Test 1 Review Entrepreneurship

What does the letter "A" in a SMART goal stand for?

Which is NOT one of the 3 goals every successful business should have?

When demand for a product goes down, the price goes up.

What are the five P's of entrepreneurship?

An entrepreneur is anyone who starts a new business.

When revenue is higher than expenses, you are left with a(n) __________.

What does the letter "S" in a SMART goal stand for?

Which of these statements are the common reasons are why a business may fail? (Multiple answers

What is an ADVANTAGE to owning your own business?

What types of economic resources do all businesses use? (There may be more than one)

What does the letter "M" in a SMART goal stand for?

Select all expenses a business may have

What is considered something you are born with?

There are four functions of business. Three of them are Mangement, Marketing, and Finance. Pick the remaining one.

What is NOT considered a need?

How many career clusters are there?

A want is something necessary for survival.

What does the letter "R" in a SMART goal stand for?

Everyone can be an entrepreneur.

What does the letter "T" in a SMART goal stand for?