Intro to Entrepreneurship

Imagine you're starting a tech company. Which of the following would be considered one of the four essential factors of production you need to consider?

• Cultural norms

• Entrepreneurship

• Technology

• Government policy

What did Susie want more than anything?

• A trip to Disneyland

• A video game console

• A mellow yellow bumblebee backpack bundle

• A new bicycle

Why did Susie's parents refuse to buy her the toy she wanted?

• They were saving money for a family vacation

• They wanted her to earn it herself

• They didn't think it was a solid investment

• They thought it was too expensive

What did Susie do when she couldn't get her favorite book from her parents or the library?

• She asked her grandparents

• She gave up

• She entered a contest

• She started a lemonade stand

What was Susie's initial problem with her lemonade stand?

• She was located in a low traffic area

• She didn't have enough cups

• Her lemonade wasn't sweet enough

• It was too cold outside for lemonade

How did Susie improve her lemonade business?

• By moving to a busier location

• By adding food dye and sweetener

• By lowering the price

• By advertising on social media

Imagine you're starting a new tech startup. What is a key trait you should have as an entrepreneur according to the text?

• Having a college degree

• Being wealthy

• Being optimistic about the future

• Having a lot of free time

Imagine you're researching the impact of small businesses on the economy for a school project. You come across a statistic stating the percentage of new job growth attributed to small businesses in the United States. What is that percentage?

• Nearly 50%

• About 25%

• Almost 75%

• Over 90%

Imagine you've started a small business selling handmade jewelry. What is a benefit of being an entrepreneur in this scenario?

• You have no financial risk

• You control your own schedule

• You don't have to work hard

• You are guaranteed success

Imagine you've started a small bakery. What is a downside of entrepreneurship mentioned in the text?

• You must have a college degree

• You have to work more than 8 hours a day

• You can never take a vacation

• There is some financial risk involved