Test 1 Review Entrepreneurship

When demand for a product goes down, the price goes up.

What does the letter "T" in a SMART goal stand for?

What types of economic resources do all businesses use? (There may be more than one)

When revenue is higher than expenses, you are left with a(n) __________.

What is an ADVANTAGE to owning your own business?

What are the five P's of entrepreneurship?

What does the letter "R" in a SMART goal stand for?

Which is NOT one of the 3 goals every successful business should have?

Everyone can be an entrepreneur.

There are four functions of business. Three of them are Mangement, Marketing, and Finance. Pick the remaining one.

Select all expenses a business may have

What does the letter "M" in a SMART goal stand for?

An entrepreneur is anyone who starts a new business.

What does the letter "A" in a SMART goal stand for?

Which of these statements are the common reasons are why a business may fail? (Multiple answers

How many career clusters are there?

What does the letter "S" in a SMART goal stand for?

What is NOT considered a need?

What is considered something you are born with?

A want is something necessary for survival.