Unit 1: Developing an Entrepreneurial Mindset Test Review

The possibility of losing money, time, or resources when starting or running a business is called:

• Reward

• Risk

• Profit

• Investment

What entrepreneurs get in exchange for starting a business is called a:

• Reward

• Risk

• Profit

• Investment

A person who creates and owns a business is called:

• Employee

• Entrepreneur

• Manager

• Customer

All of the following are rewards of being an entrepreneur EXCEPT:

• Independence

• Doing work you enjoy

• Unlimited free time

• Helping the community

Which NFTE Entrepreneurial Mindset involves generating ideas, finding creative solutions, and refining them?

• Critical thinking and problem solving

• Creativity and innovation

• Initiative and self-reliance

• Flexibility and adaptability

Which NFTE Entrepreneurial Mindset involves: Adapting to different roles, Understanding how to incorporate feedback effectively, Learning from and how to act with setbacks, Reflecting critically on learning experiences and processes?

• Critical thinking and problem solving

• Creativity and innovation

• Initiative and self-reliance

• Flexibility and adaptability

Which NFTE Entrepreneurial Mindset involves: analyzing and evaluating different points of view, Snythesizing information and arguments from a variety of sources, Intepreting information and draw conclusions?

• Critical thinking and problem solving

• Creativity and innovation

• Initiative and self-reliance

• Flexibility and adaptability

A serial entrepreneur is someone who starts multiple businesses over time, learning from each experience.

• True

• False

Corporate social responsibility only applies to large companies.

• True

• False

An entrepreneurial mindset is fixed and cannot be developed.An entrepreneurial mindset is something that can be practiced and developed over time.  It is not necessarily something you are born with.  

• True

• False