T2 Revision Part I

Two or more partners for a business is known as:

• Sole Proprietorship

• partnership

• company

• stock market

A business that has shareholders is known as:

• Sole Proprietorship

• Partnership

• Company

• Stock Market

Dividends are:

• The profits that the family of the owner makes

• Money taken as donations

• Money that’s distributed amongst the shareholder of a company

• HR offerings that are distributed in the company

A company is the hardest form of business to start, however it has a positive outcome:

• It makes a lot of money

• It limits the liabilities the company of the owners

• Increased risk

• You run the business with many people

A type of business where the shareholders are responsible for its debt

• Sole Prop

• Parrtnership

• Company

• Stock Market

If I come up with a new way of importing a certain stock of cotton & introduce that way to the industry, I am a/an __________ entrepreneur

• Innovative entrepreneur

• Adoptive entrepreneur

• Fabian entrepreneur

• Social entrepreneur

When partnering up with a business partner, it’s important to partner with someone that is:

• Very similar to me so we can get along

• Different than me so we can clash

• Different than me so we can complement one another

• It’s best to run my business on my own anyways

I can be an introvert and still network very well

• True

• False

Shifting from on ground stores to e-commerce is an example of mass production

• True

• False

Differentiate between these 3 types of entrepreneurs. What distinguishes each one? Give an example for each :)

- Innovative

- Adoptive

- Fabian