Entrepreneurship Unit 1

The price point at which the supply and demand curve meet

Amount of goods or services consumers are willing & able to buy

Competition is the rivalry among businesses for consumer dollars.

Investment is the amount of money a person puts into their business as capital.

Money left over after all the expenses of running a business have been deducted

What is a business that has stopped operating with a loss to creditors?

Which of the following is not a current entrepreneurial trend?

A strategic alliance is contracting with other companies for services.

Demographics include which of the following?

Which is not a reward of entrepreneurship?

Which of the following is a factor of production

A business undertaking involving risk

The amount of a good or service that producers are willing to provide is called

Study of how nations allocate scare resources to the production and distribution of products

An idea that has commercial value

Which of the following is NOT a characteristic of a successful entrepreneur?

Situation in which a change in price creates a change in demand

A key element in a market economy between similar businesses

A small specialized market is a(n)

The buyer of a franchise who is give the right to its product, process, or service.