An Entrepreneur Wants to Explore Whether a Product with a Blue

question 45

Multiple Choice

An entrepreneur wants to explore whether a product with a blue package sells better than the very same product with a red package. The color of the package is the only thing that is changed and the product is put into test marketing to see if the blue package or red package sells more. This is known as

• A) insanity.
• B) micro approach.
• C) experimentation.
• D) reflection.
• E) intrapreneurship.

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Definitions:

Jointly Liable

A legal term indicating that two or more parties are equally responsible for the fulfillment of a liability or debt.

UPA

stands for Uniform Partnership Act, which is a set of laws adopted by some states in the United States to govern the formation, operation, and dissolution of partnerships.

RUPA

The Revised Uniform Partnership Act, which is a set of laws aiming to govern the operation of partnerships within the United States.

Limited Liability Partnership (LLP)

A partnership in which some or all partners have limited liabilities, protecting them from personal responsibility for the debts of the business.