Chapter 2-Idea Generation

A business model is a plan for making a profit in order to operate?

Performance of a particular task in exchange for money

The business model where a company provides goods or services for free but later charges a fee for extra features?

Implementation is the term used for all activities in the creation of products

A tangible item that is produced and sold to consumers

Operational Activities make up the majority of daily activities that contribute to net worth of a company?

The things that a business owns are known as assets?

Financial Functions are any daily activities that involve money?

The Marketing Function ensures that business is meeting customer demands and able to compete?

Profit is a financial gain calculated by the difference between amount earned and amount spent by a business?

A small business is based on either the # of employees over past ____ OR average annual sales receipt over ____ ?

An organized way in which a state or nation distributes its resources and provides goods and services to the community.

Involves the input and output of money in a business?

SBA stands for ...

Science of how decisions are made about satisfying unlimited wants with limited resources is known as economics?

The # of attributes or concepts that differentiate entrepreneurs?

Which of the follow is a role of entrepreneurship in society?

Organizational Design is the way a company’s mission relates to its structure?

The entrepreneurial attribute that allows entrepreneurs to continue on through failures & obstacles?

The four forms of operational activities are known as?

The things that a business owes are liabilities?

Updating premises or materials is also an example of an investment activity?

The total value of a business

The daily choices about the direction of business activities are part of the Marketing Function?

Companies created to benefit a public interest?

An organization that generates income for its owners?

The business model where the owner of the company grants another business owner the right to use their business name?

Market Research is research into consumer preferences to see if there is a demand and what consumers will pay?

Anything that can be bought or sold is a good?

Which of the following is NOT 1 of the 3 types of business activities

Making an investment means using money to create wealth over time?

Refers to the amount of goods that a customer wants?

The type of business model where sales are basically made through social media or online straight to the consumer?

The four forms of business activities include all but which of the following?

A precise course of action for how a company will secure customers and generate income.

The difference between a for-profit and not-for-profit is the way the organization handles its expenses?

Part of the entrepreneurial discovery process is assessing global trends?

A venture is starting a business that involves risk?

Which of the following is NOT an example of an investment tool?

The amount of goods that are available to consumers?

The business model that provides lengthy access to goods & services for an annual, monthly, or weekly fee

The aspects of making, selling, and providing products in exchange for money