Chapter 5 Review - Intro to Business

money left over after a business has paid all costs of doing business

All dot-coms operate only on the Internet.

More than 50 percent of the workforce in the US is employed by _________.

You should be able to prepare a good business plan in about an hour.

Which of the following is not a reason small businesses fail?

Part of the business plan that describes your likely customers and details your competition.

The Internet is a good arena for entrepreneurs to sell products and services.

The money left over after a business has paid all costs of producing its goods or services.

A checklist is a good way to organize your thinking when you begin planning your own business.

people who take chances

Most businesses in the United States are small businesses.

What is someone like Jeff Bezos, who started Amazon.com, called?

This is a one- to three- page overview of the business plan.

a business started by someone who accepts the risks of starting and running a business

BP part - includes the company's financial needs and projections for revenues, costs & profits.

Part of the business plan that points out the type of business structure your company will have

A person who assumes the risks of a business enterprise

The second part of the business plan, the ____ explains the type of company you want to start

according to this agency, small business owners are usually the managers

Which part of a business is the owner responsible for?

a business that employees less than 500 people

A written description of a new business venture that describes all aspects of the business plan

a business that operates on the Internet

Which of the following is a disadvantage of being an entrepreneur?

reason an entrepreneur may fail

expertise needed for the success of a small business

Part of the BP that details who will run the company as well as their expertise and experience.

Part of the BP that describes the kinds of products you will sell or services you will provide.

helps you focus on what you want to do, how you'll do it & what you expect to accomplish in bus