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