WorksheetsIntro - Ch. 6 Review
Total questions: 10
Worksheet time: 5mins
A(n) ___ is someone who takes a risk in starting a business to earn a profit.
Crazy person
Business owner
Celebrity
Entrepreneur
___ is the process of starting, organizing, managing, and assuming the responsibility for a business.
Entrepreneurship
Manufacturing
Accounting
___ is money provided by large investors to finance new products and new business that have a good chance of being profitable.
Venture capital
Loans
Capital
Investments
Which of the following is NOT an advantage of owning your own business?
Personal control
Making money
Losing money
Satisfaction of creating a successful company
___ is any invention or creation that is brand new.
Innovation
Creativity
Improvement
A ___ is an independent business with fewer than 500 employees.
Large business
Small business
Multi-national
Corporation
Most small businesses are SERVICE businesses rather than producers of goods.
True
False
Which is NOT an advantage of a small business?
Located closer to consumers
Offer more unique products / services
More efficient than most large companies
Make a lot of money
A ___ is a written description of the business idea and how it will be carried out, including all major business activities.
Business plan
Mission statement
Goal statement
New businesses often go out of business because of
Higher than expected expenses
Low sales
Competitive pressure
All are reasons
