Entrepreneurship Basics Flashcard

Front

Which of the following best defines an entrepreneur?

Back

A person who owns, operates, and takes on the risk of a business.

Front

Which type of business involves selling stuff directly to the customer?

Back

Retailing

Front

What is a key reason why businesses succeed?

Back

Having enough money to start (capital) and solid business knowledge

Front

Which of the following is NOT a top trait of an entrepreneur?
- Prefers to avoid hard work
- Independent
- Goal-Oriented
- Creative

Back

Prefers to avoid hard work

Front

A business that makes products like cars or computers falls under which category?

Back

Manufacturing

Front

If a business owner runs out of money and does not have help, what is likely to happen?

Back

The business may fail.

Front

Which trait helps an entrepreneur keep going when things get tough?

Back

Determined & Persistent

Front

Explain why having a strong work ethic is important for an entrepreneur.

Back

It helps entrepreneurs work hard and not be afraid of challenges.

Front

A business that buys products in bulk from manufacturers to sell to other businesses is called:

Back

Wholesaling

Front

Describe a scenario where creativity could help an entrepreneur succeed.

Back

Finding new ways to solve customer problems or improve products.