Entrepreneurship

Who would NOT be considered an entrepreneur?

• A doctor who starts their own practice

• A doctor who works at a hospital

• A doctor who wrote a book in their spare time

Which trait or characteristic would describe a successful entrepreneur?

• Lazy

• Shy

• Bossy

• Self Starter

What is a corporation?

• A business owned by one person

• A business owned by many people

• A business owned by at least two people

Which of these is NOT a reward of entrepreneurship?

• Being the boss

• Risking financial resources

• Doing what you enjoy

Which type of business operates and advertises on the internet?

• Small Business

• Partnership

• Virtual Business/Dot-Com Company

• Corporation

Why do entrepreneurs have trouble obtaining money to start their own business?

• Banks don't offer loans to entrepreneurs

• Banks are concerned about entrepreneurs repaying their loan

• Banks only want to loan money to large corporations

What's the purpose of the Small Business Administration?

• They protect the interests of sole proprietorships, partnerships, and other small businesses.

• They protect the interests of corporations.

• They protect over 50% of the U.S. workforce.

What three characteristics make up a small business?

• They serve a limited geographic area.

• They frequently advertise on television.

• They employ fewer than 500 people.

• They are independently owned by someone who also serves as manager.

What are the responsibilities of an entrepreneur?

• They assume risk.

• They recognize an opportunity.

• They test their product or service in a local market.

• They gather the resources they need to go into business.

• All of the above.

What's the name of a new business undertaking that involves risk?

• Virtual Business

• Venture

• Small Business