Entrepreneurship Quiz 1

What is the core definition of an entrepreneur?

• Someone who works for a feline health and fitness company

• Someone who works 9 to 5 in an accounting firm

• Someone who sees a need and takes on the financial risk to start a business to fill that need

• Someone who creates a personal brand

What is the Gig Economy?

• A traditional path of joining an accounting firm right after college

• A shift in the global job market that has opened the door for entrepreneurship to become more mainstream

• A system of temporary hiring for 1 specific project

• A method of working 9 to 5, Monday to Friday until retirement

What is one of the most reported problem with the gig lifestyle?

• Limited opportunities for income

• Lack of structured work time

• Difficulty in finding fulfilling gigs

• Struggle to turn off the hustle

What is the main motivator for entrepreneurs according to the Social Science Research Network journal?

• Potential wealth

• Opportunity for rags-to-riches tales

• Financial risk

• Freedom

What determines success for entrepreneurs according to the video?

• YOU determine success

• Selling an idea for a million dollars

• Earning $30,000 a year in a food truck and skiing every weekend

• Owning 6 cats and producing your own films

What is the bottom line ingredients for first becoming an entrepreneur according to the video?

• Freedom and potential wealth

• Financial risk and long hours

• Grit, determination, and some luck

• Lean Startup methodology

Having your business in a physical store

• gigging

• Brick and Mortar

• E-Commerce

All of these are advantages of gigging EXCEPT for which answer?

• • Businesses can avoid long term commitments with giggers and hire by them by project

• • Businesses can avoid paying salaries and just pay per gig

• • Giggers get a variety of experiences to develop their services

• • Businesses legally have to hire giggers for at least a year.

All gig workers are entrepreneurs

• • True

• • False

All entrepreneurs are gig workers

• True

• False