Which is a characteristic of a successful entrepreneur? (hint: choose 3 correct answers)

• Motivated

• Takes very little risk

• Passionate

• Hard-working

Elon Musk is one of the greatest innovators in the last 30 years. He... ((hint: choose 3 correct answers)

• Co-founded Google

• Co-founded Paypal

• Founded the company SpaceX

• Founded the company Tesla

Why do you need a business plan? (hint: choose 3 correct answers)

• To raise capital

• Gets everyone involved to focus on the same goals

• Gives an objective look at what you are doing and why

• It is required by law

Reid Hoffman is one of the greatest innovators in the last 30 years. He was the founder of

• Snapchat

• Twitter

• Groupon

• LinkedIn

This famous innovator & entrepreneur was a scientist, printer, inventor, author, & businessman.

• John D. Rockefeller

• Benjamin Franklin

• Thomas Edison

• Henry Ford

The process of creating something new that makes life better is called...

• Technology

• Innovation

• Brand recognition

• Opportunity cost

A business owned by two or more people.

• Sole proprietorship
• corporation
• Entrepreneurship
• Partnership

Entrepreneurs look for business ideas and new and better ways to solve problems.

• True
• False

Entrepreneurs want to be their own bosses, set their own working hours, and make their own decisions.

• True
• False

When setting the prices of goods or services, business owners must consider the prices charged by competitors.

• True
• False