Zack Is Developing a Business Plan for the Restaurant He

question 34

Multiple Choice

Zack is developing a business plan for the restaurant he plans to start.He is working on the section of the plan that describes the types of cuisine and new dishes that will make up the menu.Which of the following sections of a start-up business plan is Zack working on in the given example?

• A)Executive summary
• B)Concept of the venture
• C)Long-term goals
• D)Discussion of operational plans

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Definitions:

Goods

Tangible products that are manufactured, bought, or sold, fulfilling the needs or desires of consumers.

Choices

The act of selecting between two or more possibilities or options in a decision-making process.

Rationing

Allocating a limited supply of a good or resource among people who would like to have more of it. When price performs the rationing function, the good or resource is allocated to those willing to give up the most “other things” in order to get it.

Scarcity

The essential economic dilemma revolves around the vastness of human aspirations contrasted with the limitations of available resources.