Entrepreneurship Flashcard

Front

Which of the following best describes an entrepreneur? Someone who invests in the stock market, A person who works for a corporation, A person who starts and manages a business, A person who manages an office

Back

A person who starts and manages a business

Front

Which of the following is not a characteristic of successful entrepreneurs? Risk-averse, Creative, Self-motivated, Goal-oriented

Back

Risk-averse

Front

The process of creating and managing a business to achieve desired objectives is called:

Back

Entrepreneurship

Front

What is a feature of a product?

Back

Its color or design

Front

A benefit of a water bottle that is insulated is:

Back

It keeps your drink cold

Front

Which of the following is part of the marketing mix? Options: People, Ideas, Technology, Environment

Back

People

Front

Which of these is an example of promotion? Options: Setting a price, A social media ad, Deciding where to sell, Creating a prototype

Back

A social media ad

Front

Which of the following best describes a target market? Everyone who has money, All teenagers, A company's competitors

Back

A specific group of people a business aims to serve

Front

Which term describes when a business sets itself apart from competitors?

Back

Differentiation

Front

A common reason businesses fail is: Too many employees, Too much success, Lack of market need, Charging high prices

Back

Lack of market need