The Role of a Small Business

Question 1

5 ways to wealth

Answer 1

inheritance, marraige, lottery, entertainment, start a business

Question 2

Definition

Answer 2

independent, local, small

Question 3

Rule 1

Answer 3

recognize oppotunities

Question 4

Rule 2

Answer 4

critical thinking

Question 5

Rule 3

Answer 5

build team

Question 6

Rule 4

Answer 6

Business plan

Question 7

Rule 5

Answer 7

resources

Question 8

Rule 6

Answer 8

decide ownership

Question 9

Rule 7

Answer 9

Create wealth

Question 10

Business Plan

Answer 10

start and operate business

Question 11

Employee

Answer 11

wealth of others

Question 12

Entrepreneur

Answer 12

earn living

Question 13

Economy

Answer 13

country’s financial structure

Question 14

Compensation

Answer 14

salary, wage, commission, dividend

Question 15

Costs

Answer 15

money and time invested

Question 16

Profit

Answer 16

revenue minus expenses

Question 17

Sources of opportunity

Answer 17

new product, old product new way, cheaper resources, new market for product

Question 18

5 roots opportunity

Answer 18

Problems, changes, inventions, competition, tech advances

Question 19

BIGGEST ISSUES

Answer 19

inadequate financing and or managment

Question 20

Factors in business

Answer 20

economics, technology, lifestyle, legal, demographics