Many small firms seek to establish a particular niche in the market, realizing that they cannot afford to operate on a larger scale without exposing themselves to considerable risk of retaliation from larger companies. When a number of small businesses are operating in this manner, they are forcing the larger businesses to recognize and account for their influence on the market. In this way, small businesses are primarily
A. fostering competition.
B. providing technical innovation.
C. creating jobs.
D. satisfying the needs of other businesses.
E. avoiding competition.
Answer: A
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The equation for the Phillips curve in an economy is ? = ?e? 0.5(U? 5),If the inflation rate is 4 percent and the unemployment rate is 6 percent, then the expected inflation rate in the economy must be
A. 2.5 percent. B. 4.0 percent. C. 4.5 percent. D. 5.0 percent.
Which of the following is most likely an objective of informative advertising?
A) build brand preference B) change customer perceptions of brand value C) encourage customers to switch brands D) suggest new uses for a product E) keep the brand in customer minds during off-seasons
Self-employed individuals get a tax break on FICA taxes
Indicate whether the statement is true or false
Which step of the personal-selling process is difficult because it requires the salesperson to overcome the fear of being rejected?
A. handling objections B. gaining commitment C. preapproach D. sales presentation E. approach