EOPA ENTREPRENEURSHIP Study Set
Questions and Answers 100% Accurate
Latest Versions 2025 Graded A+
presentation software - correct answer -a.k.a. Microsoft PowerPoint
Accounts Payable - correct answer -An unpaid balance of money owed by your business, generally
referring to amounts owed for inventory,supplies, and other such ongoing expenses.
Accounts Receivable - correct answer -An unpaid balance of money owed to your business by customer
accounts
Annual Work Plan - correct answer -A detailed document which is the result of operational
planning.Highlights from this plan are included in the business plan
assets - correct answer -Any items of value owned; items on the balance sheet that reflect value owned
include cash, accounts receivable, notes receivable, property and property rights.
Barter - correct answer -The direct trading of goods and services between people without the use of
money
Bottom Line - correct answer -The last lineof a financial statement used to show net profit or loss
Brainstorming - correct answer -A creative problem-solving activity that helps create possibilities to
address problems or challenges. Thinking of as many and different answers is important and no
responses should be
questioned during the activity of Brainstorming
Brand - correct answer -A name or symbol that represents a product.
,Capital Resources - correct answer -Goods made by people and used to produce other goods and
services (also called intermediate goods)
Cash Flow - correct answer -The movement or flow of cash in and cash out of a business
Circular Flow - correct answer -A model of an economy showing the interactions between households
and business firms as they exchange goods and services and resources in markets.
Citizen - correct answer -Member of a nation
Civic - correct answer -Of a city or citizen.
Collateral: - correct answer -The assets pledged to a lender to secure or support a loan.
Common Law Rights - correct answer -Common law is law that was developed over centuries and based
on custom and judicial opinions, as opposed to legislative acts.
Commerce - correct answer -Trade between states or nations.
Competition - correct answer -Techniques used by businesses to gain more customers and to earn
higher profits.
Consumers - correct answer -People whose wants are satisfied by using goods and services
Contract - correct answer -A formal agreement or a promise or set of promises between two or more
parties that is legally enforceable.
,Copyright - correct answer -The exclusive right to reproduce, sell, publish, or distribute literary or
artistic work; i.e., works of authors, composers, etc. Copyright does not protect the idea itself or the
information
itself. It protects the form or manner in which the idea or information is proposed.
Corporate Mission - correct answer -A broad statement of what business or businesses the company
should be in.
Cost of Production - correct answer -All resources used in producing goods and services for which
owners receive payment
Counterfeiting - correct answer -Copying another's work without permission and passing off the copy as
an original. A counterfeit is an imitation, fake or "knock-off.
Culture - correct answer -The implied beliefs, norms, values, and customs that define a society. Culture
leads to common patterns of behavior. Like countries, businesses can have cultures also.
Currency - correct answer -Paper money issued by the government.
Cyberspace - correct answer -A link between computers with modems to access the World Wide Web.
Decision Maker - correct answer -The individual in a family or business who is ultimately responsible for
the final selection of a product or service
Demand - correct answer -A schedule of how much consumers are willing and able to buy
at all possible prices during some time period.
Demographics: - correct answer -The statisticalstudy of population characteristics. Demographics can
also refer to a list of objective characteristics about an individual consumer like age, income, occupation,
marital status, education, or location.
, Deposit - correct answer -To put money in a bank or other financial institution
Depreciation - correct answer -The portion of the cost of tangible operating assets, such as
buildings or equipment, recorded as expense for the accounting
period; results from spreading out the cost of long-lived assets
over several years.
Depression: - correct answer -A time of economic crisis or bad times in commerce, finance,
and industry, characterized by falling prices, restriction of credit,
low output and investment, many bankruptcies and a high level
of unemployment (many people without jobs). A less severe
crisis is usually known as a recession.
Design - correct answer -An outline, sketch or plan in the form and structure of a product
to be created or constructed.
Distribution - correct answer -The supplying of goods and services to retailers and others so
that people's needs can be met.
Dividends - correct answer -A share of profits paid to stockholders of a corporation.
Economic Systems - correct answer -The way a society organizes the production, consumption and
distribution of goods and services.
Economics - correct answer -The study of choice and decision-making in a world with limited
resources.
Equilibrium Price: - correct answer -The market clearing price at which the quantity demanded by
Questions and Answers 100% Accurate
Latest Versions 2025 Graded A+
presentation software - correct answer -a.k.a. Microsoft PowerPoint
Accounts Payable - correct answer -An unpaid balance of money owed by your business, generally
referring to amounts owed for inventory,supplies, and other such ongoing expenses.
Accounts Receivable - correct answer -An unpaid balance of money owed to your business by customer
accounts
Annual Work Plan - correct answer -A detailed document which is the result of operational
planning.Highlights from this plan are included in the business plan
assets - correct answer -Any items of value owned; items on the balance sheet that reflect value owned
include cash, accounts receivable, notes receivable, property and property rights.
Barter - correct answer -The direct trading of goods and services between people without the use of
money
Bottom Line - correct answer -The last lineof a financial statement used to show net profit or loss
Brainstorming - correct answer -A creative problem-solving activity that helps create possibilities to
address problems or challenges. Thinking of as many and different answers is important and no
responses should be
questioned during the activity of Brainstorming
Brand - correct answer -A name or symbol that represents a product.
,Capital Resources - correct answer -Goods made by people and used to produce other goods and
services (also called intermediate goods)
Cash Flow - correct answer -The movement or flow of cash in and cash out of a business
Circular Flow - correct answer -A model of an economy showing the interactions between households
and business firms as they exchange goods and services and resources in markets.
Citizen - correct answer -Member of a nation
Civic - correct answer -Of a city or citizen.
Collateral: - correct answer -The assets pledged to a lender to secure or support a loan.
Common Law Rights - correct answer -Common law is law that was developed over centuries and based
on custom and judicial opinions, as opposed to legislative acts.
Commerce - correct answer -Trade between states or nations.
Competition - correct answer -Techniques used by businesses to gain more customers and to earn
higher profits.
Consumers - correct answer -People whose wants are satisfied by using goods and services
Contract - correct answer -A formal agreement or a promise or set of promises between two or more
parties that is legally enforceable.
,Copyright - correct answer -The exclusive right to reproduce, sell, publish, or distribute literary or
artistic work; i.e., works of authors, composers, etc. Copyright does not protect the idea itself or the
information
itself. It protects the form or manner in which the idea or information is proposed.
Corporate Mission - correct answer -A broad statement of what business or businesses the company
should be in.
Cost of Production - correct answer -All resources used in producing goods and services for which
owners receive payment
Counterfeiting - correct answer -Copying another's work without permission and passing off the copy as
an original. A counterfeit is an imitation, fake or "knock-off.
Culture - correct answer -The implied beliefs, norms, values, and customs that define a society. Culture
leads to common patterns of behavior. Like countries, businesses can have cultures also.
Currency - correct answer -Paper money issued by the government.
Cyberspace - correct answer -A link between computers with modems to access the World Wide Web.
Decision Maker - correct answer -The individual in a family or business who is ultimately responsible for
the final selection of a product or service
Demand - correct answer -A schedule of how much consumers are willing and able to buy
at all possible prices during some time period.
Demographics: - correct answer -The statisticalstudy of population characteristics. Demographics can
also refer to a list of objective characteristics about an individual consumer like age, income, occupation,
marital status, education, or location.
, Deposit - correct answer -To put money in a bank or other financial institution
Depreciation - correct answer -The portion of the cost of tangible operating assets, such as
buildings or equipment, recorded as expense for the accounting
period; results from spreading out the cost of long-lived assets
over several years.
Depression: - correct answer -A time of economic crisis or bad times in commerce, finance,
and industry, characterized by falling prices, restriction of credit,
low output and investment, many bankruptcies and a high level
of unemployment (many people without jobs). A less severe
crisis is usually known as a recession.
Design - correct answer -An outline, sketch or plan in the form and structure of a product
to be created or constructed.
Distribution - correct answer -The supplying of goods and services to retailers and others so
that people's needs can be met.
Dividends - correct answer -A share of profits paid to stockholders of a corporation.
Economic Systems - correct answer -The way a society organizes the production, consumption and
distribution of goods and services.
Economics - correct answer -The study of choice and decision-making in a world with limited
resources.
Equilibrium Price: - correct answer -The market clearing price at which the quantity demanded by
