8th AKS 50 Entrepreneurs and Risks

8th AKS 50 Entrepreneurs and Risks

Multiple Choice

Which describes a consumer? Page 106

• a person or company who buys a good or a service

• a person or company who makes a good or a service

• a person or company who knows how to earn a profit

• a person who owns private property, such as a house or car

Multiple Choice

Why do entrepreneurs take risks to open businesses? Page 117

• They believe that their ideas for businesses can make money.

• They believe that they will not lose any money if their businesses fail.

• They know that their ideas are too good to fail.

• They know that banks will always lend them more money if they need it.

Multiple Choice

The difference between a business’s total sales and the business’s total expenses, page 116

• producer

• advertising

• profit

• division of labor

Multiple Choice

It is the act of creating a business or businesses.

• Entrepreneur

• Manager

• Entrepreneurship

• Innovation