Business Opportunities
A company that conducts business outside national borders.
A) International Business
B) Domestic Business
C) Business to Business
D) Wholesaler
A) International Business
The gap between limited resources and unlimited wants is known as ______________.
A) Demand
B) Scarcity
C) Supply
D) Surplus
B) Scarcity
How a company generates revenue from customer segments.
A) Revenue Streams
B) Customer Segments
C) Channels
D) Key Partners
A) Revenue Streams
A very detailed and comprehensive plan that sets out business objectives and strategies for achieving them.
A) Venture Capital
B) SBA
C) Traditional Business Plan
D) Lean Start-Up Plan
C) Traditional Business Plan
An observable and measurable end result that can be achieved in a specific timeframe
A) Goal
B) Short Term Goal
C) Medium-Term Goal
D) Long Term Goal
A) Goal
An ongoing fee that a franchisee pays the franchisor. The fee is usually a percentage of gross sales.
A) Franchise
B) Franchisee
C) Franchisor
D) Royalty
D) Royalty
The quantity or how much the market can provide is known as ______________.
A) Demand
B) Scarcity
C) Supply
D) Surplus
C) Supply
Different groups of people or organizations that an enterprise wishes to reach and serve.
A) Revenue Streams
B) Customer Segments
C) Channels
D) Key Partners
B) Customer Segments
High-Level focus plan, fast to write, and contains key elements only. Also referred to as a business model canvas.
A) Venture Capital
B) SBA
C) Traditional Business Plan
D) Lean Start-Up Plan
D) Lean Start-Up Plan
A _________________ is a market situation where there are few producers who control the supply of a good or service.
A) Oligopoly
B) Monopoly
C) GDP
D) Competition
A) Oligopoly
A business that has a physical location for consumers to purchase goods.
A) Online Business
B) Brick & Mortar Business
C) Business to Business
D) Domestic Business
B) Brick & Mortar Business
The amount of a product or service desired by buyers is known as ______________.
A) Demand
B) Scarcity
C) Supply
D) Surplus
A) Demand
How a company communicates with and reaches customer segments to deliver a value proposition.
A) Revenue Streams
B) Customer Segments
C) Channels
D) Key Partners
C) Channels
A plan for future financial projections. Income statement, Balance Sheet, and Cash Flow statement should be included.
A) Marketing Plan
B) Management Plan
C) Traditional Business Plan
D) Financial Plan
D) Financial Plan
An asset or item that is purchased for the goal of generating income is known as______________.
A) Investment
B) Motivation
C) Ambition
D) Capital
A) Investment
The manufacturer’s direct point of contact to supply goods to wholesalers.
A) Retailer
B) Manufacturer
C) Wholesaler
D) Distributor
D) Distributor
The point at which supply meets demand is known as ___________.
A) Equilibrium Point
B) Point Equation
C) Relativity
D) Surplus
A) Equilibrium Point
Drivers with cars would be considered a __________________ to Uber.
A) Revenue Stream
B) Customer Segment
C) Channel
D) Key Partner
D) Key Partner
A detailed plan describing the planning, monitoring, and controlling efforts in an organization.
A) Marketing Plan
B) Management Plan
C) Traditional Business Plan
D) Lean Start-Up Plan
B) Management Plan
___________ is the value of all goods and services produced in a country in a specific period of time.
A) Market
B) Business Cycle
C) GDP
D) Economies of Scale
C) GDP
A company that sells goods in large quantities at low prices to retailers.
A) Retailer
B) Manufacturer
C) Wholesaler
D) Distributor
C) Wholesaler
The change in consumer demand as a result of a change in a good or service’s price.
A) Equilibrium Point
B) Point Equation
C) Price Elasticity
D) Surplus
C) Price Elasticity
A comprehensive plan that shows the steps that will be taken to advertise to a target market.
A) Marketing Plan
B) SBA
C) Traditional Business Plan
D) Lean Start-Up Plan
A) Marketing Plan
Combination of internal and external factors that influence the company’s operating situation. Some characteristics include competition, technology, laws, and government.
A) Marketing Plan
B) Management Plan
C) Business Environment
D) Financial Plan
C) Business Environment
A geographic area where sellers offer their goods and services in exchange for consumer dollars.
A) Business Cycle
B) Market
C) GDP
D) Economies of Scale
B) Market