What is telecommuting?

Using a computer and other technology to work at home

Name one advantage of self-employment.

A feeling of pride of ownership

What is the point of businesses having a budget?

Estimates a company's funds and its plan for spending funds

What is a marketing plan?

Includes info. about customer needs and social factor, Details the marketing activities of an organization

What is a small business?

An independently owned business, not dominating an industry

A business that sells directly to consumers

What are some examples of common home businesses/occupations?

Real estate brokers and insurance agents

What is an entrepreneur?

A risk taker who operates a business

What is a business plan?

A guide used to start and operate a business

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Chapter 9: Entrepreneurial Enterprises

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A quiz on global entrepreneurship and small business management.

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Questions 10

Answers

1
How do you calculate the gross profit on each item you sell?
Cost - Selling Price
Selling Price - Cost
Cost + Selling Price
Selling Price + Cost
2
What is telecommuting?
Used for jobs that do require regular in-person contact
It is used the most with school systems (teachers)
Using technology when working in a company office or factory
Using a computer and other technology to work at home
3
Name one advantage of self-employment.
Time commitment
No independence
A feeling of pride of ownership
Always a certain income
4
What is the point of businesses having a budget?
Estimates a company's funds and its plan for spending funds
To worry business owners of money issues
To allow businesses to buy whatever they want
To cause businesses to fail due to lack of money
5
What is a marketing plan?
Includes info. about customer needs and social factor
Same thing as a business plan
Details the marketing activities of an organization
Does not include info. on marketing mix
6
What is a small business?
A business that dominates an industry
An independently owned business, not dominating an industry
A business that consists of over 1,000 employees
A business that is owned by a corporation
7
What are retailers?
A business that sells directly to consumers
Commonly called intermediaries
A business that does not sell directly to consumers
Change raw materials and parts into usable products
8
What are some examples of common home businesses/occupations?
Childcare providers and lawyers
Real estate brokers and insurance agents
Insurance agents and teachers
Doctors and tax preparers
9
What is an entrepreneur?
A person who does have self-confidence
Someone who lacks creativity
A risk taker who operates a business
A person who does not take risks
10
What is a business plan?
A guide used to start and operate a business
Only includes a section for human resource activities
Does not include any main sections
Only includes a guide for marketing activities

Chapter 9: Entrepreneurial Enterprises Flashcards | StudBud