John, James, and Frank Wanted to Open J₂F Sports Bar

question 128

Multiple Choice

John, James, and Frank wanted to open J₂F Sports Bar that offers unique brands of beer, weekend entertainment, and a limited menu. In one of the preliminary meetings, James presented a list of reasons that small businesses fail. Although many of the ideas on this list were applicable to many types of business, one challenge pertained specifically to the restaurant and bar business. The challenge he referred to was:

• A) underestimating how much time it will take to build a market.
• B) borrowing money without planning just how and when to pay it back.
• C) carrying habits of personal extravagance into the business.
• D) some of the easiest businesses to start have the least growth prospects and greatest failure rates.

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Definitions:

Social Inequality

Within a community or society, inequities in opportunities and rewards exist for different social standings or positions.

Agricultural Societies

Societies primarily engaged in farming and the cultivation of land as their main source of livelihood.

Plow Technology

Agricultural tools and techniques related to the plow, a farming implement used for tilling soil, making it ready for sowing seeds.

First Past

A term often used in the context of elections, typically referring to a "first-past-the-post" system where the candidate with the most votes wins, irrespective of whether a majority is achieved.