

Exploring Entrepreneurship Concepts and Practices
Flashcard
•
Business
•
12th Grade
•
Practice Problem
•
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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