Markets Exist

question 97

Multiple Choice

Markets exist

• A) so people can buy and sell things.
• B) because people are self-sufficient.
• C) because each person specializes in the production of many products.
• D) as an arrangement where buyers do not interact with sellers.

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Definitions:

Timmons Model

A model of entrepreneurship that emphasizes the importance of opportunity, team, and resources, and how they are balanced and fit together.

Entrepreneurial Process

The sequence of steps and stages that an individual or team undergoes in launching and establishing a new business venture, from conception to realization.

Balancing Act

The effort to maintain stability between different forces, demands, or aspects in a situation.

Sustainable Venture

A business endeavor designed to operate while keeping environmental, social, and financial viability in mind, ensuring long-term resilience and success.