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

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

• Motivated

• Takes very little risk

• Passionate

• Hard-working

What is a disadvantage of being an entrepreneur?

• You have more control over your work

• You have a more flexible schedule

• You do not always receive a regular paycheck

• Your work schedule is always predictable

Most entrepreneurs work long hours, but they create their own schedule.

• True
• False

They’re able to not only come up with ingenious ideas, but also turn those ideas into profits.

• Creative

• Perseverance

• Persistence

• Self Confidence

The development of the idea for the business is called

The setting up of the business, deciding on the best location, identifying suitable premises, employing workers describe

Ensuring that the business is successful once you have established it is called

• operating

• evaluating

• bearing risk

• organizing

The owner must ensure that the business is assessed and make changes where necessary.