Which of the Following Is True About the Preparation of a Business

question 28

Multiple Choice

Which of the following is true about the preparation of a business plan?

• A)The format should follow a "cookie-cutter" approach to ensure uniformity and consistency with others and to promote ease of understanding.
• B)The elements of the plan may be standard,but the content should reflect the unique aspects of the business and the excitement of the entrepreneur.
• C)The plan should cover every standard element in great detail and be at least 100 pages long to prove to potential lenders and investors that the entrepreneur has studied the business and the market opportunity.
• D)Entrepreneur should avoid seeking the advice of professionals,such as accountants,business professors,and attorneys.

Apply the theory of comparative advantage to solve problems related to international trade.

Understand and calculate terms of trade and its significance in international trade agreements.

Distinguish between the roles of comparative advantage and absolute advantage in international specialization and trade.

Recognize the contributions of key economists to the theory of comparative advantage.

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Definitions:

Detection

The act or process of discovering or identifying the existence of a particular object, signal, or condition.

Interpretation

In psychoanalysis, the analyst’s noting supposed dream meanings, resistances, and other significant behaviors and events in order to promote insight.

Psychophysicist

A scientist who studies the relationship between the physical properties of stimuli and the sensations and perceptions they evoke.

Wavelength

The distance from the peak of one light or sound wave to the peak of the next. Electromagnetic wavelengths vary from the short blips of cosmic rays to the long pulses of radio transmission.