Business Ownership Midterm- Spring 2023

Entrepreneurship is defined as...

• to handle, direct, govern, or control in action or use:

• to direct (work or workers); supervise; manage:

• the activity of setting up a business or businesses, taking on financial risks in the hope of profit.

• to work, perform, or function, as a machine does:

He is the entrepreneur behind SpaceX and Tesla Motors. His goal is to change the world and improve humanity.

• Dave Ramsey

• Mark Cuban

• Elon Musk

• Jeff Bezos

Which of the following are the benefits of entrepreneurship? Choose all that apply.

• unlimited time off

• create wealth for themselves and others

• the business will provide a personal income and jobs for others

• personal satisfaction that comes from pursuing passions and developing dreams

Entrepreneursare flexible and will refuse to give up edespite obstacles, failures, and discouragement from others.

• True

• False

Entrepreneurs have a steady paycheck.

• True

• False

Entrepreneurs risk their time and money.

• True

• False

Entrepreneurs have more time to do things they enjoy as they dont work long hours.

• True

• False

Entrepreneurs have to work less than other professions.

• True

• False

Entrepreneurs have a negative outlook on the future.

• True

• False

Entrepreneurs are persuasive. They have the ability to persue others of the soundness of their ideas.

• True

• False