Review-Entreprenuership - 1st-Semester-Final

Front

What is the definition of an entrepreneur?

Back

Someone who creates, owns, and potentially runs a business

Front

An example of an asset is: time, money, a car, all of the above

Back

all of the above

Front

Which of the following is NOT a true statement about business plans?
- They should never be revised.
- They can help lower the risk of starting a new business.
- They are created before starting a business.
- They include an overview of your business goals and how you think you are going to achieve them.

Back

They should never be revised.

Front

Which of the following is an advantage of starting your own business? During start-up, you do not have to think about funding., You are in charge of the decision-making so there is little to no risk., You have control over where and when you work., As long as you make a business plan, you will know what obstacles to expect.

Back

You have control over where and when you work.

Front

What is the main difference between a personal characteristic and a skill?

Back

Skills can be learned and developed while personal characteristics are inherent qualities within.

Front

Which one of these is NOT considered a skill? Determination skills, People skills, Business skills, Communication skills

Back

Determination skills

Front

What role do entrepreneurs play in economics?

Back

Entrepreneurs create the businesses that produce products and services that meet the wants and needs of consumers.

Front

How a business communicates to large numbers of customers, motivating them to learn more about the business and its offerings. Ex: advertising

Back

Marketing

Front

Proper business behavior beyond complying with legal requirements.

Back

Business Ethics

Front

The practice of operating openly and communicating fully, providing stakeholders with a clear understanding of how your enterprise operates.

Back

Transparency