What does S.M.A.R.T goals stand for?

Specific, Measurable, Achievable, Relevant, Time-bound

What is an angel investor?

An individual who provides financial support to startup companies.

What is a S.W.O.T Analysis?

Evaluates a company’s strengths, weaknesses, opportunities, and threat

What is a career plan?

A detailed strategy outlining an individual's career goals.

What is a business model?

Model/plan for making a profit—in order to operate.

The problem of trying to meet infinite wants with limited resources.

What is an interest rate?

A percentage of a loan that is charged to the borrower incrementally.

What is an entrepreneur?

person who organizes, operates, and assumes the risk for a business venture

What does S.W.O.T stand for

Strengths, Weaknesses, Opportunities, Threats

What is the law of demand?

Higher the price of a product, less demand there will be for that product

What are characteristic of a successful entrepreneur?

Basic Skills, Problem-Solving Skills, Leadership Skills, Communication Skills

Someone employed by another for wages or salary, typically below executive

What is a intrapreneur?

Corporate executive who develops new enterprises within a corporation.

General increase in prices and fall in the purchasing value of money.

What is the law of supply?

The higher a products price, the higher the supply will be for that product

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Essentials of Entrepreneurship

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Questions 30

Answers

1
What does S.M.A.R.T goals stand for?
Structured, Measurable, Aspirational, Relevant, Time-sensitive
Specific, Measurable, Achievable, Relevant, Time-bound
Strategic, Measurable, Achievable, Relevant, Time-bound
Simple, Meaningful, Achievable, Realistic, Timely
2
What is an advantage to starting your own business?
Control
Start-up costs
Labor intensive
Human resources (hiring)
3
Percentage of people without jobs and wages is called the________?
Interest Rate
Unemployment rate
Inflation Rate
Employment rate
4
Which one is NOT an example of For-Profit Organization
McDonald
Amazon
Make-A-Wish Foundation
Walmart
5
Exports are goods that are produced and shipped from one country into another country.
False
True
6
What is an angel investor?
An individual who provides financial support to startup companies.
A type of celestial being with wings and a halo.
A professional athlete who invests in new sports ventures.
A term used in finance to describe a high-risk investment strategy.
7
Good Job heres a freebie
4
2
3
1
8
What is a S.W.O.T Analysis?
A method for evaluating the performance of employees in a team
A form of statistical analysis used in financial forecasting
A detailed examination of an individual's personal strengths and weaknesses
Evaluates a company’s strengths, weaknesses, opportunities, and threat
9
What does LLC stand for?
Limited Liability Corporation
Limited Liability Conglomerate
Limited Liability Company
Limited Liability Cooperative
10
Perfect competition is a theoretical market structure where many businesses sell identical products?
False
True
11
Which one IS an example of For-profit?
Teach for America
The Humane Society
Instagram
AmericanRed Cross
12
What is a career plan?
A detailed strategy outlining an individual's career goals.
A type of financial investment focused on long-term employment stability
A government document specifying rules and regulations for a profession.
A map that outlines the physical layout of a workplace.
13
Oligopoly is a market structure where a small number of businesses have control of a market?
False
True
14
A sole proprietor can have more than one owner?
False
True
15
What is a business model?
The structure of a corporation, including its hierarchy and departments.
A detailed map of the physical layout of a company.
Marketing strategy focused on attracting new customers through social media
Model/plan for making a profit—in order to operate.
16
What is scarcity?
Having too many resources and not enough demand.
Equilibrium in resource distribution ensuring everyone's needs are met.
Abundance of resources leading to excess supply.
The problem of trying to meet infinite wants with limited resources.
17
What is an interest rate?
The amount of money a person or business owes to creditors.
The price of goods and services in the market.
A tax imposed on financial transactions.
A percentage of a loan that is charged to the borrower incrementally.
18
What is an entrepreneur?
A person who works for a company and manages its finances.
person who organizes, operates, and assumes the risk for a business venture
A government official responsible for regulating small businesses.
A type of computer software used for project management.
19
Exports are goods and services made in a foreign country and shipped into another country.
True
False
20
What does MVP stand for?
Minimum Viable Product
Master Venture Plan
Most Valuable Player
Maximum Value Proposition
21
A group of individuals who provide a company with non-binding advice on strategic matters.
Shareholders
Board of Directors
Board of Advisors
Steering Committee
22
What does S.W.O.T stand for
Strategic, Widespread, Organizational, Tactics
Specific, Weaknesses, Opportunities, Threats
Software, Workflow, Operations, Technology
Strengths, Weaknesses, Opportunities, Threats
23
Walmart is an example of?
Non-Profit Organization
Wholesaler
A government-owned enterprise.
Franchise
24
Monopoly is a market structure where a single business has exclusive control of a market?
True
False
25
What is the law of demand?
Higher the price of a product, less demand there will be for that product
The price of a good or service is directly proportional to its demand
The demand for a product is constant and does not change with variations
A legal framework governing consumer rights and protection
26
What are characteristic of a successful entrepreneur?
Basic Skills
Problem-Solving Skills
Leadership Skills
Communication Skills
27
What is an employee?
A type of legal document outlining the structure of a corporation.
A person who owns and manages a business.
Someone employed by another for wages or salary, typically below executive
An individual who provides financial support to startup companies.
28
What is a intrapreneur?
A financial consultant specializing in international business transactions.
Corporate executive who develops new enterprises within a corporation.
A legal document specifying the terms of employment for a company.
A type of computer virus that infiltrates corporate networks.
29
What is inflation?
The process of reducing the money supply in an economy.
General increase in prices and fall in the purchasing value of money.
The gradual decrease in the general price level of goods and services.
A sudden increase in the value of a country's currency
30
What is the law of supply?
Legal framework governing the production and distribution of goods
Supply of product is constant and does not change with variations in demand
The price of a good or service is inversely proportional to its demand.
The higher a products price, the higher the supply will be for that product

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