A business that purchases products in bulk from the manufacturer and sells them for a profit
What is a wholesaler?
100
A person who starts a venture to solve a problem or take advantage of an opportunity
What is an entrepreneur
100
The way in which individuals, businesses, government, and society deal with the creation and distribution of wealth
What is economy?
100
If the business looses money, investors can take personal property for payment of debt
What is Unlimited Liability?
200
The easiest type of business ownership to start-up
What is a sole proprietorship?
200
A statement found in a business plan detailing what the business intends to accomplish over a specific period of time.
What is a business objective?
200
The study of how wealth is created
What is economics?
200
Applying for a loan, having a clear reason, or objective for entering into a particular type of business, and analyzing potential target markets are reasons to create one of these:
What is a business plan?
300
When a business sells single items to individual customers
What is a retailer?
300
A catchy phrase businesses use for customers to remember and relate to
What is a slogan?
300
An economy where the government has control of only the major industries; Canada is an example of this type of economy
What is a Socialistic economy?
300
If Veronica uses the idea of keystoning and her total sales for an entire box of individually wrapped cookies were $24.00 then how much did she originally purchase the box of cookies for?
What is $12.00?
400
A business entity or artificial being with most of the legal rights of a person
What is a corporation?
400
Demographics, Psychographics, and Geographics should be considered when creating this:
What is a Target Market?
400
Land and Natural Resources, Labor, capital, and entrepreneurship
What are the four factors of production?
400
The percent markup, or profit margin you have when you keystone is this:
What is 50% profit margin
500
The Board of Directors of a corporation are directly responsible to this group:
Who are stockholders?
500
When a customer complains an entrepreneur should always do this:
What is have a policy of "the customer is always right"
500
The total dollar value of ALL goods and services produced by ALL people within a given country during one-year.
What is Gross Domestic Product (GDP)?
500
A box of 100 pencils cost $24.00. The unit price is this: