WorksheetsEntrepreneurs: Let's Start
Total questions: 25
Worksheet time: 6hrs 15mins
Entrepreneurs are primarily connected to
Globalization Phase I
Globalization Phase II
Globalization Phase III
Feudalism
Entrepreneurs create _____ for others by creating goods, services, and methods that others find useful
incentives
benefits
opportunities
value
What are the characteristics of entrepreneurs? I innovative II think inside the box III intuitive IV methodical thinkers
I II III IV
I III
I IV
III II
Which of the following characteristics are essential when on the frontier of "uncharted waters"?
I tolerance for ambiguity II flexibility III innovative IV cautious
all
I III II
III II
I IV
What is the name of this critical attribute, which is one of the defining characteristics of entrepreneurship, the ability to spot an opportunity and imagine something where others have not?
innovation
vision
creativity
sight
Which trait does this refer to? "Entrepreneurs are _____. They create new goods and services by combining resources in new ways."
passionate
creative
visionary
innovative
Who can develop entrepreneurial traits? Where do successful entrepreneurs generally come from?
only small business owners with experience
only presidents and/or CEOs of successful corporations
college graduates
you
"Tenacity is number 1," says Mike Colwell, who runs Plains Angels. "A large part of entrepreneurship is dealing with repeated failure. It happens many times each week."
What is "tenacity"?
Nothing ever goes my way
let someone else do it
it's too hard
I know I can
What title best represents the concept of entrepreneurship?
I was born this way
I could have been someone
To dream the impossible dream
Nothing's gonna stop me now
21st Century Entrepreneurs
depend heavily on physical stores
are primarily funded by commercial banks
are typically associated with start-ups
are 100% self-funded
Which is not an urban legend about entrepreneurs?
Entrepreneurs take unknown risks without any plan.
Entrepreneurs have significant work experience.
Entrepreneurs start businesses with a revolutionary invention.
Entrepreneurs identify and capitalize on emerging needs and wants.
What is income?
profit from the sale of goods and services
profit after expenses
revenue from the sale of goods and services
money paid to suppliers and workers
What is a common misconception about entrepreneurs?
They are persistent.
They are innovative.
They are risk-takers.
They always work alone.
Which of the following is a key factor in business success?
Having a unique idea
Inheriting wealth
Network of contacts
Luck
Entrepreneurs often need to be adaptable. Which of the following options best describes this trait?
Ignore market trends
Stick to a single plan
Change strategies as needed
Avoid new challenges
What is a common challenge faced by entrepreneurs when starting a new business?
Uncertainty and risk
Guaranteed customer base
Unlimited financing
Predictable market conditions
Which of the following options best describes the role of failure in entrepreneurship?
Failure is a rare event
Failure is an opportunity to learn and improve
Failure is irrelevant
Failure is a sign to give up
What is a key motivation for many entrepreneurs?
Desire for job security
Interest in maintaining the status quo
Passion for innovation and value creation
Preference for routine tasks
Bradley decides to open his own car repair business. He sets his own schedule and makes sure to complete each job for his clients on time. This shows that he is ________.
creative
inquisitive
independent
risk-taker
Which of the following is NOT a characteristic of an entrepreneur?
Risk-taking
Innovation
Dependence
Vision
Who is an entrepreneur?
a manager of the largest retail store in the city
the employee of the retail store
an adult who started a mobile car detailing van
the adult who manages a store
Which of the following is an entrepreneurial characteristic?
Dependence
Inflexibility
Risk-taking
Lack of willingness to learn
People who risk their money, time, and other resources to start and manage their own business
Entrepreneurs
Employees
Clients
Clients
A/An_____________is an individual who undertakes the creation, organization, and ownership of a business.
consumer
entrepreneur
business owner
capitalist
Who is an entrepreneur?
The manager of the largest retail store in the city
The retail store employee
A person who operates a mobile car detailing business
A police officer
