Entrepreneurship Sem 1 Final Review

What is an entrepreneur?

• A person who is in charge of a specific location.
• A person who works for someone else in order to learn skills.
• A person who organizes and operates a business or businesses.
• None of these

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

An entrepreneur is someone who works for themselves.

• True
• False

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

• True
• False

ALL entrepreneurs have a college degree.

• True
• False

What are the four P's of marketing

• product, produce, production, price

• person, place, produce, practice

• promotion, product, practice, price

• promotion, place, price, product

Something that a business does for a customer in exchange for money

• Greets the customer

• Shows products

• Service

• Answers questions

Which of the following is a competitive advantage?

• superior customer service and product quality

• retail

• advertising

• improving an existing product/service

Demographics

• objective social and economic facts about people

• basing market segments on where consumers live

• characteristics of consumers, such as attitudes, opinions, beliefs, interests, personality, lifestyle, political affiliation, and personal preferences

• a company who sells to other companies

Discounts are an example of which type of promotion?

• advertising

• sales promotion

• publicity

• visual merchandising