Entrepreneurship Fall Final

In the main body of the business plan, which section contains info on ownership structure?

The first step in primary market research is to define exactly what you are trying to find out

Define Market Segmentation

Define Wholesalers

Lenders and investors require a business plan before they will consider financing a business.

What is the most common market research tool?

Examples of Physiological needs

A target market is

The executive summary should be written before you write the business plan.

What does the Appendix in a business plan contain?

Define "Monopoly"

Define equilibrium price

American recovery and reinvestment act

Business use many strategies to maintain customer loyalty, including

You should never reveal any financial information in a business plan, in case the plan falls into the wrong hands.

Earning a college degree is what stage of Maslow's?

Last step in Problem-Solving Model

Difference between want and need

Define Perfect Competition?

As price of a product decreases, demand...

What is an example of a capital resource?

Define Business Ethics...

advantage of being an entrepreneur?

People go into business for themselves:

example of fixed cost

Competition benefits consumers because

Frequent-buyer programs have fallen out of favor in recent years

Define inelastic demand...

Which of the following is a good resource when preparing your business plan?

Define entrepreneur

Target market for downtown coffee shop

The more often you use the problem-solving model, the better skilled at decision making you will become.

Psychographics data include peoples

Which of the following is a resource for information on a business plan?

what should you do during a brainstorming session

A business plan 's title page includes all of the following except 

primary reason business exists in a market economy is to provide products or services to consumers and to earn a profit

Examples of needs are: 

Only advanced economies have resources necessary to satisfy all wants of all people for all material goods & services.

private ownership of resources

In a CRM system, any type of interaction a customer has with a company is called a

Psychographic is data that help businesses determine how often potential customers use a particular product or service.

Which business function would be concerned with determining the amount of capital needed for the business?

An existing business must include __ (in its business plan)

Data on all of the following can be found in secondary data resources EXCEPT

Define: Customer Profile

Define: Ideas

Which is included in the introductory elements of a business plan

A business plan can serve as a tool for managing your business.

Needs and wants never end.

define market economy

Which of the following is not a main purpose of a business plan?

A business plan makes you think about all aspects of your business.

Almost all entrepreneurs are middle-aged people with prior business experience.

Define Retailing

Which of the following is NOT a common mistake entrepreneurs make in their business plans?

What are some good team member characteri

Small business represents...

The four interdependent functions of business are production, finance, marketing and _________.

Indirect competitors