Entrepreneurship Final

Alternatives to traditional employment like gig work has become popular leading people to become_____.

• Employees

• Small Entrepreneurs

• Independent contactors

• Flexible workers

What type of business structure should you establish if you want to manage the business yourself?

• Limited Partnership

• single-member LLC

• S-Corporation

• multi-member LLC

LLCs offer flexible tax treatment, meaning they can opt to be taxed as which of the following?

• they can be taxed like corporation

• they can be taxed like partnerships

• they can be taxed like proprietorships

• They can opt to be taxed as either of the choices

Starting and owning a person's own business

• corporation

• entrepreneurship

• sole proprietorship

• partnership

Which factor of economic growth is being described in the statement below? In 2007, Jordi Munoz hacked the sensors on the controller of his Nintendo Wii game console, wrote some code, and created the first autopiloted drone. A few years later, he launched the 3D Robotics company which has more the 180 employees in North America and over 30,000 customers worldwide.

• Natural Resources

• Human Capital

• Entrepreneurship

• Capital Goods

Entrepreneurs look for business ideas and new and better ways to solve problems.

• True

• False

The right to sell a company's products in a specified area.

• sole proprietorship

• corporation

• franchise

• retail business

What are the main functions of an entrepreneur?

• Search for ideas

  and opportunities.

• Plan, organize,

  and manage.

• Provide the materials for the production of the goods.

• Assumes

  the risks.

Which of the following sentences is grammatically correct?

• A) She don't like to read books.

• B) He go to the gym every day.

• C) They has a new car.

• D) She enjoys reading novels.

Identify the synonym of 'entrepreneur'.

• A) Employee

• B) Innovator

• C) Follower

• D) Manager