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Entrepreneur Basics

Total questions: 13

Worksheet time: 13mins

Name
Class
Date
1.

Which of the following are characteristics of an Entrepreneur?

a)

Being a follower

b)

Flexible

c)

Innovative

d)

Lazy

2.

Who is someone that exercises initiative by organizing a venture to take benefit of an opportunity, and as the decision maker, decides what, how, and how much of a good or service to be produced?

a)

A boss

b)

An entrepreneur

c)

A college graduate

d)

A teacher

3.

What does an entrepreneur focus on?

a)

Recognizing a business opportunity

b)

Operating & maintaining their business

c)

Getting lots of sleep

d)

Working for someone else

4.

Based on the slides we read in class, which of the following are types of entrepreneurship?

a)

Business

b)

Social

c)

Lifestyle

d)

Working

5.

True or false: A Serial Entrepreneur only create 1 single business based on an opportunity they spotted in a market.

a)

False

b)

True

6.

A Sole Proprietorship is when how many people form a business?

a)

A dozen

b)

Three

c)

One

d)

100+

7.

True or False: A Partnership is when one person creates a business?

a)

True

b)

False

8.

Walmart, Target, CVS Health, and Toyota Motor are all examples of what?

a)

Sole Proprietorships

b)

Partnerships

c)

Limited Liability Company

d)

Corporations

9.

True or False: A limited liability company (LLC) is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.

a)

False

b)

True

10.

Manufacturing, Retailing, Wholesaling, Service, Green, and Social are all examples of what?

a)

Job Titles

b)

Degrees

c)

Types of Entrepreneur Business

d)

Characteristics of Entrepreneurs

11.

True or False: A disadvantage of being an entrepreneur is possibly having to work over 40 hours a week to keep the business thriving.

a)

True

b)

False

12.

True or False: Freedom of career, Flexibility of your work schedule, Control over your business, and company profits directly reflecting in your checking account growing are all advantages of entrepreneurship.

a)

False

b)

True

13.

Which of the following characteristics do you want your team members showing?

a)

Bad attitude about work

b)

Commitment to the business

c)

Lack of communication

d)

Cooperation towards overall goals