Starting a Business from Scratch Can

question 8

Multiple Choice

Starting a business from scratch can

• A)reduce the usual risks inherent in a new business
• B)is a proven model for surviving the first few years of operation
• C)result in the least amount of start up costs
• D)requires a significant personal investment of money from the entrepreneur

---

Definitions:

Modified Rebuy Situation

A modified rebuy situation occurs in business purchasing when the buyer has previous experience with the vendor but is considering some changes regarding product specifications, suppliers, or price.

Fabric Blends

Textiles made from a mix of different types of fibers to combine favorable qualities of each, enhancing performance, appearance, or durability.

Product Specifications

Detailed information and criteria about a product's features, dimensions, performance, and materials, serving as a guideline for production and quality assurance.

Derived Demand

A demand for a commodity, service, etc., that is a consequence of the demand for something else.