Bus. Ownership & Entrepreneurship - End of Year Review #1

Front

Over 1/2 of all businesses do not survive beyond four years.

Back

True

Front

Entrepreneurs do not need good teamwork skills, because they are the ones calling the shots.

Back

False

Front

Sometimes a business opportunity arises from a discovery or an invention.

Back

True

Front

If one of your goals as an entrepreneur is to make large sums of money quickly, you almost certainly will be disappointed.

Back

True

Front

The most successful entrepreneurs make decisions based on their intuition or a "gut feeling" about a situation.

Back

False

Front

The problem-solving process is not complete until you evaluate the action, since even a well-thought-out solution may not work.

Back

True

Front

Everyone's wants and needs are the same.

Back

False

Front

Economic wants are the basis of an economy.

Back

True

Front

As entrepreneurs create more goods and services, consumers have fewer wants and needs.

Back

False

Front

Communism is an example of a traditional economy.

Back

False