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Economic System & Business Decision-Making
Economic System & Business Decision-Making
24 terms
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StudBud Administration
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#Entrepreneurship #Unit 1.01-1.03
Flashcards
24 cards
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Practice quiz
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Questions
24
Answers
1
Which one shows how small business are flourishing?
they don't get venture capital funding
Entrepreneur can explore their own des and show creativity
they uses other people ideas
They try to do something that has been done before
2
In which economic system does Supply and demand controls produts?
demand
socialist
capitalist
free market
3
Which positive effect do small businesses have on the local community?
Pay in of taxes
Charging of Interest
Limitations on job growth
Reduction of competition
4
What statement is most likely to have a effect on domestic small-business growth?
Low interest rate
Slow inflation
involuntary tax reduction
restrictive loan policies
5
What is an Economic Systems?
How a country's regulate the government
how the county spends thier money
how a country's economy is organized
6
The government does not get involved in which economic system?
Capitalist
free market
socialist
demand
7
home based businesses usually:
YouTube higher profit margins
Requires less Technical Training
Have lower start-up cost
Provide owners a steady income
8
Supply is the amount of goods or services consumers are willing to purchase at given price.T/F
False
True
9
Start-up information can help answer......
who, what, why, how,when
What to produces ,and how to produce
10
Equilibrium is the point at which buyer and sellers agree on quantity and price. T/F
True
False
11
Which is not an economic Questions?
what should be produce?
how should we produce it ?
when should it be produced?
For whom are we producing ?
12
How has small businesses contribute to the society?
Pay taxes to government
Help with the flow of the economy
Donations
Contribute employment
13
What component is important to include in all types of inquiry letters?
Contact information
Personal qualifications
Project specification
Attention-getting title
14
What are Barriers to small business/ entrepreneurial success
location, money, people, customer, processes, planning
owner,money, people, customer, info-chaos, process, Planning
15
what is any business that is operates by one or few individuals .
franchise
big business
entrepreneurship
small business
16
Which is a financial concern that entrepreneurs often face when starting new businesses?
Lower production standards
Irregular Paychex
Shorter vacations
Long working hours
17
Demand is the amount of goods/ services providers are willing and able to sell at a given price
True
False
18
Innovation and risk are important to which of the following:
Entrepreneurial Ventures
Small businesses
19
In Which economic systems does the government have control?
capitalist
socialist
demand
free market
20
Local governments strongly promote and support small businesses mainly due to which factor?
Businesses serve only the local communities
Businesses are important to the economy
Businesses may become a big businesses
Businesses are owned by one person
21
Which economic system have a lot of taxation and regulation ?
socialist
demand
Capitalist
free market
22
What can Innovation be emphasized on?
Inventions
New organization, products, markets, and production methods
Old organizations, products, markets, and production methods
Old invention
23
which is a government source of business start up information?
small business administration
federal trade commission
department of development
internet revenue service
24
Which statement is true regarding training for entrepreneurial Ventures?
Determination
Innovation
Optimism
Organization
