What is strength, weaknesses, opportunities, and threats.
100
Provide 2 examples of primary market research.
What is surveys, samples, observation, discussion with industry insider, ex.
100
Why type of cost is rent considered?
What is fixed.
100
What type of business would a car wash be an example of?
What is service.
200
Name 3 of the 4 business types.
What is retail, service, manufacturing, and wholesale.
200
How can you protect your intellectual property?
What is trademarks and patients.
200
What is the term that refers to the point when your gross profit equals your operating costs?
What is the break even point.
200
Would advertising be considered a fixed or variable cost?
What is variable cost.
200
List 2 benefits a limited liability company legal structure.
What is cant take your personal assets, not taxed twice.
300
Give 2 examples of dept financing.
What is credit cards, bank, or credit union loans.
300
This term is used to define the amount of money it would take to launch a new business.
What is start up costs.
300
What does ROI stand for?
What is return on investment.
300
What is the purpose of the appendix in a business plan proposal?
What is to store an other information not included in the main business plan. Mostly graphs, charts, financial/income statements, and other business documents.
300
Explain the difference between fixed and variable costs.
What is variable cost change depending on output while fixed cost stay the same.
400
When economic system allows for more private ownership? Communistic, Capitalism, or Socialism.
What is Capitalism
400
This term is used to describe the unique features of your business against other similar businesses.
What is competitive advantage.
400
What are the 4 P's of marketing? Please discribe each of them :)
What is price, product, promotion, and place.
400
Describe the process of bootstrapping in entrepreneurship.
What is paying for start up costs with your own personal funds.
400
Name 3 advantages and 2 disadvantages of being in a partnership.
What is A-Split time, split cost, share in loses. D-Split profit, disagreements.
500
Provide an example of opportunity cost
Example of the benefit you lost from not choosing the second best option.
500
This term is the economic description of roads, bridges, dams, and canals.
What is infrastructure.
500
What is the economic term for the value of supplies you lose during a sale?
Will take economic of one unit or cost of goods sold.
500
What is the term associated with businesses that invest in entrepreneurs for a percentage of their equity?
What is angel/equity investors.
500
What is the term associated with the drop in production when you hire to many workers?