entrepreneurship

Which of the following are characteristics of successful entrepreneurs?

• Creative, work hard, self-confident

• Goal-oriented, highly motivated to succeed

• High energy levels, strong desire to have control

• All of the above

The 3 basic ways to start a business are to?

• analyze the competition, buy a building, or join a professional association
• buy an existing business, buy a franchise, start a business from scratch
• work for parents, get ideas from friends, join chamber of commerce
• All of the Answers

Why do people start thier own business?

• To be their own boss

• Flexibility

• Achieving their dreams

• All of the above

What do we call a person who starts a business?

• Entrepreneur

• Enterprise

• Entreposuer

• Extraposer

When starting a business and becoming an entrepreneur, income is often irregular, this is seen as a(n)....

• Advantage

• Disadvantage

Many entrepreneurs have to take out a loan which is...

• Money earned from a start up company.

• Money borrowed from a bank or other source, with the expectation that the money will be repaid with interest.

• Money borrowed from a bank or other source, with the expectation that the money will not be repaid.

• Money lent to entrepreneurs to start up new businesses.

A ________________ is a written document that describes the business and how it will operate.

• Spending plan

• Business plan

• sole proprietor

• Loan

The section of the business plan that describes product, place, price, and promotion is the _________.

• executive summary

• sole proprietorship

• marketing plan

• customers

What does it mean to distinguish your business from competitors by offering distinct goods, services, or prices?

• SWOT analysis

• differentiate

__________________, is an intangible (nonphysical) offering that you provide to customers.

• price

• service