Entrepreneurship Final Review

If I lived in a major city, what type of advertisement option would show up on a bus or subway?

The registers at Walmart would be considered what type of resource?

A ___________________ will help you identify and examine the characteristics of your competing firm.

This type of market structure consists of a very large # of businesses producing identical products and has many buyers.

The 4 P's of marketing includes population

A creative problem-solving technique that involves generating a large number of fresh ideas

These all are a part of Maslow's Hierarchy of Needs except for:

All are mistakes individuals make when creating business plans except for:

Economics is all about making choices and satisfying the wants and needs of consumers.

People who own, operate, and take the risk of a business venture are called __________________.

This law made it illegal to charge different prices to different customers

An example of a fixed cost for a business would be buying a machine to help make your product.

The United State is a Pure Free Market economy

Which of the following is NOT a marketing strategy?

A code of ethics adopted by a company will most likely include all of the following EXCEPT:

A direct competitor to Wal-Mart would be Target

In the early 20th century, business were mainly concerned with social involvement in regards to social responsibility

Thoughts or concepts that come from creative thinking are ___________

When starting up a business, it is not important to look at who your competitors are

Entrepreneurs must realize there are other stakeholders who can help make their business successful.

Social responsibility is best characterized by __________.

An example of a variable cost for a business would be rent.

This type of economic system is characterized by the government having complete control of resources of an economy.

Entrepreneurs play an important part in supplying goods and services to meet the demands of consumers.

Needs and wants are limited.

Secondary data is more useful to company performing market research than primary data.

These are all types of resources EXCEPT: