Sam Has Always Been Interested in Starting His Own Business

question 207

Multiple Choice

Sam has always been interested in starting his own business but, as a recent graduate, is not certain where he can get ideas. Which of the following is a good reliable source for information needed to make the decision to start a new business?

• A) Experience in industry before starting a new business
• B) Parents
• C) Teachers
• D) Bankers
• E) Business analysts

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Definitions:

Incentive

A factor, either monetary or non-monetary, that motivates individuals or firms to act in a certain way.

Plant Manager

An individual responsible for overseeing all aspects of operations, including production, staffing, and quality control, within a manufacturing facility.

Fixed Wage

A set amount of compensation paid to employees, consistent across pay periods, regardless of hours worked or performance levels.

Individual Worker

Pertains to a single employee or laborer considered independently within an economic model, focusing on their productivity, wage, or employment conditions.