Entrepreneurship Semester 1 EXAM

The quantity of a good or service a producer is willing to produce at different prices.

• Demand

• Supply

Data that helps a business determine where its potential customers live and how far they will travel to visit your business.

• Geographic Data

• Survey

5th step to solve problems is

• Primary Data

• Evaluate Action Taken

• Gather Information

• Define The Problem

• Take Action

Things that a person thinks he or she must have in order to be satisfied.

• Needs

• Ideas

• Wants

A description of the person or company that is likely to buy your product or service.

• Customer Profile

• Primary Data

• Business Plan

• Supply

Uses a standard structure but focusing on summarizing the key points and elements of the business.

• Cover Letter

• Supply

• Lean Startup

Reason someone would not start their own business

• Entrepreneurs

• Risk, money, time, etc

• Own boss,

• Business plan

Things that a person must have in order to survive.

• Target Market

• Entrepreneurs

• Wants

• Needs

Thoughts or concepts that come from creative thinking

• Business Plan

• Own Boss,

• Opportunities

• Ideas

Means through which goods and services are produced.

• Target Market

• Executive Summary

• Economic Resources

• Business Plan