Chp 27 Starting a Business
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9th - 12th Grade
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Carly Jorgensen
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21 Slides • 21 Questions
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Chp 27 Starting a Business
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Multiple Choice
Person who takes the risk to start a new business.
Entrepreneurship
Entrepreneur
Owner
Manager
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Multiple Choice
The process of taking the risk of starting a new business.
Entrepreneurship
Entrepreneur
Owner
Manager
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Open Ended
Name an entrepreneur. (Any one who has started a business.)
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10
Multiple Choice
True or False? Successful entrepreneurs are hardworking but not creative.
True
False
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Multiple Choice
An advantage of entrepreneurship is that you determine your work schedule.
True
False
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Multiple Choice
An advantage of entrepreneurship is that income is often irregular.
True
False
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15
Multiple Choice
Entrepreneurs sometimes experience large financial losses.
True
False
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17
Multiple Choice
The three basic ways to start a business are to ____.
analyze the competition, buy a building, or join a professional association
buy an existing business, buy a franchise, or start a business from scratch
work for your parents, get ideas from friends, or join a chamber of commerce
buy a building, get ideas from friends, or start a business from scratch
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Multiple Choice
What is the main disadvantage of buying an existing business?
The business may be for sale because it has problems.
The business already has customers, employees, a location, equipment, and working operations.
The business has a financial history.
The seller may be willing to act as a consultant.
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Multiple Choice
If you buy a franchise, you must follow rules set by the _____.
Previous owner
Franchisor
Franchisee
No one, you are the owner
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Multiple Choice
Which of the following are the three forms of business ownership?
Chain, franchise, and independent.
Commercial, institutional, and within a business.
Corporation, partnership, and sole proprietorship.
Hotel, motel, and bed-and-breakfast.
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Multiple Choice
The sole proprietorship structure of ownership has many government regulations.
True
False
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Multiple Choice
Partnerships have the potential for conflict among the partners.
True
False
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Multiple Choice
One of the advantages of the corporate structure of ownership is that the owner has total control.
True
False
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Multiple Choice
Many entrepreneurs have to take out a loan which is...
Money earned from a start up company.
Money borrowed from a bank or other source, with the expectation that the money will be repaid with interest.
Money borrowed from a bank or other source, with the expectation that the money will not be repaid.
Money lent to entrepreneurs to start up new businesses.
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Open Ended
What is a business plan?
(Use the definition from the previous slide)
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Multiple Choice
Which of the following is the first part of the business plan, but is the last part written?
Executive summary.
Industry/market analysis.
Marketing plan.
Operations plan.
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Multiple Choice
The section of the business plan that describes product, place, price, and promotion is the _________.
executive summary
sole proprietorship
marketing plan
customers
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Multiple Choice
In a business plan, the description of a business should include the business concept, goals, and ownership structure.
True
False
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Multiple Choice
Association of business people who work together to promote business in their area.
U.S. Small Business Administration
SCORE
professional associations
Chamber of Commerce
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Open Ended
If you could own your own business one day, what would it be?
Chp 27 Starting a Business
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