Entrepreneurship--Lesson 1-1 Slides

Multiple Choice

Which of the following best describes an entrepreneur?

• Someone who manages someone else's business

• Someone who owns, operates, and takes the risk of a business venture

• Someone who works as an employee in a company

• Someone who invests money in stocks

Multiple Choice

Which of the following best describes the main difference between employees and entrepreneurs?

• Entrepreneurs work for someone else, employees assume risk.

• Entrepreneurs assume risk, employees work for someone else.

• Employees make decisions, entrepreneurs follow orders.

• Employees are affected by consequences, entrepreneurs are not.

Multiple Select

Which of the following are main types of entrepreneurial businesses?

• Manufacturing businesses

• Retailing businesses

• Service businesses

• Mining and extracting businesses

Multiple Choice

Recognizing an opportunity is important for entrepreneurs. What are the two steps involved in recognizing opportunity according to the lesson?

• Recognize an opportunity and respond to that opportunity

• Create a product and sell it

• Hire employees and expand the business

• Take risks and earn profits

Multiple Choice

Which of the following statements best describes the proportion of small businesses in the United States in 2008?

• Small businesses represented less than half of all U.S. businesses.

• Small businesses represented 99.9 percent of all U.S. businesses.

• Large businesses represented the majority of U.S. businesses.

• Small businesses represented 50 percent of all U.S. businesses.

Multiple Select

Which of the following companies are mentioned as examples of entrepreneurs who changed America?

• Starbucks Coffee Company

• The Home Depot

• HARPO Productions, Inc.

• Amazon

Multiple Choice

Which of the following is NOT listed as a major factor in a firm's success?

• Adequate capital

• Owner's business experience

• Location of the business

• Owner's education level

Multiple Choice

Entrepreneurs are people who own, operate, and take the risk of a business venture. What is the term used to describe the process of running a business of one's own?

• Management

• Entrepreneurship

• Investment

• Leadership

Dropdown

A person who identifies a need and starts a business to fill that void; the persistent progression toward an innovative solution to a key problem. Example Owners: Barbers who open their ​ shop, startups, music recording companies, mobile app developers, clothing designers ​ ​

Select answer

Drag and Drop

An Entrepreneur is someone who ​

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Drag these tiles and drop them in the correct blank above

creates, owns, and may run a business.

makes a profit from a business.

manages a business.

Dropdown

​

Select answer

is a person who organizes, manages, and takes on the risks of a business.  A person who starts their own business.

Drag and Drop

Two personal motivations for starting a business are the desire for ​

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and to make a ​

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,

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independence

profit

to fulfil a social need

meeting a market need

money/wealth

difference in society