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Everfi - Venture Vocabulary Flashcards | StudBud

Explore/Everfi - Venture Vocabulary

What role do entrepreneurs play in economics?

Which is an advantage of starting your own business?

Everfi - Venture Vocabulary

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Entrepreneurship Lessons - check for understanding

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Questions 9

Answers

1
Which is an advantage of starting your own business?
You don't have to think of funding in the beginning.
Your business plan guarantees your success.
You have control over when and where you work.
No risk - you are in charge!
2
What role do entrepreneurs play in economics?
They borrow money from the economy to start their businesses
They tell consumers what they want and need.
Create businesses that meet the wants and needs of consumers
None of these
3
Which of the following is NOT a way to increase the profit of each unit sold?
Change how unit is defined
Increase selling price
Decrease expenses per unit
Decrease monthly fixed expenses
4
Which is NOT true of an entrepreneur?
Has ownership in the business
Responsible for the success of their business
Gets to act as his own boss.
Salary based on ability to complete assigned tasks.
5
A quick description of your business that you use to explain it to customers and investors.
Business Pitch
Commercial
Advertisement
Business Plan
6
The business has sold exactly enough units to cover its fixed expenses.
Profit Margin
Break-Even Point
Profit
Loss
7
A consumer need or want that can be potentially met by a new business.
Focus Group
Competition
Target Market
Business Opportunity
8
What is a market?
A store.
A potential group of customers
An online business.
A shopping mall.
9
Which of the following ensures a good idea for a business is an actual business opportunity?
A passion of the entrepreneur.
Solves a unique need or want
A creative idea noone else thought of.
It will take a lot of time and money to implement it.