Exploring Entrepreneurship Concepts and Practices

Exploring Entrepreneurship Concepts and Practices

Assessment

Flashcard

Business

12th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

Which of the following best describes an entrepreneur?

Back

An individual who starts a business to solve a problem or meet a need.

2.

FLASHCARD QUESTION

Front

What is a key feature of a small business?

Back

It often serves a local or niche market

3.

FLASHCARD QUESTION

Front

Which of the following is an advantage of business ownership? Guaranteed financial success, Autonomy and control over decision-making, Minimal responsibility, Fixed working hours

Back

Autonomy and control over decision-making

4.

FLASHCARD QUESTION

Front

What is a disadvantage of business ownership?

Back

Financial risk

5.

FLASHCARD QUESTION

Front

Which element of a business plan provides a brief overview of the entire plan? Options: Vision and Mission Statement, Marketing Plan, Financial Plan

Back

Executive Summary

6.

FLASHCARD QUESTION

Front

What is a characteristic of a lifestyle business?

Back

Prioritizes work-life balance

7.

FLASHCARD QUESTION

Front

Which type of business structure is owned by one person?

Back

Sole Proprietorship

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