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Intro To Business Ch.6 Flashcards | StudBud
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Intro To Business Ch.6
Intro To Business Ch.6
13 terms
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#Entrepreneurship #And #Small #Business #Management
Flashcards
13 cards
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Questions
13
Answers
1
The amount of money needed to open a business is a(n)..
Short term finance
Start up finance
Beginning finance
Long term finance
2
A competitive advantage that a small business has over a larger business is..
Lower priced items
More customer research
Attention to unique customer needs
High quality items
3
What is an example of reason for small business failure?
Not enough employees do the work
Poor math skill
Poor cooking skill
Poor location for the business
4
A government agency that helps small businesses owners develop business plans is called
SBB
SBH
SBA
SBD
5
A small business is an independent business with fewer than how many employees?
100
50
500
200
6
Money needed for important resources of a business that will last for many years is called
Credit
short term financing
Loans
long term financing
7
What is a business plan?
A written description of how a business will be carried out
A written contract of how a business will be carried out
A verbal presentation of how a business will be carried out
A pie chart showing percentages of merchandise and costs
8
What do entrepreneurs take to start a new business ?
Money
Ideas
Risks
Bank Loans
9
Money provided by large investors to finance products & businesses that can be very profitable
Bank loans
Innovations
Venture Capital
Entrepreneurship
10
A creation or invention that is brand new is a(n)...
Innovation
Improvisation
Improvement
Opportunity
11
Every business begins with a(n)..
Profit
Customer
Idea
Innovation
12
Which is NOT a decision that has to be made when starting a small business?
Team approach
Chosing the right place and right time
Preparation/research
Gather enough Profit
13
A designed change that increases the usefulness of a product, service, or process is called
Improvmment
Venture capital
Investment
Innovation