The Connecting with Small Business Box "Business Has No Age

question 86

Multiple Choice

The Connecting with Small Business box "Business Has No Age Limit",features young people who

• A) directed inheritance money they received into profitable business ventures.
• B) turned a social passion into a business opportunity.
• C) realized the American dream at a very young age,and now run multi-million dollar companies.
• D) convinced banks to fund their business ideas.

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Definitions:

Total Expenditure

The overall amount of money spent by individuals, households, or an economy on goods and services over a specific period of time.

Snob Effect

Negative network externality in which a consumer wishes to own an exclusive or unique good.

Bandwagon Effect

Positive network externality in which a consumer wishes to possess a good in part because others do.

Network Externalities

Benefits or detriments to a product's value that result from the number of users the product has.