Entrepreneurship Module 1 Review

Randy is a manager for XYZ corporation. He has just developed a new type of sensor that will reduce energy to their Y21G system and save the company a lot of revenue. Randy would be considered a/an:

• entrepreneur

• venture capitalist

• intrapreneur

• collaborator

Tags

1.00

Being __________ is the treating of factual information without bias or personal feelings.

• objective

• passionate

• energetic

• creative

An agreement where a franchisee agrees to pay the franchisor for the rights to use their copyrights, trademarks, and patents is known as:

• limited-liability company

• business-format franchise

• s-corp

• partnership

A person who has been given a sole proprietorship from a family member to own and run would be considered a/an:

• entrepreneur

• share holder

• intrapreneur

• small business owner

Improving on an existing good or service would be known as:

• innovation

• globalization

• consolidation

• regulation

The three types of business ownership are sole proprietorship, ____________, and corporation.

• shareholder

• family

• partnership

• combination

The term capital refers to:

• advertising

• money

• employees

• logistics

During startup as well as during the operational stages of a business, the entrepreneur is responsible for

• the economy

• the competition

• all risks and rewards

• community awareness

A person who sees an opportunity to develop a product or service to fill a need in society is considered a/an:

• intrapreneur

• manager

• small business owner

• entrepreneur

A business that is owned by a single individual is known as a/an:

• sole proprietorship

• partnership

• franchise

• corporation