business

Intro to Entrepreneurship

100

How many types of entrepreneur are there 

4

200

Give 1 example of functional job,an emotional,social jobs

FJ-practical task (smt you get paid for)

EJ-personal feeling 

SJ-how others perceive you

300

 Who is an entrepreneur?

A entrepreneur is somebody who starts a business and is willing to take risks to make a money.

400

Who are customers 

Those who use products and services from Market

500

what is market research  

is the process of gathering and analyzing information about potential customers, competitors, and trends to help a business

general knowledge ig

100

What is the capital of Canada 

Ottawa 

200

What planet is closest to the sun

Mercury

300

How many continents are there

7

400

How many Great Lakes in North America (Canada)

5

500

Who’s the prime minister (premier) of Ontario

Doug Ford

basic business terms

100

Trade- off

The act of giving up on thing to gain another 

200

what is unemployment rate

the percentage of people who currently dont have jobs but are looking to work 

300

Monopoly 

The market structure with one seller 

400

What is capital 

Money and non-natural resources

500

What does GDP stand for 

the total value of all the finished goods and services in a country over 

Need want or Debts

100

Buying new clothes 

WANT

200

Something we can't live without, like water, oxygen, air is a NEED or a WANT?

NEED

300

car loan 

DEBTS\SAVING

400

Going to the movies 

WANT

500

Rent

NEED

Advanced Business Concepts

100

What is prototyping?

this process involves testing your idea before fully launching it.

200

How many circles of relationships are there 

6

300

What is the law of supply and demand 

• Demand: When a price goes up, people buy less. When it goes down, they buy more.
• Supply: When a price goes up, sellers make more. When it goes down, they make less.

400

give one pro and con for each of the 4 different type of business owners

 

*sole proprietorship 

p:You have total control over decisions

c: You are personally responsible for all debts, meaning personal assets can be Taken 

*Partnership

P:Partners can bring complementary skills, extra capital, and shared workload to the business.

C:Partners are responsible for the business debts and actions of the other partner(s)

*corporation 

P:It creates a shield between personal assets and business liabilities, protecting your personal belongings from business risks.

C: It is more expensive to form and maintain

*co-operatives 

P:The corporation is separate from its owners, allowing for easy transfer of ownership, perpetual existence, and easier

c:Profits are taxed at the corporate level, and shareholders are taxed again on dividends

500

What is Equilibrium?

When the Supply for a product can meet the Demand for a product at a particular Price