Deca Entrepreneurship 2025-2026 latest
update correctly answered 100%
Identify the impact of small business/entrepreneurship on market economies
(EC:065) (CS) - correct answer ✔✔They produce most of the sales, revenue, jobs,
new jobs, make up most businesses, and are unaffected by economic shifts. They
are the roots of our economy.
Explain the concept of private enterprise (EC:009) (CS) - correct answer ✔✔The
supply and demand system of a free-market economic system but it includes
government intervention through taxes, regulations, and halting monopolies.
Identify factors affecting a business's profit (EC:010) (CS) - correct answer ✔✔You
determine what factors are affecting the cost and what factors are affecting the
revenue.
Determine factors affecting business risk (EC:011) (CS) - correct answer
✔✔competition - who else is selling similar products/how much market share do
they have
change in consumer demand - self explanatory
poor management - mismanaging employees (ethics and/or productivity wise)
human factors - stealing, mistakes, lies, etc.
tech usage - how heavily do you rely on tech/how likely is that tech to fail
policy changes - government laws, regulations, etc.
natural disasters - self explanatory
,Explain the concept of competition (EC:012) (CS) - correct answer ✔✔Competition
in the other organizations/businesses selling similar products/services as you
Some benefits of competition are:
Sets market standards
Shows you who your potential customers and/or consumers are
Shows possible gaps in what's currently being offered
Shows where you and your business could provide more value
Determine the relationship between government and business (EC:008) (CS) -
correct answer ✔✔Governments profits off of business via taxes and they
regulate business to stop monopolies and other major business issues.
Describe the nature of taxes (EC:072) (SP) - correct answer ✔✔Taxes are money
paid to the government whether it be on exchanges or assets, they go into
governmental services and projects which are meant to help the population (like
roads, public attorneys, police, etc.)
Describe the concept of economies of scale (EC:077) (MN) - correct answer
✔✔Fixed costs, or costs that stay the same no matter how much of your good or
service you produce (like rent for an office space), allow your cost-per-unit (CPU)
to get lower and lower as you scale up
Ex:
I'm selling x at $10 per unit
I pay $3 on materials per unit and $100 rent per month
If I sell 10 units, my CPU is $13 (10 sold units = $30 on material + $100 on rent)
,If I sell 100 units, my CPU is $4 (100 sold units= $300 on material + $100 on rent)
Describe the nature of entrepreneurship (EN:039) (SP) - correct answer
✔✔Starting a business or organization from the ground up generally with some
financial risk in exchange for the hope of profit.
Explain the role requirements of entrepreneurs and owners (EN:040) (SP) - correct
answer ✔✔Strong leadership - patience, vision, critical thinking, communication
Well-versed in business - decent amount of knowledge on Operations, Marketing,
Finances, and R&D
Describe the use of business ethics in entrepreneurship (EN:044) (SP) - correct
answer ✔✔Business ethics is doing what is moral even when you aren't legally
required to do so.
If you don't keep them in check it can lead to lack of respect from your
employees, employee tensions and mistakes, unhappy customers, a slandered
brand image, and worsened relationships with your suppliers
Describe small-business opportunities in international trade (EN:041) (SP) -
correct answer ✔✔Introduction to an international market
Larger market
You can charge higher (bc you are exporting)
New problems to solve and potential products
Less competition
More resources
, Explain the need for entrepreneurial discovery (EN:001) (ON) - correct answer
✔✔What is it?
The process of systemically scanning for changes (tech, political, regulatory, social,
demographic, etc.) to discover opportunities to produce new goods/services
Why is it needed?
-Increases market competition
-Inspires more innovation
-Leads to industrial progress
-Increases jobs and production
Discuss entrepreneurial discovery processes (EN:002) (ON) - correct answer
✔✔Spot the opportunity (tech, political, regulatory, social, demographic, etc.)
Assess it
(also identify whether it is in an existing or emerging sector)
Assess global trends and opportunities for business ventures (EN:003) (ON) -
correct answer ✔✔Population
Enrichment
Warfare
Government
Poverty
Resources
Forests
Food
Cities
update correctly answered 100%
Identify the impact of small business/entrepreneurship on market economies
(EC:065) (CS) - correct answer ✔✔They produce most of the sales, revenue, jobs,
new jobs, make up most businesses, and are unaffected by economic shifts. They
are the roots of our economy.
Explain the concept of private enterprise (EC:009) (CS) - correct answer ✔✔The
supply and demand system of a free-market economic system but it includes
government intervention through taxes, regulations, and halting monopolies.
Identify factors affecting a business's profit (EC:010) (CS) - correct answer ✔✔You
determine what factors are affecting the cost and what factors are affecting the
revenue.
Determine factors affecting business risk (EC:011) (CS) - correct answer
✔✔competition - who else is selling similar products/how much market share do
they have
change in consumer demand - self explanatory
poor management - mismanaging employees (ethics and/or productivity wise)
human factors - stealing, mistakes, lies, etc.
tech usage - how heavily do you rely on tech/how likely is that tech to fail
policy changes - government laws, regulations, etc.
natural disasters - self explanatory
,Explain the concept of competition (EC:012) (CS) - correct answer ✔✔Competition
in the other organizations/businesses selling similar products/services as you
Some benefits of competition are:
Sets market standards
Shows you who your potential customers and/or consumers are
Shows possible gaps in what's currently being offered
Shows where you and your business could provide more value
Determine the relationship between government and business (EC:008) (CS) -
correct answer ✔✔Governments profits off of business via taxes and they
regulate business to stop monopolies and other major business issues.
Describe the nature of taxes (EC:072) (SP) - correct answer ✔✔Taxes are money
paid to the government whether it be on exchanges or assets, they go into
governmental services and projects which are meant to help the population (like
roads, public attorneys, police, etc.)
Describe the concept of economies of scale (EC:077) (MN) - correct answer
✔✔Fixed costs, or costs that stay the same no matter how much of your good or
service you produce (like rent for an office space), allow your cost-per-unit (CPU)
to get lower and lower as you scale up
Ex:
I'm selling x at $10 per unit
I pay $3 on materials per unit and $100 rent per month
If I sell 10 units, my CPU is $13 (10 sold units = $30 on material + $100 on rent)
,If I sell 100 units, my CPU is $4 (100 sold units= $300 on material + $100 on rent)
Describe the nature of entrepreneurship (EN:039) (SP) - correct answer
✔✔Starting a business or organization from the ground up generally with some
financial risk in exchange for the hope of profit.
Explain the role requirements of entrepreneurs and owners (EN:040) (SP) - correct
answer ✔✔Strong leadership - patience, vision, critical thinking, communication
Well-versed in business - decent amount of knowledge on Operations, Marketing,
Finances, and R&D
Describe the use of business ethics in entrepreneurship (EN:044) (SP) - correct
answer ✔✔Business ethics is doing what is moral even when you aren't legally
required to do so.
If you don't keep them in check it can lead to lack of respect from your
employees, employee tensions and mistakes, unhappy customers, a slandered
brand image, and worsened relationships with your suppliers
Describe small-business opportunities in international trade (EN:041) (SP) -
correct answer ✔✔Introduction to an international market
Larger market
You can charge higher (bc you are exporting)
New problems to solve and potential products
Less competition
More resources
, Explain the need for entrepreneurial discovery (EN:001) (ON) - correct answer
✔✔What is it?
The process of systemically scanning for changes (tech, political, regulatory, social,
demographic, etc.) to discover opportunities to produce new goods/services
Why is it needed?
-Increases market competition
-Inspires more innovation
-Leads to industrial progress
-Increases jobs and production
Discuss entrepreneurial discovery processes (EN:002) (ON) - correct answer
✔✔Spot the opportunity (tech, political, regulatory, social, demographic, etc.)
Assess it
(also identify whether it is in an existing or emerging sector)
Assess global trends and opportunities for business ventures (EN:003) (ON) -
correct answer ✔✔Population
Enrichment
Warfare
Government
Poverty
Resources
Forests
Food
Cities
