What is a Good from Chapter 1.1?

Are tangible products people sell

the amount of a good or service that producers are willing to provide.

This occurs when demand exceeds supply

An Entrepreneur is....

is an individual who undertakes the creation of a business

Money left over after all expense are paid

a new business undertaking that involves risk

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Entrepreneurship and the Economy

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Questions 13

Answers

1
All Entrepreneurs must have a degree from a 4 year college.
False
True
2
What is a Good from Chapter 1.1?
Are tangible products people sell
Are the only things sold on Ebay
Are intangible services people sell
Are all the students in Ms. Giglia class
3
Supply is....
the amount of a good or service that producers are willing to provide.
the amount that is not produced
the demand on the customer
everything people make
4
New small business never fail.
False
True
5
Entrepreneurs help the economy in which way?
They create jobs for people
They make a profit every time they are in business
They create deficits which helps the economy
They pay more taxes than corporations
6
What is NOT a factor of production?
Social Media
Capital
Labor
Land
7
Which of these is NOT a feature of a business plan
Busuiiness description
Operations plan
Executive summary
plan for world domination
8
Who is a person within an existing business that is responsible for leading improvements
Intraprenuer
Entreprenuer
9
What is Scarcity?
When there is no supplies left at all
This occurs when demand exceeds supply
This occurs when supply exceeds demand
When people get scared
10
An Entrepreneur is....
is an individual who undertakes the creation of a business
is an individual who likes to work for someone else
is an individual who works for the New York Stock Exchange
is an individual who invests in many many businesses
11
What is not a Need out of the choices below?
Shelter
Water
Food
Iphone 11
12
Profit is....
No money left over after all expenses are paid
something all entrepreneurs always make
Another name for expenses
Money left over after all expense are paid
13
A Venture is....
Is money spent on venture capitalists
Money left over after all expenses are paid
a new business undertaking that involves risk
An idea with commercial value

Entrepreneurship and the Economy Flashcards | StudBud