Quick Quiz Battle - Domain 1

Entrepreneurs are willing to explore new opportunites and unknown _____.

• Risks

• Finances

• Opportunites

• Chances

Select the trait of an Entrepreneur.

• Empathy

• Charming

• Compassionate

• Understanding

• Positive Attiude

What sets small businesses owner apart from the entrepreneur?

• Entrepreneurs are not always interested in taking on new business opportunites.

• Small business owners' key objective is to generate profit.

• Small business owners are willing to take on risks.

• Entrepreneurs tend to have a passion for one business

What is the first stage in the business life cycle?

• Existence

• Survival

• Success

• Take off

Which business is ideal for a Company seeking limited liability protection, special taxation advantage, and can only have 100 shareholders?

• S Corporation

• Sole Proprietorship

• C Corporation

• Non-Profit

What is the correct order of the design thinking process?

• empathize, define, ideate, prototype, exit

• empathize, define, ideate, prototype, test

• equity, define, ideate, prototype, exit

• empathize, define, MVP, prototype, exit

What is the term for valuable information that is kept confidential within a business to give it a competitive advantage?

• Trademark
• Trade Secret
• Copyright
• Patent

What is the main purpose of a business plan?

• To limit growth potential
• To predict the future
• To secure funding
• To outline personal goals

In which stage of the business life cycle does a business decide if they should continue to grow into a large company or start a new project?

• Success Stage
• Take Off Stage
• Pivot or Persist Stage
• Resource Maturity Stage

What is a value proposition?

• A statement that explains to customers why they should do business with a company

• A statement that explains the estimated value of a company

• A statement that explains the estimated value of a product or service

• A statement that explains to investors why these should do business with a company