What is the definition of entrepreneurship?

Business Foundations Exam Prep

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Business
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12th Grade
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1.
FLASHCARD QUESTION
Front
Back
The activity of setting up a business or businesses, taking on financial risks in the hope of profit.
2.
FLASHCARD QUESTION
Front
What are the key characteristics of a successful entrepreneur?
Back
Passion, perseverance, creativity, adaptability, risk-taking, and strong leadership skills.
3.
FLASHCARD QUESTION
Front
What is the marketing mix?
Back
The marketing mix is a set of controllable marketing tools used to achieve marketing objectives.
4.
FLASHCARD QUESTION
Front
What are the different types of marketing strategies? Options: social media marketing, content marketing, email marketing, influencer marketing, SEO, SEM, affiliate marketing, viral marketing, telemarketing, direct marketing, print marketing, radio marketing, word-of-mouth marketing, guerilla marketing, experiential marketing, event marketing, door-to-door marketing, billboard marketing, TV marketing, radio marketing
Back
social media marketing, content marketing, email marketing, influencer marketing, SEO, SEM, affiliate marketing, viral marketing
5.
FLASHCARD QUESTION
Front
What is the difference between marketing and advertising?
Back
Marketing is a broader term that includes all activities involved in identifying customer needs and satisfying them. Advertising is a subset of marketing that involves promoting a product or service through various channels such as TV, radio, print, online, etc.
6.
FLASHCARD QUESTION
Front
What is the importance of financial management in business?
Back
Financial management is important in business because it helps in making informed decisions, managing cash flow, allocating resources effectively, and achieving financial goals.
7.
FLASHCARD QUESTION
Front
What are the different sources of financing for a business? Options: credit cards, donations, inheritance, lottery winnings; personal savings, loans, venture capital, angel investors, crowdfunding, grants, government programs; gambling, crowdfunding, scholarships, subsidies; bartering, sponsorship, stock market, insurance
Back
personal savings, loans, venture capital, angel investors, crowdfunding, grants, government programs
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