Competition and Free Enterprise

Question 1

Which choices will help you cut back on expenses so that you can spend more money on promotions or advertising? Check all that apply.Move to a higher-rent building.Use less-expensive ingredients.Look for discounted or used machines.Hire a young employee at minimum wage.Hire a manager to help the business grow.

Revolt · Accepted Answer

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Question 2

Which choices are most likely to help you beat your competition by gaining more customers and selling more frozen yogurt? Check all that apply.Invent a new flavor, combination, or topping.Do less advertising.Place coupons online or in circulars.Sell shirts, hats, or other merchandise bearing the company’s logo.Provide as little nutritional information as possible.Offer a loyalty program that gives customers free frozen yogurt.

Revolt · Accepted Answer

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Question 3

Which government regulations could you avoid if you no longer had employees? Check all that apply.Every business must maintain a business license.Businesses must pay taxes on employee salaries.Businesses must advertise truthfully.Businesses must pay employees a fair wage.Businesses must maintain workplace safety.

Revolt · Accepted Answer

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Question 4

In two to three sentences, explain how you will address each area of competition to help make your business successful against this competitor.

Revolt · Accepted Answer

I will offer reasonably priced yogurt made with fresh, natural ingredients and unique flavors so my product is higher quality and different from the competitor’s artificial-flavor yogurt. I will advertise these health and quality advantages while providing friendly service and customization to attract and retain customers.

Question 5

Which of the following did you include in your notes? Check all that apply.

Revolt · Accepted Answer

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Question 6

Question 6

Revolt · Accepted Answer

The local government influences the choices of frozen yogurt shop owners by implementing regulations that ensure public safety and transparency. For example, both shops must comply with health and safety codes and pass regular health inspections to stay in business. Additionally, the government may require shops to disclose their ingredients through advertising or labeling. These rules help protect consumers while allowing the businesses to compete fairly in a free enterprise system.

Question 7

Question 7

Revolt · Accepted Answer

By not hiring another employee, I will have to follow fewer government laws. Not having an additional employee will help keep my production costs down and allow me to sell my product for less. I will also ensure that all consumers know the ingredients of my yogurt. My strategies for competing with the other frozen-yogurt shop will work because lower prices will attract consumers. By advertising that our ingredients are natural, consumers will return.

Question 8

Sample Response: We must both pass serious health inspections made by the local government and advertise what we use to make our yogurt. Which of the following did you include in your notes? Check all that apply.what regulations exist that might affect youhow you plan to comply with those regulations

Revolt · Accepted Answer

A: what regulations exist that might affect you; B: how you plan to comply with those regulations

Question 9

Sample Response: By not hiring another employee, I will have to follow fewer government laws. Not having an additional employee will help keep my production costs down and allow me to sell my product for less. I will also ensure that all consumers know the ingredients of my yogurt. My strategies for competing with the other frozen-yogurt shop will work because lower prices will attract consumers. By advertising that our ingredients are natural, consumers will return. What did you include in your

Revolt · Accepted Answer

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Competition and Free Enterprise Answers

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