Entrepreneurship 2 Pre-Assessment

Which one of these is NOT generally a characteristic of an entrepreneur?

• risk taker
• idea person
• generalist
• specialist

What are the two types of business ventures?

• work and home

• school and work

• a product or service

• telephone or internet

Entrepreneurship is...?

• Starting and operating a business

• The process of applying for a loan

• The formal name of closing a business

• Teaching a younger person a trade

A person most likely to buy your product or service is your

• Client

• Target Customer

• Agent

• Mom

Expenses required to start a business are __________.

• Insurance

• Start-up Costs

• Rent

• Salaries

They are the ones who pay cash in exchange for your goods and services.

• Competitors

• Sellers

• Suppliers

• Buyers

___________________ will determine possible customers in one locality

• market research

• Market design

• market size

• Market strategy

Sales are also referred to as revenue.

• False

• True

computer hardware and software, cellphones, printers, internet, IT support

• marketing costs

• administrative costs

• variable costs

• technology costs

Major investments in either tangible long-term assets such as land, buildings, and equipment or intangible assets such as patents, trademarks, and copyrights.

• capital expenditures

• variable costs

• benefits

• variable-cost margin