ENT Ch.1 What is ENT? & Ch. 2 Your Potential As an ENT.

The process of recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business is called _______________________.

• entrepreneurship

• entrepreneur

• economics

• opportunity

The point at which consumers buy all of a product that is supplied is called ____________________.

• economics

• opportunity

• equilibrium

• profit

Specially designated areas of a community that provide tax benefits to new businesses is called __________________.

• economics

• venture

• entrepreneurship

• enterprise zones

Money left over after all the expenses of running a business have been deducted from the income is called ____________.

• loss

• profit

• equilibrium

• opportunity

The study of how nations allocate scarce resources to the production and distribution of products is called ___________.

• free enterprise

• economics

• entrepreneurship

• opportunist

An idea that has commercial value is called a(n) ___________.

• economic

• profit

• opportunity

• free enterprise zone

A new business undertaking involving risk is called ____________.

• entrepreneur

• enterprise zone

• equilibrium

• venture

An individual who undertakes the creation, organization, and ownership of a business is called a ____________________.

• entrepreneur

• entrepreneurship

• venture

• free enterprise manager

The chances of a new business succeeding are good with _________.

• effective planning and management.

• tax breaks.

• today’s global economy.

• today’s job market.

A(n) ____________________ is a new business undertaking that involves risks.

• government organization

• mega corporation

• distribution center

• venture