Payday Pregame Advantage

Question 1

What defines an entrepreneur?

Accepted Answer

Starts a business

Question 2

What is a balance sheet?

Accepted Answer

Assets and liabilities

Question 3

Why is writing checks still important?

Accepted Answer

Backup payment, Digital alternative

Question 4

What comes after identifying choices?

Accepted Answer

Pros and Cons

Question 5

What does revenue represent?

Accepted Answer

Company's income

Question 6

What is equilibrium?

Accepted Answer

Price equals supply and demand

Question 7

What is a grace period?

Accepted Answer

Grace period, Interest free days

Question 8

How long is a typical grace period?

Accepted Answer

21-25 days

Question 9

Should you avoid credit cards?

Accepted Answer

Use responsibly to build your credit

Question 10

Which is the first step in decision making?

Accepted Answer

Define problem or goal

Question 11

Why stop manufacturing products?

Accepted Answer

Decreased demand

Question 12

Is advertising part of promotion?

Accepted Answer

True

Question 13

Select the 4 four functions of management.

Accepted Answer

Planning, Organizing, Leading, Controlling

Question 14

What is profit in business?

Accepted Answer

Revenue minus costs

Question 15

Which skill helps entrepreneurs adapt?

Accepted Answer

Flexibility

Question 16

What two options represent the basic economic problem?

Accepted Answer

Unlimited wants, Limited resources

Question 17

What is a unit price?

Accepted Answer

Cost per item

Question 18

What do businesses sell?

Accepted Answer

Goods, Services

Question 19

Which are types of savings accounts?

Accepted Answer

Certificate of deposit, Money market, Regular savings

Question 20

Which agency enforces fair trade?

Accepted Answer

Federal Trade Commission

Question 21

How does gross differ from net revenue?

Accepted Answer

Gross is before expenses, Net is after expenses

Question 22

Select the 4 P's of marketing

Accepted Answer

Price, Product, Place, Promotion

Question 23

Select three types of businesses.

Accepted Answer

Sole proprietorship, Partnership, Corporation

Question 24

Select skills of an entrepreneur.

Accepted Answer

Creativity, Patience

Question 25

Which is a business resource type?

Accepted Answer

Capital resources, Human resources, Natural resources

Question 26

Which is a consumer protection agency?

Accepted Answer

Federal Trade Commission, Food and Drug Administration

Question 27

Which is a key entrepreneurial skill?

Accepted Answer

Problem-solving

Question 28

What is a credit limit?

Accepted Answer

Max borrowing amount

Question 29

What are two types of interest?

Accepted Answer

Simple interest, Compound interest

Question 30

How do you evaluate a decision?

Accepted Answer

Assess if it was good

Question 31

Why are management functions important?

Accepted Answer

Ensure goals met, Improve efficiency

Question 32

What is the final step in decision making process?

Accepted Answer

Evaluate the decision

Question 33

What is compound interest?

Accepted Answer

You make interest based on the new balance as it increases with added

Question 34

Which card accesses checking accounts?

Accepted Answer

Debit card

Payday Pregame Advantage

Questions 34

Payday Pregame Advantage

Questions 34