Venture: Entrepreneurial Expedition® - The Entrepreneur in You

What is the definition of an entrepreneur?

• An entrepreneur is someone who manages a business.

• An entrepreneur is someone who owns a business and makes profit from that business.

• An entrepreneur is someone who creates, owns and potentially runs a business.

• None of the above.

Which of the following is NOT true about an entrepreneur?

• An entrepreneur gets to act as their own boss.

• An entrepreneur has ownership in the business.

• An entrepreneur is responsible for the success of their business.

• An entrepreneur’s salary is evaluated on their ability to complete the tasks assigned to them

An example of an asset is:

• Time

• Money

• A car

• All of the above

Which of the following is NOT a true statement about business plans?

• They should never be revised.

• They can help lower the risk of starting a new business.

• They are created before starting a business.

• They should include an overview of your business goals and how you think you are going to achieve them.

Which of the following is NOT necessarily a characteristic of successful entrepreneurs?

• Creativity & Collaboration

• Comfort with Risk

• Aggressiveness & Intensity

• Initiative & Self-Direction

Which of the following is an advantage of starting your own business?

• During the start-up phase, you do not have to think about funding.

• You are in charge of the decision-making so there is little to no risk.

• You have control over where and when you work.

• As long as you make a business plan, you will know what obstacles to expect.

While being an entrepreneur can be the right career choice for many, some may not feel that starting a business is for them. What is the best reason to study entrepreneurship?

• Thinking like an entrepreneur can make you a better student and employee, no matter what your job is.

• Knowing about entrepreneurship means you'll never have to work for a boss.

• Entrepreneurs do not have to worry about getting good grades in school because they start their own business.

• None of the above.

What is the main difference between a personal characteristic and a skill?

• You can learn a personal characteristic, but it is not possible to learn a skill.

• Personal characteristics become skills over time.

• Many people are born with business skills but you can't be born with characteristics.

• Skills can be learned and developed while personal characteristics are inherent qualities within.

Which one of these is NOT considered a skill?

• Determination Skills

• People Skills

• Business Skills

• Communication Skills

What role do entrepreneurs play in economics?

• Entrepreneurs tell consumers what they should want or need.

• Entrepreneurs create the businesses that produce products and services that meet the wants and needs of consumers.

• Entrepreneurs borrow money from the economy to start their businesses.

• None of the above.