Personal
Finance Unit 1 Exam Review
Things to know:
Business Plan: Be able to list some features of a business plan (important things that need to be included)
Sole Proprietorships: Structure of Sole Proprietorships. Strengths and weaknesses
Partnerships: Difference between General Partnerships and Limited Partnerships. Strengths and weaknesses, be able to describe scenarios for each.
LLCs- Why do we create them? What do they do?
Corporations: Why would businesses incorporate. Strengths and weaknesses. Steps involved in creating
Entrepreneurship: Why is it a valuable asset to a capitalistic society?
Rich Dad Poor Dad: 1st half of Chapter 1 Lessons
Factors of Production- Explain and give examples
Scarcity and Shortage- Explain the difference and give examples
Business Plan: Be able to list some features of a business plan (important things that need to be included)
Sole Proprietorships: Structure of Sole Proprietorships. Strengths and weaknesses
Partnerships: Difference between General Partnerships and Limited Partnerships. Strengths and weaknesses, be able to describe scenarios for each.
LLCs- Why do we create them? What do they do?
Corporations: Why would businesses incorporate. Strengths and weaknesses. Steps involved in creating
Entrepreneurship: Why is it a valuable asset to a capitalistic society?
Rich Dad Poor Dad: 1st half of Chapter 1 Lessons
Factors of Production- Explain and give examples
Scarcity and Shortage- Explain the difference and give examples
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