Entrepreneurship Final Review

Front

What's a marketing plan?

Back

a set of procedures or strategies for attracting the target customer to a business.

Front

Which of the following is a way that entrepreneurship helps our society: Creates new jobs, Eliminates financial concerns, Reduces taxes, Decreases economic growth

Back

Creates new jobs

Front

What are financial statements?

Back

Financial statements are a collection of reports used to make business decisions.

Front

The executive summary is the shortest and least important part of the marketing plan. True or False?

Back

False

Front

A/An_____________is an individual who undertakes the creation, organization, and ownership of a business.

Back

entrepreneur

Front

A/An___________ is a new business undertaking that involves risk.

Back

venture

Front

__________is the study of how people choose to allocate scarce resources to fulfill their unlimited wants.

Back

Economics

Front

___________is money left after all expenses of running a business have been deducted from the income.

Back

Profit

Front

A__________is a basic requirement for survival.

Back

need

Front

________ occurs when demand exceeds supply.

Back

Scarcity