SS8E2 A

The amount of money an entrepreneur or business earns after paying their expenses

• Soybeans

• Profit

• Capital

• Labor

Which of the following motivates entrepreneurs to accept the risk of failure?

• The ability to earn a profit

• The ability to earn a degree

• The ability to earn materials

• The ability to express creativity

Which is NOT one of the things that entrepreneurs need to focus on while making a business

• How dynamic your business is

• If it is profit-oriented

• If it is fun

Which is NOT one of the factors for production?

• Labor

• Natural Resources/Raw Materials

• Capital

• Factories/Equipment

• Hiring Friends To Work With You

The power of profit does what?

• Creates the ability to buy anything

• Puts you higher on the “money scale” for businesses

• Meet consumers demands and increases your motivation

• Creates skill for you and your workers.

Georgia creates some amazing entrepreneurs. Which person is NOT an actual Georgian entrepreneur.

• Alonzo Herndon

• Ted Turner

• Asa Candler

• Steve Jobs

Is it true that, in order to be an entrepreneur, you have to have no failures.

• Yes

• No

Which is the correct definition for entrepreneur?

• Someone who works under a company

• Someone who took a leap of faith into making their own job

Is it important for entrepreneurs to fail, explain?

• No, entrepreneurs are perfect people who have never made a mistakes in their life.

• No, entrepreneurs are imperfect people who had obstacles in their way.

• Yes, entrepreneurs have never made a mistake in their life.

• Yes, entrepreneurs are normal people who have to overcome obstacles to get to a certain point on their journey.

Is this a correct explanation, if not then explain what they need to change about it.

How is profit an incentive for entrepreneurs?

Profit is the amount of money left from paying your expenses. People need profit to increase their supply and equalize it with the demand. The main focus for entrepreneurs is to look forward to the risks and give up when the come forth.

• The paragraph is fine.

• The paragraph states that profit is the amount of money left from expenses, but it is actually the amount of money you need to operate your business.

• The paragraph states that profit can be used as a motivation for entrepreneurs, when actually it’s the opposite.

• The paragraph states that entrepreneurs focus on the risks and give up when the come to you, but actually they use the risks to motivate themselves and increase their determination.