What is a marketing plan?

• A plan to improve product quality

• A document outlining a company's strategy for marketing its products

• A plan for managing company finances

• A guide for employee conduct

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

• It increases unemployment

• It creates job opportunities

• It reduces competition

• It lowers innovation

What are financial statements?

• Documents that outline marketing strategies

• Records that provide an overview of a company's financial performance

• Guidelines for ethical business practices

• Plans for future business growth

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

• True

• False

__________ occurs when demand exceeds supply.

• Surplus

• Scarcity

• Equilibrium

• Profit

__________ is a good reason not everyone wants to be an entrepreneur.

• Risk of failure

• High salary

• Job security

• Benefits

Entrepreneurs see many benefits in joining ____________.

• Government jobs

• Corporate businesses

• Entrepreneurial networks

• Non-profit organizations

______________ is the selling and shipping of goods to another country.

• Importing

• Exporting

• Trading

• Bartering

Anika and Zoe are discussing business. Anika explains that ____________ is the buying or bringing in goods from other countries to sell.

• Importing

• Exporting

• Trading

• Bartering

Taxes imposed by a government on imported or exported goods are called __________.

• Duties

• Tariffs

• Excises

• Levies