GMETRIX Entrepreneurial
Certification Exam Study Guide with
Questions and Complete Solutions (A+
Guaranteed)
What is a Target Market? correct answers Customers to whom a company wants to sell its
products and services.
A photographer wants to do a SWOT Analysis with the characteristics identified.
Setup a SWOT Analysis with the characteristics provided about this business by matching the
company characteristic with the appropriate SWOT element. correct answers Strengths:
Large gallery of stock photos.
Weaknesses: Working alone, no skilled help.
Opportunities: Increase in weddings expected as COVID restrictions ease.
,Threats (T): COVID pandemic restrictions disallow large family gatherings.
Match each Pricing Strategy to its corresponding description. correct answers Economy Pricing:
Prices that targeting customers looking to save as much money as possible.
Bundle Pricing: Pair several products together and selling them for less money than each
would be individually.
Market Penetration: Setting prices low until after a reliable customer base is established, then
raising prices.
Price Skimming: Setting high prices when a product is introduced and then gradually
lowering the price.
Premium Pricing: High quality products marketed to high-income individuals.
Which of the following is an example of Primary Data? correct answers Information
collected from a poll of your company Facebook followers.
A law was passed increasing the minimum wage by 30%. The owner of a small landscaping
business must now pay all of her laborers 30% higher wages.
, What is the minimum amount the owner must now charge customers for labor to balance her
increased operational expenses?
Note: Disregard associated increases in taxes, such as FICA. correct answers 30%
You are examining the year-end balance sheet for your business.
According to the information in the Balance Sheet, what is your equity in the business?
BALANCE SHEET FOR YEAR ENDING DEC. 31:
ASSETS:
Cash: $10,000
Inventory: $2,000
Equipment: $5,000
TOTAL ASSETS: $17,000
LIABILITIES:
Credit card balance: $2,500
Long-Term debt: $0
Unearned revenues: $3,500
TOTAL LIABILITIES: $6,000 correct answers $11,000
You operate a small insurance office with a partner.
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