Entrepreneurship
Small Business
Key Words
Chap 1/2
Chap 3/4
100
A business that operates on the Internet
What is a virtual business
100
being the boss, opportunity to offer services large companies cannot offer, ease of formation
What is advantages of small business
100
The money that is left over after a business has paid all the costs of producing its good/services
What is profit
100
are things you wished you have
What is want
100
is a peak of economic activity
What is prosperity
200
satisfaction from taking a a risk and becoming a success, showing expertise and skills
What is advantages of an entrepreneurship
200
effect of change, managerial skills needed, and inadequate financial planning
What is disadvantages of small business
200
a person who likes to chances
What is risk taker
200
a person who selects, purchases, uses or disposes of goods and services.
What is consumer
200
The rise and fall of economic activity over time
What is business cycle
300
total responsibility for the business, long hours, financial risks
What is disadvantages of entrepreneurship
300
an independently owned business serving limited geographic area
What is small business
300
the knowledge, efforts, and skills people bring to their work are
What is human resources
300
is a set of strict guidelines for maintaining ethics in the workplace
What is code of ethics?
400
dependent on others, low self-image, lazy and procrastinator
What is non characteristics of entrepreneur
400
a written description of new business venture that describes all aspects of the business.
What is business plan
400
natural resources, human resources, capital resources and entrepreneurial resources
What are the four factors of production
400
Prosperity, recession, depression, and recovery
What are the four phases of business cycle
500
They run out of money
What is the main reason for failure?
500
Salk's
What is example of a small business?
500
a business started by someone who accepted the risk of starting and running a business
What is entrepreneurship
500
studies how society chooses to use resources to produce and distribute goods and services for people's consumption.
What is economics?
500
is the amount of goods and services the average citizen can buy
What is standard of living
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