Entrepreneurship First Semester Exam

The difference between the revenues taken in by a business and the cost of operating the business.

People who own, operate, and take the risk of a business ventures.

The private ownership of resources by individuals rather than by the government.

The ability to learn a particular kind of job.

A financial statement based on projected revenues and expenses.

Things that people must have for their safety, security and health.

People who work for someone else. 

A written document that describes all the steps necessary for opening and operating a successful business.

1.     Organizations made up of professionals in specific industries.

Identifying and examining the characteristics of a competing firm.

Special meetings where companies of the same or related industries display their products.

An individual’s need or desire for a product or service at a given price.

The price at which supply equals demand.

How much of a good or service a producer is willing to produce at different prices.

Things that make a person’s life more enjoyable, but they do not need it to live.

A letter that introduces and explains an accompanying document or set of documents.