1. The Foreign Corrupt Practices Act, passed in 1977, considers bribing foreign officials to be a criminal act.
True or false
2. Optional product pricing involves selling the base product at:
a. what may be a "standard" margin and selling the options or accessories at a higher markup.
b. a high markup, with the accessories at a competitive price.
c. one price with deep discounts on accessories.
d. a high margin with the accessories offered as part of the bundle.
3. Before engaging in foreign licensing, a business owner should secure patent, trademark, and copyright protection.
True or false
4. When pricing a new product, a small business owner should strive to always satisfy which three objectives?
a. Product acceptance, maintaining market share, and earning a profit
b. Quick acceptance, extensive distribution, and quickly recovering costs
c. Recovering initial development costs, recovering initial promotional costs, and discouraging competition
d. Discouraging competition, recovering development costs, and developing a prestige image