DECA entrepreneurship test questions &
answers 2024/2025
Define SBA and list 3 ways they help small business - ANSWERSThe small business administration
provides federal aid to small businesses. This is through education, grants, and loan guarantees.
2 reasons why Entrepreneurship is growing - ANSWERSCorporate downsizing, need for dual incomes,
global economy, government support, technology and the internet
How is outsourcing leading to new industries - ANSWERSIt creates the opportunity to create a company
that can preform a specific job for a company at a reduced cost to the company. For instance Janaking
providing janitorial services to big companies or the food service at our school
Define global economy - ANSWERSDoing business around the world. This is now easier than ever before
Difference between public and private businesses - ANSWERSGovernment jobs like teachers police and
government employees. Private jobs are corporate america jobs through entrepreneurs.
Importance of entrepreneurship - ANSWERSSmall businesses employ over 50% of all private sector
employees. It accounts for over 45% of private sector payroll. 97% of exports from small businesses and
60-805 of all new jobs over past 10 years
What is a trade deficit - ANSWERSWhen a company imports more than it exports
Define brick and Mortar - ANSWERSA business' physical location
What does scaling a business mean - ANSWERSGrowing it
Difference between an idea and opportunity - ANSWERSAn idea is a thought while an opportunity is an
idea with commercial potential
answers 2024/2025
Define SBA and list 3 ways they help small business - ANSWERSThe small business administration
provides federal aid to small businesses. This is through education, grants, and loan guarantees.
2 reasons why Entrepreneurship is growing - ANSWERSCorporate downsizing, need for dual incomes,
global economy, government support, technology and the internet
How is outsourcing leading to new industries - ANSWERSIt creates the opportunity to create a company
that can preform a specific job for a company at a reduced cost to the company. For instance Janaking
providing janitorial services to big companies or the food service at our school
Define global economy - ANSWERSDoing business around the world. This is now easier than ever before
Difference between public and private businesses - ANSWERSGovernment jobs like teachers police and
government employees. Private jobs are corporate america jobs through entrepreneurs.
Importance of entrepreneurship - ANSWERSSmall businesses employ over 50% of all private sector
employees. It accounts for over 45% of private sector payroll. 97% of exports from small businesses and
60-805 of all new jobs over past 10 years
What is a trade deficit - ANSWERSWhen a company imports more than it exports
Define brick and Mortar - ANSWERSA business' physical location
What does scaling a business mean - ANSWERSGrowing it
Difference between an idea and opportunity - ANSWERSAn idea is a thought while an opportunity is an
idea with commercial potential
