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Business Unit 1 AoS1 Flashcards | StudBud
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Business Unit 1 AoS1
Business Unit 1 AoS1
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Questions
15
Answers
1
A musician or celebrity can act as a business
True
False
2
Only large and medium businesses have shareholders.
True
False
3
Innovation refers to the process of creating a new or improved good, service or process
False
True
4
An entrepreneur always has to invent new technology.
False
True
5
A vision statement is the same thing as a mission statement.
True
False
6
Market Research is...
how many markets are in a given area
an assessment of the practicality and potential for success of a business
the features of a market in which a new good or service is introduced
researching and collecting data on a specific market
7
Which person is the
current
CEO of Apple Inc.
Steve Jobs
Tim Cook
Bill Gates
Kevin Feige
8
Business do not try to fulfill social needs.
True
False
9
Industry is the classification of a business related to the good or service they produce
False
True
10
An entrepreneur is someone who...
the person in charge
is willing to seize opportunities and is willing to take risks
runs a business on a day to day basis ensuring it makes a profit
the head of a bank
11
One of the two most important questions to ask when starting a business is...
I'll do you one better... why is business
Am I motivated to run a business
where is business
who is business
12
A small business employs lest than _____ people
50
20
200
500
13
S.M.A.R.T. in terms of goal setting, stands for
Stop. Making. Any. Random. Tasks.
Small. Manageable. Attitude. Real. True
Sincere. Many. Accomplishment. Ready. Tenacity.
Specific. Measurable. Attainable. Relevant. Time bound.
14
Revenue is money...
made from selling goods and services
lost from lack of sales
the money in the bank
a business has after their expenses
15
Elon Musk and Bob Iger can
both
be considered entrepreneurs.
True
False
