A Small Firm That Is Profitable but Provides Only a Very

question 75

Multiple Choice

A small firm that is profitable but provides only a very modest return to the entrepreneur is

• A) an attractive small company.
• B) a high-potential venture.
• C) a franchise.
• D) a microbusiness.

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Definitions:

Customer Requirements

Explicit and implicit needs or expectations that customers have concerning a product, service, or experience.

Specifications

Detailed descriptions of the design, materials, and performance requirements for products or services.

Reliability

The quality of being dependable or reliable; in products, it refers to the likelihood of them performing consistently over their expected lifecycle.

Mathematical Probability

The quantitative measurement of the likelihood of a certain event occurring, based on mathematical calculations.