BUSN 115 STUDY Extraordinary Success /busn115study.com BUSN 115 STUDY Extraordinary Success /busn115study | Page 53

is independently owned and operated and not dominant in its field
is funded through personal lines of credit and has fewer than 1,000
employees
Question 2. Question : (TCO 3) One of the general characteristics
of a small business is that it typically sells fewer products _____.
to a larger customer base
to fewer market segments
to foreign companies
at lower costs to government agencies
at higher costs
Question 3. Question : (TCO 3) Three factors contributing to the
increased number of small businesses are technologies such as e-
commerce, growing diversity in entrepreneurship, and _____.
Student Answer:
downsizing and outsourcing
increased ease in going public
nationalization
market regulation
monopolistic business practices
Question 4. Question : (TCO 3) Charles is the purchase agent for a
consulting firm. He places orders for office stationeries and
consumables once in two weeks. The purchases are made in large
quantities and are billed in the firm's name. The items that Charles
buys are exampl es of _____.
specialty products
expense items