1. Define small business. How, if at all, does this differ from what you would have expected the definition to be?
2. Explain how profit works as a signal to the entrepreneur.
3. It will probably take about three months for your business to start earning a profit. Do you agree or disagree? Why? If you disagree, how long do you expect it to take? What are the three most important factors in determining the time frame?
4. Summarize three facts about capitalism.