Understanding Entrepreneurship

An entrepreneur is a person who:

• Works for a company

• Has an idea for a product and starts a business

• Manages a large business

• Focuses only on making profits

A business is considered "small" if it has how many employees?

• 1-50

• 1-100

• 1-500

• 1-1000

What percentage of employer firms in the U.S. are small businesses?

• 89.6%

• 99.7%

• 54%

• 75%

Since 1990, big businesses have eliminated 4 million jobs, while small businesses have added how many jobs?

• 4 million

• 6 million

• 8 million

• 10 million

What allows scalable startups to grow faster than other new businesses?

• Government grants

• Community support

• Money from investors

• Strong local presence

Richard Montañez's creation of Flamin’ Hot Cheetos while working at Frito-Lay is an example of what?

• Entrepreneurship

• Social entrepreneurship

• Intrapreneurship

• Small business management

What is the main focus of social entrepreneurship?

• Generating large profits

• Meeting social goals

• Investing in technology

• Expanding globally

If you’ve started working on your business idea in your free time after school or work, you’re in which phase of entrepreneurship?

• Dream it

• Create it

• Grow it

• Manage it

Talking to your friends about a business idea is part of which phase of the entrepreneurial process?

• Grow it

• Manage it

• Dream it

• Create it

Hiring an employee to help with an increasing workload is an example of which phase of the entrepreneurial process?

• Create it

• Manage it

• Dream it

• Grow it