Financing a Business Online Through the Collective Involvement of Others

question 67

Multiple Choice

Financing a business online through the collective involvement of others who provide donations,loans,or investments is referred to as _____.

• A) crowdfunding
• B) bootstrapping
• C) microfinancing
• D) crowdsourcing

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Definitions:

Low Cost Strategy

A business approach aimed at offering products or services at the lowest possible price point to gain competitive advantage and attract price-sensitive customers.

Flexibility

The ability of a system, organization, or individual to adapt effectively to changes, challenges, or varied demands.

Movable Equipment

Equipment that can be easily transported or moved, often used in various industries for operational flexibility.

Sophisticated Electronic

Advanced electronic systems or devices that have complex functions and capabilities.