Reference no: EM132258470

1. Which of the following attributes are factors in the product postioning?

price

age

MTBF (mean time between failure)

size

performance

2. Marketing's sales forecast affects (select all that apply):

product scheduling

proforma reports

finance decisions

stock-outs and excess inventory

none of the above

3. When writing a business plan, an entrepreneur should consider the?

A) preferences of employees.

B) complexity of the environment.

C) whether or not the venture has real potential.

D) business plans of competitors.

4. Hayward agreed to buy a thirty-foot yacht from Postma, a yacht dealer. The boat was to be delivered to a slip on Lake Macatawa two months later. Hayward signed a security agreement and gave a promissory note for $13,095 to Postma. Clauses in the agreement required the buyer to keep the boat in "first-class" order or repair and to keep the boat fully insured at all times. After Hayward had made several payments on the note, but before the boat was delivered to him, it was destroyed by fire. Neither Postma nor Hayward had insured the yacht, and Hayward asked Postma to reimburse him for the payments he had made. Postma refused, and Hayward sued to recover his costs. The court most likely held that Hayward was

a. entitled to recover from Postma, a merchant, because he made payments on the yacht in good faith.

b. entitled to recover from Postma, because the requirement that the buyer carry insurance did not, alone, shift the risk of loss.

c. not entitled to recover from Postma, because the contract required Hayward to carry insurance.

d. not entitled to recover from Postma, because Postma was a merchant.