Assessment #1 Business IT
What is a variable expense?
An expense that changes month to month.
What is a fixed expense?
An expense that is the same every month.
What should be included in a business plan?
An overview of your business, the problem your business solves, the demands it meets, why investors and consumers should care about your business, how the product or business is different from others, how the product works, ect.
List some characteristics of an entrepreneur.
Hardworking, determined, self-motivated, etc.
What is Medicare?
Health insurance for people over the age of 65.
List examples of needs?
Healthy food, water, items to keep you healthy.
What were the two basic functions that humans used in their lives according to Jung?
How we perceive things and how we respond to them.
What role do entrepreneurs play in economics?
They create the businesses that provide the things that we need.
How did Katharine and Isabel Brigg's contribute to Jung's work?
They included auxiliary functions to personality typing.
Why do indirect competitors matter?
You are competing for the same consumers.
What is take home pay?
The amount left over each month after deductions.
What is net profit?
The amount of money you make or lose.
What is a startup expense?
The expense incurred during the process of creating a business.
What is a Value Proposition?
The features that make the business or product unique.
According to Jung, what is a dominant function?
The function you use the most (Introvert or Extrovert)
What is startup capital?
The money required to start a business.
What is income?
The money you earn from working at a job.
How many personality types are there according to Jung and Briggs?
16
List examples of wants?
Designer shoes, expensive cars, designer clothes. ect.
What were the four preferences that were included in Jung's work on personalities?
Extroversion and Introversion, Sensing and Intuition, Thinking and Feeling, Judging and Perceiving.
What are taxes?
Mandatory payments that you make to state, local, and federal governments.
What are federal taxes?
Payments you make to the U.S government.
What category did Carl Jung's Work focus on?
Personalities
What are some examples of taxes you must pay?
Social security, income, federal income, state taxes, federal taxes, local taxes, ect.
What is an entrepreneur?
Someone who creates and potentially runs their own business.
What are the four parts of a SWOT Analysis?
Strengths, weaknesses, opportunities, and threats.
What is a balanced budget?
When the amount you spend is equal to what you earn.