Introduction to Entrepreneurship

__________________ is someone who assumes the financial risk of beginning and operating one or several businesses.

• Trade

• Opportunity Cost

• Consumer

• Producer

• Entrepreneurship

A creative ________, he was continually dreaming up new projects.

• trader

• merchant

• entreprenuer

• seller

Click on the word that best completes the sentence ...

What kind of business would you start if you could start your own business? Doubtless, it would be a lot of work. You would have to gather all your supplies and materials, use arithmetic to figure out a budget, and perhaps hire people to work for you. You might want to do some advertising. It would be worth all the work, though, if you ended up making ​ (a)   .

• money

• buildings

• clothing

• mistakes

Have you ever made fun of your sister for something girlie? Well, for 13 years old Hart Main, his teasing made him rich. Hart’s sister was selling scented candles for a school fundraiser, and Hart made fun of her girlie scented candles. He joked with her that she needed to create a more manly scent. Hart’s parents thought he had a great idea and encouraged him to begin a business, so he used $100 he had saved from his newspaper route and got started. Hart purchased the supplies online and used old soup cans as candle holders. He named the scents Coffee, New Mitt and Fresh Cut Grass. He decided to name his company ManCan. Interestingly, Hart’s company also helped people in need. He donates the soup inside the cans he uses to local soup kitchens before he cleans and uses them for his candles. His business became so large he had to rent a warehouse and hire five employees to help him run it. By 2011, he sold over 25,000 ManCans.

• were too busy to help him

• believed he had a great idea

• wanted to punish him for making fun of his sister

What is the primary role of an entrepreneur?

• To manage a team

• To assume financial risks

• To work for a company

• To follow instructions

Which of the following best describes an entrepreneur?

• A person who buys goods

• A person who sells goods

• A person who starts a business

• A person who works for a salary

Choose the correct sentence:

• The entrepreneur was success in his venture.

• The entrepreneur was successful in his venture.

• The entrepreneur were successful in his venture.

• The entrepreneur is success in his venture.

Identify the synonym for 'innovative' in the context of entrepreneurship.

• Traditional

• Creative

• Conventional

• Old-fashioned

What is the meaning of 'venture' in the context of entrepreneurship?

• A safe investment

• A risky business undertaking

• A guaranteed profit

• A small business

Which sentence uses the word 'entrepreneur' correctly?

• She is an entrepreneur who loves to follow orders.

• He is an entrepreneur who started his own tech company.

• They are entrepreneurs who prefer to work for others.

• We are entrepreneurs who dislike taking risks.