Business Basics Business Plan Legal Issues Gov. Regulations Misc.

Question:An idea for a new business that can be tested is called what? Check Your Answer Business Basics for 1

Answer: business concept Back to the Game Board Business Basics for 1

Question: the main concept of a business that can be ACHIEVABLE is called what? Business Basics for 2 Check Your Answer

Answer: mission Back to the Game Board Business Basics for 2

Question: What kind of analysis should you conduct to determine if your business is practical? Business Basics for 3 Check Your Answer

Answer: Feasibility analysis Back to the Game Board Business Basics for 3

Question: Name 3 of the 4 areas that a competitive grid chart identifies and analyzes. Business Basics for 4 Check Your Answer

Answer: 1.Competitors 2.Customers 3.Strengths and weaknesses 4.Business benefits Back to the Game Board Business Basics for 4

Question: What are the 5 C’s of Credit? Business Basics for 5 Check Your Answer

Answer: 1.Character 2.Capacity 3.Collateral 4.Conditions 5.Capital Back to the Game Board Business Basics for 5

Question: The part of the business plan that identifies the legal form of the company is called what? Business Plan for 1 Check Your Answer

Answer: Organizational Plan Back to the Game Board Business Plan for 1

Question: What part of the business plan describes the logistics of getting the product to the customer? Business Plan for 2 Check Your Answer

Answer: Operational Plan Back to the Game Board Business Plan for 2

Question: What part of the business plan identifies how the company plans to expand? Business Plan for 3 Check Your Answer

Answer: Growth Plan Back to the Game Board Business Plan for 3

Question: What part of the business plan describes image, promotion and pricing strategies? Business Plan for 4 Check Your Answer

Answer: Marketing Plan Back to the Game Board Business Plan for 4

Question: What part of the business plan identifies data related to the market or industry? Business Plan for 5 Check Your Answer

Answer: Industry/Market Analysis Back to the Game Board Business Plan for 5

Question: What kinds of products does a patent protect? Legal Issues for 1 Check Your Answer

Answer: Inventions Back to the Game Board Legal Issues for 1

Question: A binding agreement between 2 or more parties is called what? Legal Issues for 2 Check Your Answer

Answer: contract Back to the Game Board Legal Issues for 2

Question: What is the legally protected word, symbol or design businesses use to identify their products? Legal Issues for 3 Check Your Answer

Answer: Trademark Back to the Game Board Legal Issues for 3

Question: Which form of protection lasts for 50 years? Legal Issues for 4 Check Your Answer

Answer: Copyright Back to the Game Board Legal Issues for 4

Question: What is the difference between a lessee and a lessor? Legal Issues for 5 Check Your Answer

Answer: Lessee: one who pays rent Lessor: one who owns the property and receives the rent Back to the Game Board Legal Issues for 5

Question: Which local laws determine requirements for business signs? Gov. Reguations for 1 Check Your Answer

Answer: Zoning Laws Back to the Game Board Gov. Regulations for 1

Question: Which federal law established minimum wage? Gov. Regulations for 2 Check Your Answer

Answer: Fair Labor Standards Act Back to the Game Board Gov. Regulations for 2

Question: Which federal law disallows race discrimination in hiring? Gov. Regulations for 3 Check Your Answer

Answer: Equal Employment Opportunity Act Back to the Game Board Gov. Regulations for 3

Question: What did the Clayton Act establish as unlawful? Gov. Regulations for 4 Check Your Answer

Answer: Price discrimination Back to the Game Board Gov. Regulations for 4

Question: What does OSHA stand for? Gov. Regulations for 5 Check Your Answer

Answer: Occupational Safety and Health Administration Back to the Game Board Gov. Regulations for 5

Question: What set of laws cover all forms of business practices? Miscellaneous for 1 Check Your Answer

Answer: Uniform Commercial Code Back to the Game Board Miscellaneous for 1

Question: All money needed to keep a business going is called what? Miscellaneous for 2 Check Your Answer

Answer: Operational expenses Back to the Game Board Miscellaneous for 2

Question: On a check stub, what does FICA represent? Miscellaneous for 3 Check Your Answer

Answer: Social Security Tax Back to the Game Board Miscellaneous for 3

Question: What is the difference between a customer and a consumer? Miscellaneous for 4 Check Your Answer

Answer: Customer: buys the product Consumer: uses the product Back to the Game Board Miscellaneous for 4

Question: What is the difference between a product feature and a product benefit? Miscellaneous for 5 Check Your Answer

Answer: Feature: physical trait Benefit: the satisfaction the consumer gets from the trait Back to the Game Board Miscellaneous for 5