Which of these is an incorrect statement for entrepreneurs when starting up a new business?
You get to be your own boss
You make your own rules
Starting up your own business is easy to do
Government grants contribute to the costs of a project
Government grants have to be paid back
Which explanation best describes opportunity cost?
The cost of the next best alternative
Having the opportunity to charge different prices to different customers
Taking the opportunity to pay for the cost of expenditures in order to increase success
Why do people brainstorm?
To get creative ideas through open-ended discussion
To get staff members ready for the proceedings of the day
To allow others to speak about the things they don't like about the business
A franchise is a business contract to allow a business to buy products form other businesses
What is trademark?
The protection given to books and plays
The right to produce a product
A way in which business differentiates itself from it's competitors
Business activity is classified in 4 different sectors?
In a stratified sample everyone has an equal chance of being in the sample
Motivation can be done by...
Giving people a pay rise
Allowing staff to talk to customers
Make staff work longer hours
