Midterm Sample

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Name: ________________________ Class: ___________________ Date: __________

ID: A

BUS 478 Midterm Sample Questions
Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. Entry barriers in the embryonic stage are frequently based on a. brand loyalty. b. economies of scale. c. absolute cost advantages. d. economies of scope. e. technological know-how. 2. The threat from new entrants is greatest in the ____ stage of the industry life cycle. a. embryonic b. growth c. shakeout d. maturity e. decline 3. The experience curve refers to the a. learning by doing technique. b. company's overall experience in a particular industry. c. systematic lowering of the cost structure and unit cost reductions. d. diseconomies of scale caused by inexperienced workers. e. increases in unit costs experienced over time. 4. Most embryonic industries arise from a. a technological breakthrough. b. serendipity. c. patents. d. government research. e. university research and development programs. 5. In general, different markets a. develop at similar rates. b. develop at different rates. c. develop at lower than anticipated rates. d. develop at higher than anticipated rates. e. none of these choices. 6. Which of the following factors tends to accelerate customer demand for a product? a. The product's relative advantage b. The product's compatibility c. The simplicity of the product's use d. The degree to which a product can be experimented with e. All of these choices

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Name: ________________________ ____ 7. The razor-and-blade strategy was pioneered by a. Procter & Gamble. b. Sony. c. Toyota. d. Ford. e. Gillette. 8. A localization strategy is based on which of the following ideas? a. There is a convergence in the tastes of consumers in different nations of the world. b. There are substantial economies of scale to be realized from centralizing global production. c. Consumer tastes and...
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