The Idea of a Business Plan Is Not New

question 61

True/False

The idea of a business plan is not new.What is new is the growing use of specialized business plans by entrepreneurs,mostly because creditors and investors demand them for use in deciding whether to help finance a small business.

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Definitions:

Government Expenditures

Federal, state, and local government outlays for goods and services, including transfer payments.

Rational Expectations

The economic theory that when making decisions, individuals take into account all available information, including their understanding and predictions of the future.

Economic Well-being

The degree of prosperity, well-being, luxury items, and essential needs accessible to an individual, community, or society.

Economic Behaviorists

Scholars or economists who study the psychological, emotional, and cognitive factors influencing the economic decisions of individuals and institutions.