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1.00 Entrepreneurship Vocabulary

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

a period of economic growth as measured by a rise in real GDP

a)

consolidation

b)

ethics

c)

expansion

d)

etiquette

2.

a person who organizes manages, and takes on the risk of a business

a)

business-format franchise

b)

intrapreneur

c)

entrepreneur

d)

globalization

3.

a business owned by stockholders who share in its profits but are not personally responsible for its debts

a)

corporation

b)

globalization

c)

innovation

d)

merger

4.

the principles of right and wrong that guide an individual in making a decision

a)

consolidation

b)

etiquette

c)

risk

d)

ethics

5.

a business owned and managed by a single individual

a)

limited liability company

b)

partnership

c)

sole proprietorship

d)

franchise

6.

a business established or operated under an authorization to sell or distribute a company's goods or services in a particular area

a)

corporation

b)

partnership

c)

franchise

d)

sole proprietorship

7.

treating facts without influence from personal feelings or prejudices

a)

objectivity

b)

ethics

c)

risk

d)

innovation

8.

the customary code of polite behavior in society or among members of a particular profession or group

a)

globalization

b)

regulations

c)

etiquette

d)

ethics

9.

the process by which businesses or other organizations develop international influence or start operating on an international scale

a)

regulations

b)

globalization

c)

consolidtion

d)

innovation

10.

a business organization in which the business (not the owner) is liable for the company's debts

a)

limited-liability company

b)

product trade name

c)

merger

d)

partnership

11.

a franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock

a)

merger

b)

product trade name

c)

objectivity

d)

partnership

12.

business ownership owned by two or more persons

a)

partnership

b)

merger

c)

sole proprietorship

d)

franchise

13.

combination of two or more companies into a single firm

a)

corporation

b)

innovation

c)

risk

d)

merger

14.

a business organization in which the business (not the owner) is liable for the company's debts

a)

merger

b)

sole proprietorship

c)

partnership

d)

limited liability company

15.

a hypothetical process involving the gradual conversion of information into durable memory codes stored in long-term memory

a)

merger

b)

consolidation

c)

innovation

d)

risk

16.

rules governing the operation of all government programs that have the force of law

a)

innovation

b)

globalization

c)

regulations

d)

risk

17.

degree of uncertainty of return on an asset; in business, the likelihood of loss or reduced profit

a)

risk

b)

innovation

c)

ethics

d)

expansion

18.

an intrapreneur is someone who works inside an existing organization who sees an opportunity for products or service and mobilizes the organization's resources to try to realize it

a)

True

b)

False

19.

innovation is a broad franchise agreement in which the franchisee pays for the right to use the name, trademark, and business and production methods of the franchisor

a)

True

b)

False

20.

innovation is an improvement of an existing technological product, system, or method of doing something

a)

True

b)

False