Key Terms 1
Types of Businesses
Key Terms 2
Questions
Questions 2
100
Specially designated areas of a community that provide tax benefits to new businesses
What is enterprise zones
100
One owner
What is Sole Proprietorship
100
form of guaranteed payment
What is secured funds
100
Name the 5 components of the entreprenuer start-up process
What is Entreprenuer, Environment, Opportunity, and Start-up resources
100
Opportunity recognition, concept investigation, product design, prototype building and testing are all parts of what
What is Product Development Process
200
include capital, skilled labor, management expertise, legal and financial advice, facility, equiptment and customers what are these?
What is Star up resources
200
A business with limited liability
What is LLC (limited liability)
200
clear concise description of an opportunity.
What is business concept
200
What are the five marketing strategies that make up the marketing mix?
What is product, place, price, promotion and people
200
What are the three types of discounts applying to purchasing from vendors
What is trade discounts, quality discounts, cash discounts
300
pricing technique in which items are priced in multiples
What is Multiple-unit pricing
300
A company where the profits do not go to the owner
What is nonprofit corporation
300
Support a common line of products or services that satisfy market demands
What is value chains
300
What is a disavantage of a sole proprietorship
What is diffculty in getting investors
300
What are the steps in conducting market research
What is identifying information needs, obtain secondary resources, collect primary data, organize data, analyze data
400
Builds sales by charging a low initial price to keep unit cost to customers as low as possible
What is penetration pricing
400
Pays taxes on earnings
What is C-Corporation
400
Collection of businesses that are categorize by a specific business activity
What is industry
400
Name the factors affecting a price
What is cost and expenses, supply and demand, consumer perceptions, competition, government regulations, technological trends
400
What are the drawbacks of buying a business
What is poor reputaton, lack of profit, dated inventory, repairs
500
A frim that provides transportation services at uniform rates to general public
What is common carrier
500
Avoids double taxation
What is S corporation
500
Small geographic area into which a state or country is divided
What is census tract
500
What are the differnet types of sales promotion
What is displays, premiums, rebates, samples, sweepstakes and contest,visual merchandising, trade shows an conventions
500
What are the factors that should be considred when selecting a business site
What is building evaluatio, leasing/buying, alternative sites
M
e
n
u