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27 Multiple choice questions

  1. money or property owned or used in business
  2. a decision-making process in which the costs of taking an action are compared to the benefits
  3. fixed amount of money paid to an employee at regular intervals
  4. a percentage of a sale paid to a salesperson
  5. something tangible that exists in nature or is made by people
  6. fixed payment per hour for work performed
  7. a microenterprise that permits its owners to follow a desired pattern of living, such as supporting college costs or taking vacations
  8. a person who recognizes an opportunity and organizes and manages a business, assuming the risk for the sake of potential return
  9. a subset or segment of social entrepreneurship wherein financial and human capital is invested in not-for-profits by individuals and for-profit enterprises, with the intention of generating social rather than financial returns on their investments
  10. a firm with five or fewer employees, initial capitalization requirements of under $50,000, and the regular operational involvement of the owner
  11. the exercise of reasonable care in the evaluation of a business opportunity
  12. a plan for how an organization or individual plans to proceed with business operations and outperform that of its competitors
  13. intangible work that provides time, skills, or expertise in exchange for money
  14. the free-market system, characterized by individuals and companies competing for economic gains, ownership of private property and wealth, and price determination through free-market forces
  15. a business that markets a product or service developed by a franchisor, typically i the manner specified by that franchisor
  16. the value of what must be given up in order to obtain something else
  17. business activities that avoid harm to the environment or help to protect it in some way
  18. a for-profit enterprise with the dual goals of achieving profitability and attaining social returns
  19. a trusted advisor with whom a person forms a developmental partnership through which information, insight, skills, and knowledge are shared to promote personal and/or professional growth
  20. each stockholder's portion of the profit-per-share paid out by a corporation
  21. a transaction between two parties who agree to trade money for a product or service
  22. a business purchase
  23. the act of giving up on one thing for another
  24. amount of earnings remaining after all costs are deducted from the income of a business
  25. a company that achieves an annual growth rate of 20 percent or greater, typically measures by the increase of sales revenue
  26. economic system in which businesses are privately owned and operate relatively free of government interference
  27. a company created to achieve a social objective while generating a modest profit to expand its reach, improve the product or service, and subsidize the social mission