Entrepreneurship Final Review

What's a marketing plan?

• a set of procedures or strategies for attracting the target customer to a business.
• a plan that evaluates the overall business
• A short statement on an organizations business.
• a pain

Which of the following is a way that entrepreneurship helps our society:

• Creates new jobs
• Eliminates financial concerns
• Reduces taxes
• Decreases economic growth

What are financial statements?

• Banks, individuals, shareholders and other interested party
• Statement of Financial Position
• Financial statements are written reconcialilons of pizza toppings
• Financial statements are a collection of reports used to make business decisions.

The executive summary is the shortest and least important part of the marketing plan.

• True
• False

A/An_____________is an individual who undertakes the creation, organization, and ownership of a business.

• consumer
• entrepreneur
• business owner
• capitalist

A/An___________ is a new business undertaking that involves risk.

• monopoly
• venture
• entrepreneur
• market structure

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

• Entrepreneurship
• Economics
• Free enterprise system
• Monopoly

___________is money left after all expenses of running a business have been deducted from the income.

• Profit
• Capital
• Cost
• Surplus

A__________is a basic requirement for survival.

• need
• good
• service
• want

________ occurs when demand exceeds supply.

• Production
• Scarcity
• Want
• Need