Careers

The ability to guide or direct the actions of others is an example of:

• communication skills

• problem solving skills

• leadership skills

• creativity

The creation of new or unique products is

• innovationinnovation

• enterprenereurship

• self awareness

• networking

The ability to adapt to changes as they occur is

• creativity

• innovation

• technical skills

• flexibility

Which of the following is a way that entrepreneurship helps our society?

• Decreases economic growth

• Creates new jobs

• Reduces taxes

• Eliminates financial concerns

The most likely reason an individual might turn a woodworking hobby into a business is

because of

• personal satisfaction.

• higher taxes.

• guaranteed financial security.

• None of the above

Many businesses fail due to insufficient capital. Insufficient capital is also known as a lack of

• commitment.

• money.

• employees.

• All of the above

Which of the following statements is true regarding entrepreneurship:

• Most entrepreneurs are born with the skills they need for success.

• Personal traits are behaviors that cannot be strengthened.

• Most people have the ability to become entrepreneurs.

• None of the above

In the early stages of a start-up business, entrepreneurs assume sole responsibility for

• all aspects of their businesses.

• he demand of their products

• global economic growth rates.

• the daily activities of competitors.

Technological advancements have made it possible for some entrepreneurs to

• operate their businesses entirely from their computers.

• reduce the need for maintaining financial records.

• run their businesses with fewer computer skills.

• eliminate the need to pay income and Social Security taxes

What is a disadvantage of entrepreneurship?

• Personal satisfaction

• Fewer resources

• Uncertain income

• Lower taxes