EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
Employees - (answer)People who work for someone else
self-assessment - (answer)an evaluation of your strengths and weaknesses
brainstorming - (answer)a creative problem-solving technique that involves generating a large number
of fresh ideas
Entrepreneurs - (answer)People who own, operate, and task the risk of a business venture
trade shows - (answer)special meetings at which companies of the same or related industry display their
products
ideas - (answer)thoughts or concepts that come from creative thinking
aptitude - (answer)the ability to learn a particular kind of job
entrepreneurship - (answer)the process of running a business of one's own
capitalism - (answer)private ownership of resources by individuals
economic resources - (answer)the means through which goods and services are produced
wants - (answer)those things that you think you must have in order to be satisfied
scarcity - (answer)occurs when people's needs and wants are unlimited and resources are limited
,EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
economic decision making - (answer)the process of choosing which wants you will satisfy using the
resources you have
opportunity cost - (answer)the value of the next-best alternative- the one you must pass up
equilibrium price and quantity - (answer)point at which supply and demand meet
marginal benefit - (answer)measures the advantage of producing one additional unit of a good or service
capitalism - (answer)private ownership of resources by individual
needs - (answer)an individual's need or desire for a product or service at a given price
variable costs - (answer)costs that go up or down depending on the quantity of the good or service
produced
business plan - (answer)a written document that describes all the steps necessary for opening and
operating a successful business
pro forma financial statement - (answer)a financial statement based on projected revenues and
expenses
cover letter - (answer)a letter that introduces and explains an accompanying document or set of
documents
executive summary - (answer)a short restatement of a report
,EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
statement of purpose - (answer)a brief explanation of why you are asking for a loan and what you plan
to do with the money
Small Business Administration (SBA) - (answer)an independent agency of the federal government
created to help Americans start, build and grow businesses
Service Corp of Retired Executives (SCORE) - (answer)Organization made up of more than 10,500 retired
executives who volunteer their time to provide entrepreneurs with real-world advice and know-how
trade association - (answer)organizations made up of professionals in a specific industry
Customer profile - (answer)Description of the characteristics of the person or company that is likely to
purchase a product or service
demographics - (answer)data that describe a group of people in terms of their age, marital status, family
size, ethnicity, gender, profession, education, and income
focus group - (answer)an in-depth interview with a group of target customers who provide valuable
ideas on products and services
primary data - (answer)information collected for the first time to fit a specific purpose
market research - (answer)a system for collecting, recording, and analyzing information about
customers, competitors, goods, and services
psychographics - (answer)data that describe a group of people in terms of their tastes, opinions,
personality traits, and lifestyle habits
, EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
secondary data - (answer)data found in already published sources
direct competition - (answer)a business that makes most of its money selling the same or similar
products or services to the same market as the other business
intellectual property - (answer)the original, creative work of an artist or inventor
advertising fees - (answer)paid to the franchise company to support television, magazine, or other
advertising of the franchise as a whole
patent - (answer)the grant of a property right to an inventor to exclude others from making, using, or
selling his or her invention
advertising fees - (answer)paid to the franchise company to support television, magazine, or other
advertising of the franchise as a whole
intellectual property - (answer)the original, creative work of an artist or inventor
corporation - (answer)a business that has the legal rights of a person but is independent of its owners
dividends - (answer)distributions of corporate profits to shareholders
franchise - (answer)a legal agreement that gives an individual the right to market a company's products
or service in a particular area
initial franchise fee - (answer)the amount the local franchise owner pays in return for the right to run
the franchise
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
Employees - (answer)People who work for someone else
self-assessment - (answer)an evaluation of your strengths and weaknesses
brainstorming - (answer)a creative problem-solving technique that involves generating a large number
of fresh ideas
Entrepreneurs - (answer)People who own, operate, and task the risk of a business venture
trade shows - (answer)special meetings at which companies of the same or related industry display their
products
ideas - (answer)thoughts or concepts that come from creative thinking
aptitude - (answer)the ability to learn a particular kind of job
entrepreneurship - (answer)the process of running a business of one's own
capitalism - (answer)private ownership of resources by individuals
economic resources - (answer)the means through which goods and services are produced
wants - (answer)those things that you think you must have in order to be satisfied
scarcity - (answer)occurs when people's needs and wants are unlimited and resources are limited
,EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
economic decision making - (answer)the process of choosing which wants you will satisfy using the
resources you have
opportunity cost - (answer)the value of the next-best alternative- the one you must pass up
equilibrium price and quantity - (answer)point at which supply and demand meet
marginal benefit - (answer)measures the advantage of producing one additional unit of a good or service
capitalism - (answer)private ownership of resources by individual
needs - (answer)an individual's need or desire for a product or service at a given price
variable costs - (answer)costs that go up or down depending on the quantity of the good or service
produced
business plan - (answer)a written document that describes all the steps necessary for opening and
operating a successful business
pro forma financial statement - (answer)a financial statement based on projected revenues and
expenses
cover letter - (answer)a letter that introduces and explains an accompanying document or set of
documents
executive summary - (answer)a short restatement of a report
,EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
statement of purpose - (answer)a brief explanation of why you are asking for a loan and what you plan
to do with the money
Small Business Administration (SBA) - (answer)an independent agency of the federal government
created to help Americans start, build and grow businesses
Service Corp of Retired Executives (SCORE) - (answer)Organization made up of more than 10,500 retired
executives who volunteer their time to provide entrepreneurs with real-world advice and know-how
trade association - (answer)organizations made up of professionals in a specific industry
Customer profile - (answer)Description of the characteristics of the person or company that is likely to
purchase a product or service
demographics - (answer)data that describe a group of people in terms of their age, marital status, family
size, ethnicity, gender, profession, education, and income
focus group - (answer)an in-depth interview with a group of target customers who provide valuable
ideas on products and services
primary data - (answer)information collected for the first time to fit a specific purpose
market research - (answer)a system for collecting, recording, and analyzing information about
customers, competitors, goods, and services
psychographics - (answer)data that describe a group of people in terms of their tastes, opinions,
personality traits, and lifestyle habits
, EOPA Entrepreneurship Study Set exam WITH QUESTIONS AND CORRECT VERIFIED
ANSWERS GRADED A+ GUARANTEED 100% PASS risk - ANSWER-the chance of losing
something reasons for being an entrepreneur - ANSWER-making your own rules, doing
work you en
secondary data - (answer)data found in already published sources
direct competition - (answer)a business that makes most of its money selling the same or similar
products or services to the same market as the other business
intellectual property - (answer)the original, creative work of an artist or inventor
advertising fees - (answer)paid to the franchise company to support television, magazine, or other
advertising of the franchise as a whole
patent - (answer)the grant of a property right to an inventor to exclude others from making, using, or
selling his or her invention
advertising fees - (answer)paid to the franchise company to support television, magazine, or other
advertising of the franchise as a whole
intellectual property - (answer)the original, creative work of an artist or inventor
corporation - (answer)a business that has the legal rights of a person but is independent of its owners
dividends - (answer)distributions of corporate profits to shareholders
franchise - (answer)a legal agreement that gives an individual the right to market a company's products
or service in a particular area
initial franchise fee - (answer)the amount the local franchise owner pays in return for the right to run
the franchise
