Chapter 5 Review - Intro to Business

All dot-coms operate only on the Internet.

Which part of a business is the owner responsible for?

money left over after a business has paid all costs of doing business

Which of the following is a disadvantage of being an entrepreneur?

expertise needed for the success of a small business

helps you focus on what you want to do, how you'll do it & what you expect to accomplish in bus

reason an entrepreneur may fail

a business that employees less than 500 people

You should be able to prepare a good business plan in about an hour.

people who take chances

Part of the business plan that describes your likely customers and details your competition.

The Internet is a good arena for entrepreneurs to sell products and services.

Which of the following is not a reason small businesses fail?

a business that operates on the Internet

Part of the BP that details who will run the company as well as their expertise and experience.

A checklist is a good way to organize your thinking when you begin planning your own business.

according to this agency, small business owners are usually the managers

BP part - includes the company's financial needs and projections for revenues, costs & profits.

A person who assumes the risks of a business enterprise

Part of the business plan that points out the type of business structure your company will have

The second part of the business plan, the ____ explains the type of company you want to start

a business started by someone who accepts the risks of starting and running a business

More than 50 percent of the workforce in the US is employed by _________.

This is a one- to three- page overview of the business plan.

What is someone like Jeff Bezos, who started Amazon.com, called?

A written description of a new business venture that describes all aspects of the business plan

The money left over after a business has paid all costs of producing its goods or services.

Part of the BP that describes the kinds of products you will sell or services you will provide.

Most businesses in the United States are small businesses.