Name 4 Characteristics of a successful entrepreneur and a failed entrepreneur
What are the 3 motives of an entrepreneur?
What are the four leadership styles?
Explain McGregor's Theory X and Theory Y.
Factors affecting demand: Price - price set by suppliers is crucial is the consumer equation
Which factors affect demand?
What does the Demand Curve allow?
What is a Supply Curve?
What changes demand?
What are the 2 types of primary research?
What are the 4 types of sample?
Define- Market Size
Market Share is...
Market Subdivision: Segmentation
What are mass and niche markets?
What should entrepreneurs do in finding the right market?
What is a market map?
What is a competitive advantage?
Why are product trials used?
What is a trade off/ opportunity cost?
What are interest rates?
How can changing interest rates affect businesses?
What are exchange rates?
How do changing exchange rates affect businesses?
How can the governments spending and taxation affect businesses?
What is inflation?
What are a few advantages and disadvantages of inflation?
What are the types of finance that can be sourced?
What are unlimited and limited liability?
What are the different pricing strategies?
What is the psychological aspect of price?
Everyday low pricing:
Name one other pricing strategy:
What is break-even point?
How much money per unit of sales do you have after paying variable costs. Describes?
What does a break-even chart show?
What is the margin of safety?
Total revenue- Total cost is the equation for?
What is the difference between fixed and variable costs?
What are the equations for gross prift, and operating profit?
What is a business plan?
What would you expect to see in a business plan?