Test 2

Question 1

Who is an often forgotten, but important stakeholder?

Answer 1

Customer

Question 2

What are the 4 “P’s” of marketing?

Answer 2

Product
Price
Place
Promotion

Question 3

What are two catchphrases of environmental management?

Answer 3

“Reduce, reuse, recycle”

“Think green, act green, live green, but green - Every Choice Counts”

Question 4

What are the three categories of a triple bottom line?

Answer 4

Financial performance
Environmental sustainability
Social responsibility

Question 5

List 3 steps of product pricing.

Answer 5

Determine fixed costs
Determine variable costs
Determine Price

Question 6

What is the break-even formula?

Answer 6

Fixed cost / (selling price - variable costs per unit)

Question 7

What is capital?

Answer 7

Money, machinery, tools, equipment, and buildings businesses need for operation.

Question 8

What are SMART goals

Answer 8

Specific
Measurable
Attainable
Relevant
Timely

Question 9

What is ROI? How is it calculated?

Answer 9

Return on investment

((Final Value - Initial Value) / Initial Value) X 100