Preliminary Examination in Entrepreneurial Management

Someone who creates and runs a business is called an ____________.

• entrepreneur

• manager

• entrepreneurship

When an entrepreneur starts a new business, ______ is involved. It is the chance of losing something. Because employees work for someone else and

entrepreneurs work for themselves.

• Risk

• Success

• Failure

• Obstacles

One way you can gain a sense of what business is like is by investigating an internship, or apprenticeship. True or False?

• True
• False

The biggest reward of becoming an entrepreneur is the personal satisfaction that comes from having the freedom to make your own business decisions and then act on them. True or False?

• True
• False

Being an entrepreneur is making your own rules. When you own a business, you get to be your own boss. True or False?

• True
• False

Being an entrepreneur lets you make your community and world a better place. True or False?

• False
• True

Being an entrepreneur has Financial Insecurity. Many new businesses don't make much money in the beginning, so you may not always be able to pay yourself. True or False?

• False

• True

It's usual for entrepreneurs to work a lot of extra hours to make their businesses successful. This is especially true during the initial start-up process. True or False?

• False
• True

Here are some well-known entrepreneurs who changed the world except.

• Thomas Edison P.T.

• Barnum Wlliam Harley

• Arthur Davidson

• Adam Smith

Here are some well-known entrepreneurs who changed the world except.

• Wlliam Harley & Arthur Davidson

• Maggie Lena Walker

• Ingvar Kamprad

• Jean Baptiste Colbert