Chapter 1 Review: Introduction to Entrepreneurship

The capacity and motivation to deploy a business venture that involves risk in order to make a profit.

• Entrepreneurship

• Entrepreneur

• Entrepreneurial Mindset

• Entrepreneurial

The art of taking financial risks in order to make a profit.

• Entrepreneurship

• Entrepreneur

• Entrepreneurial Mindset

• Entrepreneurial

An individual who founds and runs a business assuming all of the risks and rewards of the venture.

• A. Entrepreneurship

• B. Entrepreneur

• C. Entrepreneurial Mindset

• D. Entrepreneurial

A state of mind in which one conducts him/her self to entrepreneurial activities.

• Entrepreneurship

• Entrepreneur

• Entrepreneurial Mindset

• Entrepreneurial

Entrepreneurs abandon steady paychecks. This is known as a (a)   that they accept.

• Risk

• Reward

• Innovation

• Start-up

Independence and enjoyment are potential (a)   from entrepreneurship.

• Risks

• Rewards

• Innovations

• Start-ups

The greater the risk the greater the reward and vice-versa is known as (a)   .

• Risks

• Rewards

• Risk/Reward Tradeoff

• Start-up Tradeoff

An organization that operates to aid in some social effort, they do not retain any profits from commerce.

• Non-Profit

• For-Profit

• Profit

• Venture Capital

Goods are (a)   products that have monetary value.

• Tangible

• In-tangible

• Profit

• Rewarding

One can analyze an opportunity by all of the following except:

• Competition

• Domestic and International Market Scope

• Self and Team Assessment

• Distributing Assets