B05 - Micro Business for (Ohio) Teens – Part 3
Q.1
Carol Topp, CPA and author, described the three parts of a Business Plan. Which of the items listed is not one of the parts?
Business Concept
Bank Loan Plan
Marketing Plan
Finance Plan
Q.2
According to Ms.Topp, a Business Concept is:
Identifying your potential customers
Realizing you breakeven point
Describing what your business is about
Learning how to take risks
Q.3
Ms. Topp discussed the components of a Marketing Plan. Which of the items listed below is a component of a Marketing Plan?
Identifying potential customers
Identifying your competition
Creating an unique approach for your business
All of the above
Q.4
The video featured Emily who taught ballet lessons from her home. What was unique about her Micro Business?
She taught Christian style ballet at a minimal cost
She taught ballet in her basement
She sold snacks after her classes
She sold dance costumes
Q.5
According to Ms. Topp, startup costs for a Micro Business is most often funded by which of the following?
Bank loan
Venture capitalist
Donation
Savings