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Notetaking Skills: Fads vs Trends in Business

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Notetaking Skills: Fads vs Trends in Business

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Questions and Answers

What is the main difference between a fad and a trend in business?

Fads are sudden and short-lived, while trends develop over time. (correct)

Fads become popular gradually, while trends become popular suddenly.

Fads are long-lasting, while trends are short-lived.

Fads lead to more success, while trends are risky.

What was the main characteristic of Pet rocks mentioned in the text?

They were sold at high prices.

They required special feeding routines.

They were naturally found in Mexico.

They were marketed as pets in little boxes. (correct)

How did the creator of Pet rocks market them as pets?

By presenting them in boxes resembling pet carriers. (correct)

By promoting their high value as collectibles.

By emphasizing their Mexican origin.

By highlighting their special care requirements.

Why did the speaker mention Pet rocks in the context of fads and trends?

To provide an example of a short-lived craze or fad. Signup and view all the answers

Which statement best describes the success of Pet rocks as a business venture?

They resulted in rapid financial gain but were short-lived. Signup and view all the answers

Based on the text, why is it risky to try to make money from fads in business?

Fads lose popularity quickly and may not yield sustained profits. Signup and view all the answers

The movement towards green energy mentioned in the text is characterized as a:

'Trend' with sustained growth over time. Signup and view all the answers

'The interest in organic foods' mentioned in the text is likely to be considered a trend because:

'Organic foods' have been gaining more interest over time. Signup and view all the answers

'Green energy' is a better business choice than 'Pet rocks' mainly because green energy:

'Green energy' is less risky than 'Pet rocks.' Signup and view all the answers