Intro to Business- Chapter 6 – Flashcards

A ______ consists of people with unsatisfied wants and needs who have both the resources and willingness to buy.

Governments try to attract private business investment to specific geographic areas known as ______ by offering lower taxes and other government support.

A group of experienced people from different areas of business who join together as an _____ form a managerial team with the skills needed to develop, make, and market a new product.

A _____ is independently owned and operated, not dominant in its field of operation, and meets certain standards of size in terms of employees or annual receipts.

Individuals or companies known as _____ invest in new businesses in exchange for partial ownership of those businesses.

Centers called _____ offer new businesses low-cost offices with basic business services.

The SBA office known as the _____ has volunteers from industry, trade associations, and education who counsel services for small businesses at no cost, except for expenses.

_____ is accepting the risk of starting and running a business.

Creative people known as _____ work as entrepreneurs within corporations.

A _____ is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owners.

The program through which private investment companies are licensed by the Small Business Administration to lend money to small businesses is called the _____.

_____ are entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle.

The U.S. government agency called the _____ advises and assists small businesses by providing management training and financial advice and loans.

An internet-based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer sent to its web site is known as _____.

Entrepreneurs take the risk of starting a business for

_____ is among the challenges faced by those with home based businesses.

This statement is false about a small business.

A small business is

In measuring the value of a small firm, which of the following would be included?

The primary concerns when first starting your business are:

A business plan for a new business does not need to include:

What are the primary sources of funding for entrepreneurs?

For a market to exist there must be potential buyers:

According to the text, one of the drawbacks of using venture capital is that:

Small business owners often say that the most important assistance they need is in

Small businesses have an advantage over large business in international trade in all these ways:

There are many reasons why small business owners don't go international such as: