Quiz No. 4-2 Entrepreneurship QUIZ NO. 4-2 Entrepreneurship

QUIZ NO. 4- 2 QUIZ NO.
4-2
ENTREPRENEURSHIP ENTREPRENEURSHIP
1. It is the one that is attractive to potential 1. It is the one that is attractive to potential
clienteles or market with reasonable returns for clienteles or market with reasonable returns for
entrepreneurs. entrepreneurs.
2. It considers the market forces as the benchmark 2. It considers the market forces as the benchmark
in pricing a product or service. in pricing a product or service.
3. this mode of pricing should consider production 3. this mode of pricing should consider production
costs and other related cost. costs and other related cost.
4. It focuses on annual profit target. 4. It focuses on annual profit target.
5. It influenced by the optimum combination of 5. It influenced by the optimum combination of
volume and profit as well as a number of volume and profit as well as a number of
downside factor downside factor
6. This entails offering a line of goods with special 6. This entails offering a line of goods with special
prices within the line. prices within the line.
7. the entrepreneur sets the price high initially, 7. the entrepreneur sets the price high initially,
then lower it later. then lower it later.
8. This pricing scheme means setting the price 8. This pricing scheme means setting the price
high for people who are willing to pay for the high for people who are willing to pay for the
status. status.
9. It is a strategy to get customers to buy a group 9. It is a strategy to get customers to buy a group
of related items in a single package. of related items in a single package.
10. The prices on the products is based on those 10. The prices on the products is based on those
established by the traditional products or those established by the traditional products or those
prices earlier used by competitors prices earlier used by competitors
11. It used by the government agencies to provide a 11. It used by the government agencies to provide a
level playing field among competing products or level playing field among competing products or
services suppliers and to promote services suppliers and to promote
transparencies. transparencies.
12. It is usually done by manufacturers, 12. It is usually done by manufacturers,
wholesalers, and retailers and done by simply wholesalers, and retailers and done by simply
adding a set of amount to the cost of the adding a set of amount to the cost of the
product to arrive at a price. product to arrive at a price.
13. this approach uses a specific percentage of ROI 13. this approach uses a specific percentage of ROI
as minimum expected. as minimum expected.
14. this pricing scheme is done by adding a fixed fee 14. this pricing scheme is done by adding a fixed fee
to the pre-identified cost. to the pre-identified cost.
15. This scheme means changing the pricing the 15. This scheme means changing the pricing the
firm’s experience grow. firm’s experience grow.
16. a product for which the price is purposely set 16. a product for which the price is purposely set
below cost, with the hope that it will attract below cost, with the hope that it will attract
buyers to the store who will then purchase buyers to the store who will then purchase
other products other products
17. The entrepreneur sets the price low to attract 17. The entrepreneur sets the price low to attract
customer. customer.
18. You start with a final price you want to charge, 18. You start with a final price you want to charge,
then work backward through the margins you then work backward through the margins you
have to pay to the retailers and wholesalers, the have to pay to the retailers and wholesalers, the
need to adjust cost will be able to get the price need to adjust cost will be able to get the price
you acquire. you acquire.
19. It is also known as absorption costing. 19. It is also known as absorption costing.
20. this scheme puts prices at odd numbers. 20. this scheme puts prices at odd numbers.
21. – these items include indirect expenses 21. – these items include indirect expenses
acquired to operationalize the business. acquired to operationalize the business.
22. It includes wages, salaries and benefits paid to 22. It includes wages, salaries and benefits paid to
the employees. the employees.
23. This refer to the amount of income earned 23. This refer to the amount of income earned
24. A low price may discourage competitors and 24. A low price may discourage competitors and
may allow to increase production level. may allow to increase production level.
25. this pricing scheme is done by adding a fixed fee 25. this pricing scheme is done by adding a fixed fee
to the pre-identified cost. to the pre-identified cost.
26-32 Principles of Fair Pricing 26-32 Principles of Fair Pricing
33-35 Parameters in pricing a service business 33-35 Parameters in pricing a service business

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