The Yellow Book Quiz

What is an entrepreneur?

• An entrepreneur is a person who produces a good or service and takes  them to the marketplace.

• An entrepreneur is a person who buys good or service.

• An entrepreneur is a person who regulates the market laws by manufacturing a good or service and takes  them to the marketplace.

An entrepreneur that creates a new product or service or improve the process  or the way a business operates is called an...

(a)  

The way the market signals to entrepreneurs that they are on the right track and rewards them for doing things that customers value.

(a)  

When an entrepreneur identifies opportunities, they typically ...

• take proactive and strategic actions to capitalize on them.

• have a passive behavior and does not take risks.

• have many doubts and prefers to take a step back to avoid losing money.

• have a good attitude.

Losses are ...

• Opportunities to grow

• the way the market signals that a product or idea may not provide enough value to the customer. This is the risk of entrepreneurship.

• a reward that entrepreneurs get for doing things that customers value.

  
  

• a great idea for a business idea

Mark Zuckerberg is an innovator because he founded...

(a)  

What is creative destruction?

• a process by which something new destroys or alters something older in the marketplace.

• a process by which something older in the marketplace can be .

• a crucial element that drives the enhancement or innovation of a product in the market.

It prevents someone from copying your original work.

(a)  

What are trademarks?

• Grow to reach their potentials and succeed by generating expected returns.

• Words, names or symbols that identify the maker of a product.

• A Business created by 2 or more people.

What is partnership?

• A business owned by one person that received the profit but also bears the responsibilities for debts and risks. 

• A Business created by 2 or more people.

•  A legal entity that is separate and distinct from its owners, known as shareholders