The Entrepreneurial Process in the Start-Up Process Model Begins with ______

question 5

Multiple Choice

The entrepreneurial process in the start-up process model begins with ______.

• A) a visit to the local banker for start-up funds
• B) a visit to the local library for more information on the business
• C) a visit to a favorite business professor for advice
• D) an innovative idea that is refined as the idea is thought through

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Definitions:

Rule Of 70

A method used to estimate the number of years it will take for a variable to double, calculated by dividing 70 by the annual growth rate.

Interest Rate

The proportion of a specified sum that is added as a charge for borrowing it, usually stated as an annual rate.

Utility Function

A mathematical representation describing how a consumer ranks different bundles of goods according to levels of satisfaction.

Risk Averse

A preference for guaranteed outcomes over those with uncertainty, even if the uncertain outcomes might offer a higher expected return.