What is the primary role of an entrepreneur in business creation?
PFL Review 4.23-4.24

Flashcard
•
Social Studies
•
11th Grade
•
Hard
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40 questions
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1.
FLASHCARD QUESTION
Front
Back
Creating innovative business solutions and opportunities
2.
FLASHCARD QUESTION
Front
Which factor best describes how entrepreneurs primarily earn income?
Back
Through business profits and ownership returns
3.
FLASHCARD QUESTION
Front
When comparing self-employment to traditional employment, which statement is most accurate? Self-employed individuals always earn more than employees, Employees have more tax obligations than self-employed individuals, Self-employed individuals must handle their own benefits and tax obligations, Traditional employment offers more flexibility than self-employment
Back
Self-employed individuals must handle their own benefits and tax obligations
4.
FLASHCARD QUESTION
Front
Which federal agency provides support for small business creation?
Back
Small Business Administration (SBA)
5.
FLASHCARD QUESTION
Front
What is a key characteristic of a sole proprietorship?
Back
Complete personal liability for business debts
6.
FLASHCARD QUESTION
Front
Which business structure typically requires the most complex regulatory compliance? Options: Sole proprietorship, Partnership, Corporation, Independent contractor
Back
Corporation
7.
FLASHCARD QUESTION
Front
What is a primary advantage of purchasing a franchise?
Back
Lower initial investment costs
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