Exam 4: The Development of the Global Economy

Nadeem is an engineer with Metro Chemical. He is part of a team that is developing a new additive to help reduce bacteria growth in liquids used in manufacturing processes. Nadeem cannot discuss his team's work with engineers outside the company because he had to sign ________ to ensure that any proprietary information regarding the company would not be made known or shared with the public.

Starbucks is an example of the ________ type of franchise.

One of the disadvantages of owning a corporation is that

"I see an opportunity for my employer" is something that a(n) ________ would say.

A(n) ________ is made up of individuals and companies in a specific business or industry organized to promote common interests.

Which form of business is a relationship between individuals or organizations typically formed by an agreement or contract?

An intrapreneur works inside an existing organization, sees an opportunity for a product or service, and mobilizes the organization's resources to

As a budding entrepreneur interested in starting a business that connects tutors with students, Olivia Franken knows she has a lot to learn before she launches her new venture. A friend of hers has an older sister, Lisa Lamb, a former teacher. Lamb recently became a freelance tutor, meeting regularly with students of all ages who are struggling with math. Franken contacts Lamb and interviews her about the tutoring field. She also asks Lamb's opinion of her new business idea. After their talk, Franken thanks Lamb, saying, "I hope I can come to you in the future for coaching and guidance about the tutoring industry." Lamb responds warmly that she would be glad to serve as Franken's

Unlike a(n) ________ partnership in which partners share profits, liabilities, and management responsibilities, the partners in a(n) ________ partnership contribute an investment but do not have any management responsibility or liability.

An enterprise zone is a facility that offers small businesses low-cost offices with basic services.

A business idea should involve something you are interested in and passionate about solving.

An acquisition occurs when one company ________ another one.

Saul Mousavi worked long hours to rise to the level of middle manager at Inkspot, a print vendor servicing the needs of big local clients, including advertising agencies and colleges. But now that he has started his own print shop, Papyrus Group, he has decided to take it easy and let the business run itself. Mousavi is an example of someone who lacks or needs to strengthen which psychological characteristics of the entrepreneur?

Entrepreneurs that are engaged in brainstorming, experimentation, testing, and user observations are practicing which skill needed for entrepreneurial success?

In an external takeover, an outsider buys enough shares in a company to be able to take control of it against the will of the corporation's top management and directors.

Copyrights protect ownership rights to literary, artistic, and scientific works.

A(n) ________ entrepreneur is suddenly without income and trying to earn it back by starting a business, while a(n) ________ entrepreneur is ambitious and trying to pursue big profits with a new business.

Ashley Cano purchased a bottle of salad dressing that broke apart when she tried to open it. She cut her hand and had to get stitches. Her buyers' rights are protected under ________ laws.

As soon as you start up your small business, you should get a(n) ________ to help you set up your records on sales, expenses, payroll, taxes, and other financial matters.

What is a good question for a would-be entrepreneur to ask to determine if the entrepreneur's solution to a problem is worth pursuing?