14.6: Review Questions
What types of tangible, intangible, and funding resources exist? Give examples of each.
2 .What is an example of a tangible resource and an intangible resource?
3 .What is the PEST tool? How can entrepreneurs use it to their advantage before launching a business?
4 .Why is it important to figure out costs before launching a business?
5 .What are examples of costs that must be taken into consideration before opening a business?
6 .What is the difference between one-time costs and monthly costs? How much should an entrepreneur have of monthly costs in advance?
7 .Define the resource dependence theory.
8 .What is the life cycle of a business and how do resource needs and their associate costs shift over time?