Major factors in a firm's success include

providing a product or service that meets customer needs

In Canadian history, entrepreneurs have

been an important part of the Canadian Economy

studbud

EN - CH1 Terms BDI3c

16 termsStudBud Administration559 plays

Entrepreneurship

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
In Canada today, small companies
can be more imaginative than large companies
contribute billions of dollars every year to Canada
all of these
have innovating ideas that lead to technological change
2
Entrepreneurs try to
identify the needs of the marketplace
all of these
meet the needs of the marketplace
make a profit
3
amount of goods or services that producers are willing to provide
Equilibrium
Supply
Demand
4
A Person who works for someone else is
an employee
taking the risk of the business venture
an entrepreneur
the one who receives the profits of the business
5
Market structure where there are few competing firms
scarcity
monopoly
oligopoly
6
Entrepreneurs always make the right decisions
True
False
7
Major factors in a firm's success include
providing a product or service that meets customer needs
having adequate capital
8
A basic requirement for survival.
want
Entreprenuer
need
Scarcity
9
About how many new businesses do not survive beyond five years?
about 10%
36%
20%
almost 90 %
10
In Canadian history, entrepreneurs have
invented machines the decrease productivity
been an important part of the Canadian Economy
changed Canadian business b developing unneeded products
helped Canadian Economy remain unchanged
11
Situations in which change in price creates change in demand
Elastic demand
Inelastic demand
12
Something that you do not have to have for survival, but would like to have
Need
Want
13
A Person who takes the risks of a business venture is
not directly affected by his or her decisions
sure to be sucessful
an entrepreneur
an employee
14
Which of the following is a retail business?
Grocery store
Farm
Auto repair shop
Gold Mine
15
Situations in which a change in price has little or no effect on the demand for products
Scarcity
Inelastic demand
Elastic demand
Venture
16
Other than Money, what do Entrepreneurs risk losing?
Opportunites
all of the above
Friends
Time

EN - CH1 Terms BDI3c Flashcards | StudBud

EN - CH1 Terms BDI3c

16 termsStudBud Administration559 plays

Entrepreneurship

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
In Canada today, small companies
can be more imaginative than large companies
contribute billions of dollars every year to Canada
all of these
have innovating ideas that lead to technological change
2
Entrepreneurs try to
identify the needs of the marketplace
all of these
meet the needs of the marketplace
make a profit
3
amount of goods or services that producers are willing to provide
Equilibrium
Supply
Demand
4
A Person who works for someone else is
an employee
taking the risk of the business venture
an entrepreneur
the one who receives the profits of the business
5
Market structure where there are few competing firms
scarcity
monopoly
oligopoly
6
Entrepreneurs always make the right decisions
True
False
7
Major factors in a firm's success include
providing a product or service that meets customer needs
having adequate capital
8
A basic requirement for survival.
want
Entreprenuer
need
Scarcity
9
About how many new businesses do not survive beyond five years?
about 10%
36%
20%
almost 90 %
10
In Canadian history, entrepreneurs have
invented machines the decrease productivity
been an important part of the Canadian Economy
changed Canadian business b developing unneeded products
helped Canadian Economy remain unchanged
11
Situations in which change in price creates change in demand
Elastic demand
Inelastic demand
12
Something that you do not have to have for survival, but would like to have
Need
Want
13
A Person who takes the risks of a business venture is
not directly affected by his or her decisions
sure to be sucessful
an entrepreneur
an employee
14
Which of the following is a retail business?
Grocery store
Farm
Auto repair shop
Gold Mine
15
Situations in which a change in price has little or no effect on the demand for products
Scarcity
Inelastic demand
Elastic demand
Venture
16
Other than Money, what do Entrepreneurs risk losing?
Opportunites
all of the above
Friends
Time