Entrepreneurship Semester 1 Review

Front

Business entity that is easy to start and has a single owner.

Back

proprietorship

Front

Business entity with two or more owners that share the company's profits and losses.

Back

partnership

Front

Business entity that blends elements of partnership and corporate structures.

Back

limited liability company

Front

Business entity that is usually owned by multiple stockholders and operates as a separate legal entity.

Back

corporation

Front

_________________ is a description of the characteristics of a person/business likely to purchase a specific product or service

Back

Customer profile

Front

The individuals or companies that are interested in a particular product or service and are willing and able to pay for it

Back

Target market

Front

What does limited liability mean?

Back

If the business fails, the owners may lose the money they invested but none of their personal possessions.

Front

Name one of the reasons people become entrepreneurs: Feeling insecure, They like to be the ONLY one doing everything, They are doing what they enjoy

Back

They are doing what they enjoy

Front

An entrepreneur must be...

Back

organized

Front

An entrepreneur can own an online business...

Back

True - there are companies online as well as in person