G-Metrix Entrepreneurship & Small Business V.2 - U.s Practice Exam 1 Questions With Complete Solutions.

Which sales channel has open to manufactures but because of digital tools? {Ans: Direct to customer}Which two are benefits of equity funding? {Ans: • investors do not get paid if the business does not make a profit • can be used to raise working capital}you have an idea for a new product. market research suggests the product is needed to solve a problem and will be enthusiastically embraced by customers. What is one of the first steps you must do before creating a product prototype? {Ans: Identify materials}clarify several businesses as either B2B or B2C {Ans: B2B: •Wholesale flooring distributor •Purchases requiring a tax exemption certificate B2C: •Motorcycle repair shop •Chain of local grocery stores}You operate a small insurance office with a partner. which expense is a fixed cost? {Ans: Property lease for the office}Which three statements help define a market fit hypothesis {Ans: • product market fit exists when you have the right solution to a problem worth solving • a fit exists when people need your product rather than just seeing a potential benefit of using it • when users love your product so much to tell other people to use it}Which