Entrepreneurship and the Economy

Which would NOT be considered a desirable characteristic of a good team member?

The FINAL step in the problem solving model is to

Which is NOT a provision of the American Recovery and Reinvestment Act of 2009?

People go into business for themselves because

Individuals and businesses decide what, how and for whom goods and services are produced in a

The rent a business owner pays for office space is an example of a fixed cost

Small firms with fewer than 500 employees represent about ___ Percent of all business in the US

People who own, operate, and take the risk of a business venture are called

"I will learn more about starting my own business" is an example of a good smart goal

Large businesses create the most jobs in the US

Economies are base on both economic and noneconomic wants

The four interdependent functions of business: production, marketing, finance, and management

How does competition benefit customers?

Economist make no distinction between a want and a need

Demand is probrably MOST inelastic for which of the following items?

Your needs and wants

Opportunity cost - price an entr. pays to go into a business - involves fees and startup cost

Which of the following would be considered a capital resource?

Entrepreneurs invest in communities by contributing to local economy and by providing jobs.

Which of the following is an example of a need?

A mixed economy often result when a county shift from a command economy toward a market economy

The private ownership of resources by individuals rather than the government is called

Ideas are different from opportunities

Employees, customers, and creditors, are all stakeholders in an entrepreneur's business

Earning a college degree would belong in which stage of Maslow's hierarchy of needs?

It is easier for a business to enter a market with perfect competition than an oligopoly

The best way for an entrepreneur to make a decision is to go with her intuition or gut feeling

When a business continually adds extra worker, output is sure to increase as well.

One major avantage of being an entrepreneur is that

______ exists when there is only one provider of a product or service.

Both the actions and result need to be considered whether or not a behavior is ethical

Business function concerned with determining the amount of capital and how it will be obtained?

Entrepreneurial opportunities tend to disappear completely during downturns in the economy.

The more often you use the problem solving model the more skilled at decision making you become

Thoughts or concepts that come from creative thinking are called

Primary reason business exists in a market economy is to provide jobs for members of community

The price at which supply equals demand is the equilibrium price

One way a business can "go green" is to install energy efficient lightbulbs throughout facility

A wholesaling business sells products directly to consumers

Which of the following is an example of a service business?

The FDA is an organization that exists to help small businesses and their owners

Almost all entrepreneurs are middle aged peole with prior business experiences

Entrepreneurship thrives in a command economy

In brainstorming session, it is NOT a good idea to

Food, sleep, water, shelter, and air are all examples of physiological needs.