Final Exam Review Entrepreneurship

The target market is a particular group of consumers at which a product or service is aimed

A business person can act responsible in the following ways

An invention is a way to satisfy a

Self-esteem is known as an external motivator

Goals should always follow the SMART principal. What does SMART stand for?

A surplus occurs when:

A(n) _____________ is a debt; a sum of money the entrepreneur owes.

A situation where an employee works a full week but selects daily start and end times?

When the supply of a product is greater than the demand for a product, the price will:

Something of value that a business or person will own.

An individual who develops original products is called:

The information, knowledge, and thinking skills that employees bring to their work

1 or 2 page summary of the most important points of the business plan is the

_______________ is the ease of transferring assets into cash.

Intrapreneurship occurs within an organization or corporation by an enterprising employee

Which of the following is an example of a business venture that is not-for-profit?

Challenges facing young entrepreneurs are:

__________________ are assets that can be offered as security if the loan is not repaid.

A sole proprietor will many time have a partner to help in the business operations

All of the following would shift the demand curve except.

A venture can only succeed when a good idea and a(n) _________________ come together.

Stages of a product’s life cycle may be:

Advantages of marketing research are to provide data about:

SWOT stands for strengths, weaknesses, options, and threats.

The Internet would best be associated with which time period?

A situation where an employee works the same hours but in fewer days?

A business that is principally conducted electronically.

__________________is a change to something that already exists.

Patents protects literary works, musical works, artistic works, and software.

Flex-time and telecommuting are examples of alternative work arrangements.