Entrepreneurship II: Objective 4.02 Vocabulary Quiz

The financial resources that businesses can use to fund their operations like cash, machinery, equipment, and other resources.

• Market Share

• Capital

• Growth Potential

• Competitive Advantage

The rivalry between two or more businesses to attract scarce customer dollars.

• Competition

• Direct Competition

• Indirect Competition

• Competitive Advantage

Any condition or circumstance that puts a business in a favorable position over its competitors.

• Market Share Analysis

• Competitive Analysis

• Competitive Advantage

• Strength

The process of comparing a business’s income statement with that of its competitors to see how it is doing by industry standards.

• Competitive Information

• Competitive Analysis

• Competitive Advantage

• Market Strategy

Anything related to the competitive environment or to a competitor. For example, information related to products, services, pricing, or marketing plans.

• Competitive Analysis

• Competitive Advantage

• Competitive Information

• Marketing Strategy

A rival business that seeks to attract the same scarce customer dollars.

• Competitive Advantage

• Marketing Strategy

• Competitor

• Threats

Rivalry between or among businesses that offer similar types of goods or services.

• Secondary Competition

• Indirect Competition

• Direct Competition

• Secondary Competition

An organization's future ability to generate larger profits, expand its workforce and increase production.

• Competitive Analysis

• Growth Potential

• Market Share

• Market Share Analysis

The way something is viewed.

• Resource

• Image

• Opportunity

• Capital

Rivalry between or among businesses that offer dissimilar goods or services.

• Direct Competition

• Indirect Competition

• Secondary Competition

• Primary Competition