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NFTE Chapter 6 Review Flashcards | StudBud
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NFTE Chapter 6 Review
NFTE Chapter 6 Review
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#Entrepreneurship - Owning Your Future Chapter 6 Review
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Convention where related businesses come to promote their products and services.
Job Fair
Trade Show
Auction
2
Model on which future reproductions of an invention are based.
Proton
Prototype
Sample
3
When you want to buy a business, you should go to a licensed...
Accountant
Business broker
Real estate agent
Banker
4
Legal document where you agree to keep information confidential.
Disclosure Agreement
Nondisclosure Agreement
Closure Agreement
Disagreement
5
The person who is selling the Wendys is the
franchise
business broker
franchisor
franchisee
6
Intangible is material things.
False
True
7
Lateral thinking is creative thinking.
True
False
8
The letter O of SWOT Analysis stands for...
Opportunity
Opportunity Cost
Business Opportunity
Window of Opportunity
9
Thought process that involves analyzing and evaluating a situation or project.
Critical Thinking
Feasibility Thinking
Cost/Benefit Analysis Thinking
Creative Thinking
10
The letter T in SWOT analysis stands for
Time
Tangible
Team
Threat
11
Carefully consider the potential costs and benefits
Window of Opportunity
Cost/Benefit Analysis
Calculated Risk
Critical Thinking
12
Regular, ongoing payment that is a based on a percentage of the sales of a franchise earns.
Franchise Fee
Royalty Fee
Feasibility
Royal Fee
13
A cell phone is a need.
True
False
14
Feasibility is how possible or worthwhile it is to pursue and idea.
False
True
15
Product or service that people desire.
Need
Want
Threat
Opportunity
16
1 or 2 page summary of highlights of an investment opportunity
Cost/Benefit Analysis
Executive Summary
Business Plan
Business Opportunity
17
When you buy a McDonald's franchise you are the franchisor.
False
True
18
Statement of your business goals and the reasons you think these goals can be met is a
Cost/Benefit Analysis
SWOT Analysis
Executive summary
Business Plan
19
The period of time you have to act before the opportunity is lost is
SWOT Analysis
Cost Window
Window of Opportunity
Lost Opportunity
20
Value of what you will give up to get something.
Opportunity Cost
Cost/Benefit Analysis
Cost
Window of Opportunity
