Entrep- Final Exam Review

an individual who undertakes the creation, organization, and ownership of an innovation business with potential for growth

• economist

• entrepreneur

• corporation

• monopoly

a new business undertaking that involves risk

• economics

• goods

• venture

• services

Sole proprietorship business can be started by

• at least seven persons

• any one person

• at least two persons

• at least three persons

Which of the following is defined as a business in which partners have an unequal share and liability in the business?

• sole partnership

• limited partnership

• general partnership

• franchise partnership

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

• True

• False

What is NAFTA?

The EU is...

The marketing research process

• Collect primary data, identify your information needs, obtain secondary resources, organize the data, and analyze the data.

• Analyze the data, organize the data, identify your information needs, collect primary data, and obtain secondary resources.

• Identify your information needs, obtain secondary resources, collect primary data, organize the data, and analyze the data.

• Identify your information needs, collect primary data, analyze the data, obtain secondary resources, analyze the data.

A business broker is

• Someone whose jobs is to connect economies of the nations of the world

• Someone who translates other people's languages to English

• Someone whose job is to bring buyers and sellers together.

• someone who creates a legal agreement to begin new businesses in the name of a recognized company. 

There are 5 steps in the research process

• True

• False