©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
Entrepreneurship EOPA Review Questions and
Answers (100% Pass)
SWOT - Answer✔️✔️-An tool used by individuals that want to analyze the
strengths, weaknesses, opportunities, and threats of an organization for
better decision making.
SWOT External Controls - Answer✔️✔️-Opportunities and Threats in SWOT
Analysis (things that affect a business but they cannot control)
SWOT Internal Controls - Answer✔️✔️-Strengths and Weaknesses in SWOT
Analysis (things that affect a business they CAN control)
NAFTA - Answer✔️✔️-Free-Trade agreement between the U.S., Mexico, and
Canada.
General Partnership - Answer✔️✔️-A business ownership type where
partners have unlimited liability. Each partnership must have at least one
GENERAL partner.
Limited Partnership - Answer✔️✔️-A business ownership type where
partners have limited liability.
Marketing - Answer✔️✔️-The planning, pricing, promoting, and distribution
of goods and services.
Advertising - Answer✔️✔️-Is a form of marketing used to promote or sell
something.
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, ©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
Logistics - Answer✔️✔️-Part of the supply chain that plans, implements, and
controls the flow and storage of goods, services, and related information
between the point of origin and the point of consumption.
Sales Forecasting - Answer✔️✔️-The process of predicting what future sales
will be.
Performance Evaluation - Answer✔️✔️-An evaluation that takes place
between and employee and employer that reviews and discusses job
performance, sets goals for professional development, and establishes
objectives and expectations.
Mission Statement - Answer✔️✔️-The part of a business plan that defines the
company's goals and purpose.
Brainstorming - Answer✔️✔️-Is the step in the problem-solving process that
helps generate new ideas or solutions.
Trade Deficit - Answer✔️✔️-When a country imports more than it exports.
Trade Surplus - Answer✔️✔️-When a country exports more than it imports.
Market Analysis - Answer✔️✔️-Researching the characteristics of a
marketplace for factors and conditions that could affect sales.
Capitalism - Answer✔️✔️-The private ownership of economic resources by
individuals rather than by the government.
Command Economy - Answer✔️✔️-An economy in which resources are
owned and controlled by the government.
2
Entrepreneurship EOPA Review Questions and
Answers (100% Pass)
SWOT - Answer✔️✔️-An tool used by individuals that want to analyze the
strengths, weaknesses, opportunities, and threats of an organization for
better decision making.
SWOT External Controls - Answer✔️✔️-Opportunities and Threats in SWOT
Analysis (things that affect a business but they cannot control)
SWOT Internal Controls - Answer✔️✔️-Strengths and Weaknesses in SWOT
Analysis (things that affect a business they CAN control)
NAFTA - Answer✔️✔️-Free-Trade agreement between the U.S., Mexico, and
Canada.
General Partnership - Answer✔️✔️-A business ownership type where
partners have unlimited liability. Each partnership must have at least one
GENERAL partner.
Limited Partnership - Answer✔️✔️-A business ownership type where
partners have limited liability.
Marketing - Answer✔️✔️-The planning, pricing, promoting, and distribution
of goods and services.
Advertising - Answer✔️✔️-Is a form of marketing used to promote or sell
something.
1
, ©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
Logistics - Answer✔️✔️-Part of the supply chain that plans, implements, and
controls the flow and storage of goods, services, and related information
between the point of origin and the point of consumption.
Sales Forecasting - Answer✔️✔️-The process of predicting what future sales
will be.
Performance Evaluation - Answer✔️✔️-An evaluation that takes place
between and employee and employer that reviews and discusses job
performance, sets goals for professional development, and establishes
objectives and expectations.
Mission Statement - Answer✔️✔️-The part of a business plan that defines the
company's goals and purpose.
Brainstorming - Answer✔️✔️-Is the step in the problem-solving process that
helps generate new ideas or solutions.
Trade Deficit - Answer✔️✔️-When a country imports more than it exports.
Trade Surplus - Answer✔️✔️-When a country exports more than it imports.
Market Analysis - Answer✔️✔️-Researching the characteristics of a
marketplace for factors and conditions that could affect sales.
Capitalism - Answer✔️✔️-The private ownership of economic resources by
individuals rather than by the government.
Command Economy - Answer✔️✔️-An economy in which resources are
owned and controlled by the government.
2
