ENT: Unit 2 Entrepreneurship and You Test

What is the definition of an “employee”?

• A person who starts and runs their own business, taking on financial risks.

• A person who works for another person or organization in return for wages or a salary.

• A person who invests money in various financial instruments to earn a profit.

• A person who provides expert advice professionally.

A feature or quality belonging typically to a person, place, or thing and serving to identify it.

• Characteristics

• Skill

• Aptitude

• Self-Assessment

Vocabulary: Choose the correct definition for the vocabulary word. 4. A natural ability to do something.

• Self-Assessment

• Aptitude

• Skill

• Characteristics

What is a key difference between an entrepreneur and an employee?

• An entrepreneur works for a business owned by someone else.

• An employee starts their own business.

• An entrepreneur creates and owns their own business.

• There is no difference; both terms mean the same thing.

Which statement best reflects the concept of thinking entrepreneurially?

• Thinking entrepreneurially means focusing solely on profit-making ventures.

• Thinking entrepreneurially involves learning how to think and act like an entrepreneur, which can be advantageous in various aspects of life.

• Entrepreneurial thinking is only necessary for high-level managers in large corporations.

• Entrepreneurial thinking discourages creativity and innovation in problem-solving.

What does the saying “no risk, no reward” imply for entrepreneurs?

• A) Entrepreneurs do not need to invest time and energy.

• B) Entrepreneurs can achieve greater rewards without taking risks.

• C) Entrepreneurs must take risks to potentially gain greater rewards.

• D) Entrepreneurs are guaranteed success without any risk.

According to the Small Business Administration (SBA), a small business in manufacturing or construction is defined as having fewer than how many employees?

• 100 employees

• 500 employees

• 1000 employees

• No limit on the number of employees

How do personal characteristics influence the way we describe someone’s behavior?

• They are based solely on a person’s physical appearance.

• They change frequently, making it hard to describe someone’s behavior accurately.

• They are unrelated to a person’s behavior and are purely random.

• They are influenced by personality dimensions that determine how others perceive an individual’s behavior.

Which dimension of human personality assesses whether a person enjoys new experiences or prefers routine?

• Conscientiousness

• Extraversion

• Openness to experience

• None of the above

Which dimension of human personality assesses whether a person is friendly and compassionate or analytical and detached?

• Neuroticism

• Agreeableness

• Extraversion

• Conscientiousness