Entrepreneurship MP1 Exam

The buildings, equipment, tools, and other goods needed to produce a product.

• Capital

• Investment

• Foundational skills

• Competition

A person with a record of success.

• Goal-oriented

• Achiever

• Role models

• Profile

People whose attitudes and achievements others try to emulate.

• Foundational skills

• Goal-oriented

• Role models

• Achiever

The rivalry among businesses for consumer dollars.

• Achiever

• Foundational skills

• Capital

• Competition

Skills that are used in all jobs when setting up and running a business.

• Role models

• Foundational skills

• Investments

• Goal-oriented

The amount of money one puts into a business as capital.

• Investment

• Profile

• Competition

• Capital

A set of characteristics that identifies a type or a category of person.

• Foundational skills

• Achiever

• Goal-oriented

• Profile

A trait of entrepreneurs.

• Achiever

• Profile

• Goal-oriented

• Role models

A successful entrepreneur is willing to work until a job gets done. Which of these terms describe this characteristic?

• persistent

• self-confident

• restless

• enthusiastic

Entrepreneurs must understand how the economy works. What skill does this describe?

• technical skills

• decision-making skills

• basic business skills

• math skills