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Business 101 > Exam 2 > Flashcards

Exam 2 Flashcards

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1
Q

Define Entrepreneurship.

A

The process of creating and managing a business

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2
Q

What are government regulations?

A

requirements the government imposes on private firms and individuals to achieve government purposes.

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3
Q

Define a business plan.

A

A plan that outlines the future of your business

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4
Q

Who was the founder of Wal-Mart?

A

Sam Walton

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5
Q

Who is the founder of Microsoft?

A

Bill Gates

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6
Q

Define business ethics.

A

Morally right or wrong for businesses

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7
Q

What does NAFTA stand for?

A

North America Free Trade Agreement

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8
Q

What are joint ventures?

A

Two or more parties that share risk and gain of the business

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9
Q

Define business.

A

an organization or enterprising entity engaged in commercial, industrial, or professional activities

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10
Q

In your opinion, list some advantages and disadvantages of owning a business.

A
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Business 101 (2 decks)

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