unit one: entrepreneurship

Privately owned businesses operate to make a profit with limited government regulation

• command economy
• market economy
• traditional economy
• mixed economy

System in which citizens have just what is needed to survive.

• mixed economy
• market economy
• command economy 
• traditional economy

A large number of small businesses sell similar products at different prices.

• oligopoly
• monopolistic competition
• market structure
• perfect competition

How a market is organized, based on the number of businesses competing for sales in an industry.

• perfect compitition
• market structure
• monopoly
• monopolistic competition

Record-keeping, business letter-writing, and math skills.

• problem solving skills
• planning skills
• business skills
• personal

completing a(n) ______________ can help you understand your personal preferences and identity strengths and weaknesses.

• self assesment
• personal
• smart goals
• career clusters

A critical issue for most entrepreneurs is the ability to raise start up capital

• true
• false

career pathways are subgroups within the career clusters

• true
• false

the behavioral and emotional characteristics that make each person unique are skills that can be learned

• true 
• false

Which of the following is NOT included in the definition of a small business?

• organized for profit
• not dominant in its field
• national or international business
• independently owned and operated