Entrepreneurship

A person who organizes and then runs a business is a(n):

• Venture Capitalist

• Entrepreneur

• Enterprise

An enterprise is:

• A business or a company

• A person who organizes and then runs a business

• an estimate of what the company is worth

• big stores; business that sells goods to the public

Which of the following is NOT an advantage of entrepreneurship?

• Leads to good income

• Great job satisfaction

• Long hours

• You are in charge

Which of the following is NOT a disadvantage of entrepreneurship?

• Financial risks

• Long hours

• No guarantees of success

• Leads to good income

All of the following are traits of entrepreneurs EXCEPT:

• Lazy

• Motivation

• Sight and foresight

• Decision making

Traits are characteristics of workers.

• True

• False

All of the following are ways to go into business except:

• Start a new business

• Buying an existing business

• Buying a franchise

• Sell concessions

Starting a new business from scratch requires more time and effort than buying an existing business.

• True

• False

You do not inherit the previous owner’s mistakes or poor reputation if you

• Buy an existing business

• Start a new business

• Join a family business

• Buy a franchise

You can save on start up costs by taking advantage of the previous owner’s business agreements, such as lease if you

• Start a new business

• Join a Family business

• Buy a franchise

• Buy an existing business