CM: Economics

The ownership, organization, and management of a business is referred to as a/an:

• certification.

• entrepreneurship.

• licensure.

• incorporation.

A primary source of information for would-be entrepreneurs is the:

• Small Business Administration.

• Employment Security Commission.

• Internal Revenue Service.

• Cooperative Education Administration.

Which is a disadvantage of entrepreneurship?

• Working flexible schedule

• Performing a variety of tasks

• Working for oneself

• Varying income

A key quality of success for an entrepreneur is

• letting someone else manage the project.

• using only personal resources.

• not taking risks.

• being innovative.

One advantage of a sole proprietorship is:

• the owner makes all decisions.

• there is little financial risk to the owner.

• start-up costs are lower.

• goodwill is already established in the community.

Any money or equipment invested in running a business is referred to as:

• franchise.

• profit.

• capital.

• risk.

What is a characteristic of an entrepreneur?

• Mostly retired

• Has the personality to be self-employed

• Follows the leadership of others

• Avoids risks

Which is a declining occupation?

• Child care workers

• Truck drivers

• Retail sales people

• Farmers

Which is true of the current workplace?

• Less competition for jobs

• Fewer female workers

• Increased use of technology

• Simpler lower-level jobs

Terrorism has increased job opportunities in the:

• manufacturing field

• agricultural field.

• public service field.

• retail field.