Sports and Entertainment Means Business

Front

An economic impact is the effect produced by decisions made by consumers and businesses.

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true

Front

When a business does not make enough revenue to cover expenses, it operates at a profit.

Back

false

Front

The study of how goods and services are produced, distributed, and consumed is called marketing.

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false

Front

Building a company without outside assistance is often referred to as crowdsourcing.

Back

false

Front

Venture capital is financing provided to start a company in return for owning part of the company.

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true

Front

Risk cannot be controlled and must always be covered by purchasing insurance. True or False?

Back

False

Front

Because people have limited time and money to spend on entertainment, they must make decisions about how to spend their limited resources.

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true

Front

When the physical characteristics of a product or service are improved, it is called possession utility.

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false

Front

Risks can be classified as controllable, insurable, and involving gain or loss. True or False?

Back

True

Front

Risk retention means purchasing insurance to cover possible losses.

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false