Entrepreneurship UNIT 2 TEST

What are traits of successful entrepreneurs?

• Innovative and Persistent

• Passionate and Focused

• Persuasive and Hard Working

• all of the above

A willingness to be flexible and to be “on call” and to work long and irregular hours, in order to serve your employees and customers and grow your business, is an example of what trait of successful entrepreneurs and business owners?

• persuasiveness

• work-ethic

• confidence

• Life-long-learner

In one sentence, define what emotional intelligence is.

• The ability to recognize, understand, and manage our own emotions and the emotions of others.

• The capacity to solve complex mathematical problems.

• The skill of performing physical tasks with precision and accuracy.

• The talent for creating artistic and musical compositions.

Improper delegation, without enough direction or management, can cause employees to become:

• frustrated and confused

• empowered

• developed

• promoted and rewarded

Jessica O. Matthews used innovation to solve a problem, by having children in poor countries jump rope to create power for:

• heat

• soccer field

• LED light

• water pressure

Small businesses and entrepreneurs are important to society because they:

• create jobs

• create bureaucracy

• avoid taxes

• work alone

Small business owners are usually more concerned about this than entrepreneurs are:

• a) a unique product

• b) a steady income

• c) breakthrough technology

• d) accounting statements

Small businesses and entrepreneurs are important to society because they:

• provide for everyday needs

• provide economic growth

• help us save money to build wealth

• all the above

What percentage of companies in the United States are considered to be “small” businesses?

• over 500 employees

• over 90%

• under 50%

• 10%

Which one of the following gives access and opportunity to so many who are considering becoming an entrepreneur?

• access to technology

• the internet

• the power of computing

• all of the above