Lease Trader

question 66

Multiple Choice

Lease Trader.com, a website that Sergio Stiberman founded after discovering how expensive it was to end a car lease early is an example of

• A) recognizing a hot trend and riding the wave
• B) combining two businesses into one to create a market opening
• C) beginning with a problem in mind
• D) considering ways to adapt a product or service to meet customer needs in a different way

---

Definitions:

Personnel Expenses

Costs associated with employing personnel, including salaries, benefits, and payroll taxes.

Planning Budget

A budget prepared before the beginning of a financial period as a plan for earning and spending, based on expected activities and conditions.

Selling

The process of promoting and transferring ownership of a product or service to customers in exchange for money or value.

Administrative Expenses

Costs related to the general operation of a business, including salaries of executives, office supplies, and utilities.