The Success of Entrepreneurial Venture Is Often Jeopardized by the Death

question 2

Multiple Choice

The success of entrepreneurial venture is often jeopardized by the death of the founder. Which of the following is an important measure to minimize this problem?

• A) Conservative use of funds
• B) Succession planning
• C) Record keeping
• D) Decreased delegation
• E) Going public

Learn effective strategies for highlighting past experiences and achievements in a résumé.

Know the best practices for managing and presenting references and contact information.

Understand how to incorporate design elements and strategies to enhance résumé readability and impact.

Grasp the importance of supplementary documents or elements (e.g., cover letters, social media résumés) in the job application process.

---

Definitions:

Perfectly Competitive

A perfectly competitive market is characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to price determination by market forces.

Marginal Cost Curve

A graphical representation that shows how the cost of producing one more unit of a good changes as the quantity produced increases.

Short-run Supply Curve

A graphical depiction that showcases how much of a product suppliers are willing and able to sell at different prices in the short run, with at least one input fixed.

Perfectly Competitive Industry

An industry characterized by many small firms producing identical products, with free entry and exit, and perfect information, leading to prices being determined by the market.