DECA entrepreneurship test questions
and answers already passed
Define SBA and list 3 ways they help small business ✔✔The small business administration
provides federal aid to small businesses. This is through education, grants, and loan guarantees.
2 reasons why Entrepreneurship is growing ✔✔Corporate downsizing, need for dual incomes,
global economy, government support, technology and the internet
How is outsourcing leading to new industries ✔✔It creates the opportunity to create a company
that can preform a specific job for a company at a reduced cost to the company. For instance
Janaking providing janitorial services to big companies or the food service at our school
Define global economy ✔✔Doing business around the world. This is now easier than ever before
Difference between public and private businesses ✔✔Government jobs like teachers police and
government employees. Private jobs are corporate america jobs through entrepreneurs.
, Importance of entrepreneurship ✔✔Small businesses employ over 50% of all private sector
employees. It accounts for over 45% of private sector payroll. 97% of exports from small
businesses and 60-805 of all new jobs over past 10 years
What is a trade deficit ✔✔When a company imports more than it exports
Define brick and Mortar ✔✔A business' physical location
What does scaling a business mean ✔✔Growing it
Difference between an idea and opportunity ✔✔An idea is a thought while an opportunity is an
idea with commercial potential
Define revenue stream ✔✔A companies source of income
Define business model ✔✔How the company makes money or what the company does
and answers already passed
Define SBA and list 3 ways they help small business ✔✔The small business administration
provides federal aid to small businesses. This is through education, grants, and loan guarantees.
2 reasons why Entrepreneurship is growing ✔✔Corporate downsizing, need for dual incomes,
global economy, government support, technology and the internet
How is outsourcing leading to new industries ✔✔It creates the opportunity to create a company
that can preform a specific job for a company at a reduced cost to the company. For instance
Janaking providing janitorial services to big companies or the food service at our school
Define global economy ✔✔Doing business around the world. This is now easier than ever before
Difference between public and private businesses ✔✔Government jobs like teachers police and
government employees. Private jobs are corporate america jobs through entrepreneurs.
, Importance of entrepreneurship ✔✔Small businesses employ over 50% of all private sector
employees. It accounts for over 45% of private sector payroll. 97% of exports from small
businesses and 60-805 of all new jobs over past 10 years
What is a trade deficit ✔✔When a company imports more than it exports
Define brick and Mortar ✔✔A business' physical location
What does scaling a business mean ✔✔Growing it
Difference between an idea and opportunity ✔✔An idea is a thought while an opportunity is an
idea with commercial potential
Define revenue stream ✔✔A companies source of income
Define business model ✔✔How the company makes money or what the company does
