JA It's My Business

Someone who starts a business with the intention of making a profit.

• Employee

• Employer

• Entrepreneur

• Investor

Which of the following are four characteristics of an entrepreneur?

• impulsive; passionate; risk-taker; self-centered

• innovative; passionate; self-confident; self-centered

• innovative; passionate; risk-taker; self-confident

• impulsive; innovative; risk-taker; self-confident

What is a social entrepreneur?

• a person who uses entrepreneurial thinking and strong social skills to start a business

• a person who sees a need in society and passionately pursues a solution using entrepreneurial thinking

• a person who makes business decisions by considering what is best for society

• a person who uses a social network to succeed in starting and developing a business

A pitch is a presentation to explain a business idea.

• True

• False

What is a target market?

• a group of people who agree to be interviewed about a product or service

• a group of potential customers who strongly dislike a product or service and offer constructive feedback

• a group of people who love a product or service and are willing to pay for it

• a group of potential customers who need a product or service and are willing to pay for it

Which of the following are the best questions to ask yourself when creating a new product or service?

• What problem am I trying to solve? What technology can I use to solve it?

• What need am I trying to fill? How can I make the largest profit?

• What problem am I trying to solve? What need am I trying to fill?

• How can I make the largest profit? What technology can I use?

What does innovative mean?

• old or out-of-date

• recycled into something new

• improved or made better

• new, original, or ground breaking

Which statements are true about innovative ideas?

I. They offer new solutions to common problems.

II. They are always high-tech, new inventions.

III. They can be as simple as a Post-It note or as complex as a smart phone.

IV. They can be improvements on existing products.

• I, III, and IV

• I, II, and IV

• I and III

• II and IV

A feature, lower price, or other aspect of a product or service that makes it a better choice than similar products or services.

• Target Market

• Solution

• Competitive Advantage

• Entrepreneur

A model or sample of a product to be produced

• Design

• Prototype

• Competitive Advantage

• Innovation