Entrepenuership Lesson 1-4

A small business is generally defined as a company with fewer than:

• 25 employees

• 200 employees

• 
  5 employees

• 500 employees

Entrepreneurship is a process, involving identifying opportunities, solving problems, creating a business plan, assuming risk, managing scarce _____________, and running/operating a business with a focus on ____________ and growth.

• resources, innovation

• innovation, resources

• marketing, accounting

• risk, review

What is considered the “instrument” of entrepreneurship?

• Debt

• Innovation

• Manufacturing

• Accounting

The primary differences between small business and entrepreneurship are in the areas of growth, __________, vision, and ___________.

• innovation and risk-taking

• mission and manufacturing

• 
  vocation and marketing

• hobbies and talent

The difference between small business and entrepreneurship has nearly nothing to do with size, and nearly everything to do with:

• 
  capital

• characteristics

• competition

• number of employees

The introduction of something new – a new idea, product, method, device, or service, is called:

• vocation

• 
  vision

• 
  financial risk

• innovation