Entrepreneurship Vocabulary

An entrepreneur is

• a chief executive officer

• an investor

• a person that wants to start a business

• someone who creates and runs their own business

Business Plan

• Appears first but is written last and summarizes the rest of the document.

• A formal statement of a set of business goals, the reasons why the goals are believed attainable.

Executive Summary

• Appears first but is written last and summarizes the rest of the document.

• Aformal statement of a set of business goals, the reasons why the goals are believed attainable.

One person who owns and operates their own business is called a

• Partner
• Marketing Agent
• (Sole) Proprietor
• Retailer

The act of assuming the risk of organizing productive resources to produce goods and services.

• business
• critical thinking
• entrepreneurship
• risk management

Which one of these is NOT a characteristic of an entrepreneur?

• risk taker
• idea person
• generalist
• specialist

Who created Facebook?

• Mark Zuckerberg
• Elon Musk
• JK Rowling
• Walt Disney

Business entity with two or more owners that share the company's profits and losses.

• proprietorship
• partnership
• limited liability company
• corporation

Business entity that is usually owned by multiple stockholders and operates as a separate legal entity.

• proprietorship
• partnership
• limited liability company
• corporation

Any reward or benefit that motivates people to do something.

• incentive
• money
• bonus
• financial gain