Entrepreneurship and Business Ownership

What is the number-one complaint employers express about the skills of entry-level workers?

• They don't know enough math.

• They have problems with communication.

• They do not practice good hygiene.

• They can't think quickly enough.

It is important to pay attention to your social media etiquette because

• Potential employers may look at your online posts

• Online posts can mess up your work relationships

• Potential colleges may look at your online posts

• All of the available choices

Personal characteristics of successful entrepreneurs include

• persistence

• recklessness

• greed

• pessimism

Small businesses

• must focus on products and services that meet the needs of as large a group of customers as possible

• have an advantage when customers want more individual attention

• are generally forced to sell products and services at lower prices than large businesses to compete effectively

• all of the above.

Most business plans are updated

• every six months

• annually

• every five years

• whenever the business hires a new employee

The easiest form of business to start is the

• S corporation

• proprietorship

• partnership

• nonprofit corporation

A unique business organized by two or more other businesses to operate for a limited time and for a specific project is a

• franchise

• limited liability partnership

• joint venture

• limited liability company

A government agency that helps entrepreneurs develop business plans and obtain financing

• Small Business Association

• Department of Labor

• Small Business Administration

• Businesses R Us

The part of a business plan that discusses sales forecasts and the location and number of potential patrons.

• customer analysis

• operations plan

• management plan

• financial plans

A business is owned and operated by only one person

• proprietorship

• partnership

• franchise

• corporation