1. International Business Jeopardy

2. The Law & Legal Systems

3. Property & Contracts

4. Conflict Resolution

5. The Entrepreneur

6. The Business Plan

7. Operating your own small business

8. Operating a small business
The Law & Legal Systems
Property & Contracts
Conflict Resolution
The Entrepreneur
The Business Plan
Operating a small business
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9. Code law is also referred to as this

10. What is Civil law?

11. Law established on a case by case basis

12. What is common law?

13. This responsibility holds the manufacturer & seller accountable for the safety of their product

14. What is product liability?

15. Laws that are enacted by a body of lawmakers or legislators

16. What is Statutory Law?

17. This term refers to the failure of a responsible party to follow “standards of due care”

18. What is negligence?

19. Land or anything built or attached to that land

20. What is real property?

21. This component is evidence that there is a “meeting of the minds”

22. What is mutual agreement?

23. Something of value must be given up by two or more parties

24. What is consideration?

25. This type of contract has both parties bound by their exchange of promises

26. What is a bilateral contract?

27. No funny farm for you…..

28. What is capacity?

29. Cannot enforce a binding agreement until all parties reach agreement

30. What is mediation?

31. Hi ho, hi ho, it’s off to court we go……

32. What is litigation?

33. Bad publicity, time consuming, and way expensive

34. What are reasons for not using litigation?

35. Third party expert, who can render a binding decision when parties cannot resolve a problem

36. What is an arbitrator?

37. For multinational corporations, these are the two preferred means of resolving conflict

38. What is mediation and arbitration?

39. A risk taker who owns a business

40. What is an entrepreneur?

41. Independently owned, not dominating an industry

42. What is a small business?

43. A major source of new products & often more personal service

44. What are economic benefits of the small business?

45. These entities grow food products or take raw materials from nature

46. What are extractors?

47. This business tactic can save workers commuting time and requires less office space for a business

48. What is telecommuting?

49. Limited cash, inexperienced management and a weak economy

50. What are reasons many small businesses fail?

51. A document that details the marketing activities of an organization

52. What is a marketing plan?

53. This acts as a guide used to start and operate a business.

54. What is a business plan?

55. This section covers the form of business, the number of owners and general methods of financing

56. What is the Organization section of a business plan?

57. This section includes promotion, pricing, distribution and the selling of your product

58. What is the marketing activities section of a business plan?

59. Hula hoops cost you $2 to make and you sell them for $4 -you know for kids…

60. How do you calculate your GPU?

61. This financial tool estimates a company’s funds and plans for the spending of those funds

62. What is a budget?

63. Calculated by subtracting liabilities from assets

64. What is your net worth or owners equity?

65. These costs change in proportion to your levels of production

66. What are variable costs?

67. “Units” required to cover your butt and allow your business to continue

68. What is your breakeven point?