Entrepreneurship Unit 1

The amount of a good or service that producers are willing to provide is called

The buyer of a franchise who is give the right to its product, process, or service.

Which is not a reward of entrepreneurship?

What is a business that has stopped operating with a loss to creditors?

The price point at which the supply and demand curve meet

Demographics include which of the following?

Which of the following is a factor of production

A key element in a market economy between similar businesses

Competition is the rivalry among businesses for consumer dollars.

A strategic alliance is contracting with other companies for services.

Which of the following is NOT a characteristic of a successful entrepreneur?

Money left over after all the expenses of running a business have been deducted

A business undertaking involving risk

Study of how nations allocate scare resources to the production and distribution of products

Amount of goods or services consumers are willing & able to buy

Investment is the amount of money a person puts into their business as capital.

An idea that has commercial value

A small specialized market is a(n)

Situation in which a change in price creates a change in demand

Which of the following is not a current entrepreneurial trend?