Unit 1 Review

An entrepreneur

• is responsible for his or her business success

• works for someone else

• must take college level courses

• must employ more than five employees

By definition, an entrepreneur

• has fewer benefits than an employee

• works in a larger company than an employee

• risks more than an employee

• earns less than an employee

Which of the following is a reward of being an entrepreneur?

• making your own hours

• doing work you enjoy

• acting on your own decisions

• all of the above

Which of the following is not a risk of being an entrepreneur?

• getting fired

• losing time with family

• not making much money

• making a bad business decision

A serial entrepreneur is

• someone who uses money from sale of a business to start another business

• someone who learns from previous successes and failures

• someone who starts more than one business

• all of the above

The classic entrepreneur is one who starts a new business based on an existing concept.

• True

• False

One of the rewards of being an entrepreneur is being able to help your community

• True

• False

Employees typically work longer hours than entrepreneurs.

• True

• False

Long hours and hard work is not a risk of entrepreneurship.

• True

• False

Which of the following is true about American entrepreneurs?

• many work from home

• they work hard

• they are all ages

• all of the above