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Intro to Business: Entrepreneurship Flashcards | StudBud
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Intro to Business: Entrepreneurship
Intro to Business: Entrepreneurship
26 terms
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StudBud Administration
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Introduction to #Business and #Technology focusing on #Entrepreneurship
Flashcards
26 cards
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Practice quiz
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Questions
26
Answers
1
Operation Plan includes
Organization of the company
Human resource plans
Description of major operations
Analysis of resources needed
2
Process of developing and implementing a plan to identify and satisfy consumer needs is
Boating School
Marketing Planning
Customer Planning
Management Planning
3
Someone who takes a risk by starting a business
Entrepreneur
Employee
CEO
Manager
4
T/F Most Successful businesses start during a period when customer demand is low
True
False
5
What thing could an entrepreneurs adjust to increase profit?
Price
Firing Employees
Renovations to their home
Amount Supplied
6
To tweak or make better is to
Innovate
Succeed
Improve
Dream
7
Most Businesses in the United States are
Farmers Markets
Corporations
Partnerships
Sole Proprietorships
8
All are the description of the business EXCEPT
The business idea
Ownership structure
Strengths/weaknesses
Condition of the CIA
9
Entrepreneurs have all characteristics EXCEPT
Lazy
Persistent
Goal Oriented
Creative
10
How many businesses are created annually?
500,000
100,000
5
1,000,000
11
If a candybar cost $0.20 to make and is sold for $1, How much profit is made.
$0.80
No profit made
$1
$0.20
12
An example of an entrepreneur is
All of the Above
Steve Jobs
Walt Disney
Bill Gates
13
T/F Every business begins with an idea
False
True
14
Which entrepreneur said: "The way to get started is to QUIT TALKING and begin doing"
Steve Wozniak
Walt Disney
Milton S. Hershey
Henry Ford
15
What is Net Profit?
Has nothing to do with money
Amount of money paid for resources
Amount of money collected from selling products
Money paid to employees
16
Risks in becoming an entrepreneur include all the following EXCEPT
Low Sales
Competition Pressure
Advanced Education
Lack of adequate capital
17
All Entrepreneurs have
No Profit Motive
Computers
Problem-Solving Skills
Pet Monkeys
18
Most money entrepreneurs have to begin their company comes from
Aliens
Friends and Families
The President
Stock Market
19
Ownership of small scale unit with one individual is
Partnership
Sole Proprietorship
Management
Dictatorship
20
Money needed for the main resources of a business is
Types of Financing
Short-term Financing
Start-up Financing
Long-term Financing
21
What type of business ownership provides the owner with limited liability?
Partnership
Bob's Burgers
Corporation
Sole Proprietorship
22
Live long and
Prosper
Buy Apples
Kill Bill
Die
23
T/F Small industries are fairly labor intensive
True
False
24
What is a written description of the business idea and how it will be carried out?
Mission Statement
Business Cycle
Kim Kardashians Divorce Papers
Business Plan
25
Small Business account for ___ of all innovative products and services.
2%
100%
55%
11%
26
Ownership of a small scale unit with few individuals is
Internship
Sole Proprietorship
Partnership
Mothership
