Study Guide 1
Study Guide 2
Study Guide 3
Study Guide 4
100
What is an entrepreneur?
What is A person who starts his or her own business, instead of working for someone else
100
Why is optimism important for an employee?
What is A positive attitude makes you more pleasant to work with and be around.
100
What is revenue?
What is The total amount your customers pay your business for its products or services
100
What is economic utility?
What is the ability of a product or service to satisfy a consumer.
200
What is a unit of sale?
What is the smallest chunk a product or service can be purchased in.
200
What does the CEO of a company do?
What is The CEO, or chief executive officer, is the active head of the company.
200
What is gross profit?
What is The money left over after the cost of making a product or providing a service
200
What are three main ways to improve a company's economies of scale?
What is Purchasing, labor, and organization
300
What is an economy?
What is a system of production, trade, distribution, and consumption of products and services in an area.
300
What does the president of a company do?
What is The president manages the daily operations of the company.
300
What is net profit?
What is The money left over after all of the business costs are subtracted from the revenue. Net profit is also called the bottom line.
300
What is a product that you believe has saturated the market and why?
What is Cell Phones, Computers, Flat Screen TV, etc.
400
An economy is created by interactions between which two groups of people?
What is producers and consumers.
400
A business idea must be either __________ or __________.
What is New and unique or similar to what other companies are doing, but better in some way
400
What is the difference between direct and indirect competition?
What is Direct competition is competition between companies that offer basically the same product or service. Indirect competition is competition between companies that offer products or services that can be substituted for each other, but which are a little different from each other.
400
What are the four stages of the product life cycle?
What is Introduction, growth, maturity, and saturation and decline
500
What are three main roles an entrepreneur is likely to play in the community?
What is Employer, mentor, and philanthropist
500
List at least four entrepreneurial characteristics and skills.
Creativity, Discipline, Confidence, Independence, Leadership, Listening skills, Writing, speaking, and organizational skills, Optimism, Networking skills and math skills, Developing respect, Passion, Vision
500
What does the Law of Supply say? Please explain why?
What is If all other factors are equal, the supply will increase if the price goes up, and the supply will decrease if the price goes down.
500
Please describe the form utility of the CD
What is Round, Thin, Fits in your Hand, etc.
M
e
n
u