Chapters 5&6

A virtual business is a business that

Before you start a business, you need to do market research to see if there is a demand

One disadvantage of corporations is

Partners share

Consumers usually deal directly

A general idea

All of the following are recommended traits for a career in entrepreneurship except being

One of the biggest obstacles in starting a business is

What is a brief account of the key points contained in a business plan?

The process of planning, pricing, promoting, selling and distributing ideas, and services is

Four out of five business fail within how many years?

What is a written description of a business venture that describes all aspects of the business

A small business serves a limited geographic area and employs no more than 100 people

A virtual business acts like a business, but is not a real business

Cooperatives were formed to

Retailers get their goods from

Companies benefit when all functional areas

SBA is an acronym that stands for the

What is an independently owned business?

Unlimited liability means

What is the most common type of businesses in the US?

An advantage of a partnership is

A business that operates on the internet

How many people own a partnership?

Knowing about business only benefits you as an employee, not as a consumer