Intro to Entrepreneurship

The price at which supply equals demand is the equilibrium price.

Income earned by a sole proprietorship is taxed twice: once as a company and as individual .

Demand is probably MOST inelastic for which of the following items?

A portion of a Corporation's profit paid out to shareholders.

Those responsible for hiring and determining salaries of the executives in a corporation.

Employees, customers, and creditors are all stakeholders in an entrepreneur's business.

A business owned exclusively by one person.

Most people who own their own business do so for more than just monetary gain.

Those who own, operate and take the risk of a business venture.

The form of Business ownership where liability is limited only to what you have invested.

A unit of ownership in a corporation.

A business owned and operated by two or more individuals.

Papers that must be filed with the state to establish a corporation.

Generally, as the price of a product decreases, demand will also decrease

Which of the following would be considered a capital resource?

Which of the following is an example of a service business?

How does competition benefit consumers?

A legal agreement that gives an individual the right to market a company's products or services

The main reason an entrepreneur would structure their company as a corporations is

A franchisee