solicit response?
5. Which of the following government agencies is not responsible for the development of small and medium enterprises in Ghana?
6. According to Hisrich and Peters which of the following is the largest source of new business idea?
7. Stephen, the general manager of PKB Ltd negotiated with the current owners of the same business and bought 80% shares to become a part-owner. Which option of small business purchase is this?
8. The name and address of the company, the name of the entrepreneur and his contact numbers can be found at which section of the business plan?
9. New venture goes through phases, which of the following is not part of the phases.
10. Which of the following is not one of the characteristics of a firm's resources?
11. Which of the following 4p's of marketing involves all aspects of getting the products to the consumer in the right location at the right time?
12. The medium for gathering information that serves as the foundation for the marketing plan is referred to as
13. Which of the following is not a marketing strategy to increase firm's sales?
14. Which of the following is not one of the factors to be considered when assessing the credit worthiness of a firm?
Use this mini case to answer questions 15 - 18
Rex Athletes Shop mini case:
Rex wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as the local athletic mega-store. So, he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Rex's advertising campaign emphasizes his store's high standard of customer service and selection of products
specifically tailored to meet the needs of runners.
15. In the mini case, the process of dividing the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers, is known as
16. In the case, Rex decides to focus his attention on that segment of the market that is interested in running. This selection of a specific market segment is known as
17. By portraying his store as a one-stop-shop for all your running needs, Rex has developed a distinct image for his store. This is an example of
18. Which of the four elements of the marketing mix does Rex emphasize in positioning his store in the marketplace?
19. An instrument issued by a company to acknowledge the loan taken by the company under its common seal is referred to as Shares.
20. Current Ratio is one of the profitability ratios.
