Ch 6 Entrepreneurship Review

What is an entrepreneur?

• A person who is in charge of a specific location.
• A person who works for someone else in order to learn skills.
• A person who organizes and operates a business or businesses.
• None of these

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

Most entrepreneurs work long hours, but they create their own schedule.

• True
• False

ALL entrepreneurs have a college degree.

• True
• False

Entrepreneurs have to find their own health insurance and plan for retirement.

• True

• False

Entrepreneurs do not pay taxes to the IRS.

• True

• False

Which is a common characteristic of an entrepreneur?

• organized

• vindictive

• impressionable

• irresponsible

At what age can you become an entrepreneur?

• 20

• 18

• 50+

• any age

What is one way that a business might use marketing information?

• To develop new products 
• To calculate sales transactions

A ___________is a document that describes a new business. It explains to ​lenders and investors why the new business deserves Financial support.

• Business concept

• Demand

• Business plan

• Financial statements