wholesalers and sells them do consumers Baubles and Bangles is a an independent jewelry store acquires jewetry and accessories from producers and a. retailer. b. manufacturer. e wholesaler. 14. social entrepreneurships d. direct sales company. 31) Menami and Michael recently had their first child As two working parents they struggled to find good. childcare. As a result they developed their own software to link parents with licensed, reasonably priced childcare providers This is an example of the a. sharing economy. b. market segment economy. c. service economy, d. retail economy. 32) A small business wanting to minimize its operating costs might do all of the following EXCEPT a. hire and maintain a large finance department. b. hire separate firms to supply services as needed. c. rely on friends and family to help with difficult projects. d. maintain a smaller staff to save money on wages and salaries. 33) Mark owns his own small bakery. In addition to being the owner, he also serves as the manager, sales force, head baker, shipping and receiving clerk, bookkeeper, and custodian. Mark is the first person to arrive at the bakery every morning and the last to leave every night. What is the most applicable challenge Mark faces? a. a high stress levels b. lack of funding c. pricing mistakes d. underestimating the time commitment for success 34) Elana recently opened a fashion boutique. She is successful in creating a strong brand image and a loyal customer base. In order to meet the increasing demands of her business, she hires a store manager However. she finds it hard to let the manager make important decisions about the store. She often finds herself disagreeing with the manager's decisions, and in the process ,she loses several existing customers. Which cause of small-business failure does this scenario best illustrate? a. inability to cope with growth b. undercapitalization c. diseconomies of scale d. debt financing 35) Entrepreneurship is the process of creating and managing a business to achieve desired objectives. a.True b. False 36) A drawback of franchising is the need for franchisees to strictly adhere to standardized operations. a. True b. False 37) Top-level managers make an organization's strategic decisions that focus on a key idea for using resources in order to take advantage of opportunities. a. True b. False 38) Manufacturing businesses are attractive to entrepreneurs because of the low start-up costs required to establish a manufacturing business. a. True b. False 39) For any company.owners and shareholders are the only sources of primary funding. a. True b. False 40) The first step in the decision-making process is developing options directly a. True b. False coon uou