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WorksheetsEntrepreneurship and Society
Total questions: 65
Worksheet time: 38mins
How does entrepreneurship helps our society?
Eliminates financial concerns
Decreases economic growth
Creates new jobs
Reduces taxes
One way in which entrepreneurs are different from small-business owners is that
small-business owners generally are not interested in expanding their businesses.
entrepreneurs rarely manage the day-to-day aspects of their businesses.
small-business owners usually employ between 500 and 1,000 workers.
entrepreneurs usually purchase existing businesses or franchise rights
While managers help to make entrepreneurs’ visions a reality, they aren’t required to
assume the risk involved.
formulate company policy.
implement procedures.
set business objectives.
The most likely reason an individual might turn a woodworking hobby into a business is because of
personal satisfaction
sales quotas.
higher taxes.
guaranteed financial security.
Michelle’s primary reason for starting her own business is her desire to make her own schedule. Michelle is looking forward to the __________ she hopes to have as a business owner.
tax breaks and deductions
personal commitment
advanced technology
flexibility and independence
Many businesses fail due to insufficient capital. Insufficient capital is also known as a lack of
advertising
commitment
employees.
money
In the early stages of a start-up business, entrepreneurs assume sole responsibility for
the daily activities of competitors.
global economic growth rates
all aspects of their businesses
the demand of their products.
Technological advancements have made it possible for some entrepreneurs to
run their businesses with fewer computer skills.
operate their businesses entirely from their computers.
reduce the need for maintaining financial records
eliminate the need to pay income and Social Security taxes.
Governments can encourage entrepreneurial development by
establishing higher ethical standards
passing more legislation with strict guidelines.
deregulating and reducing taxes.
increasing interest rates on loans
What is a disadvantage of entrepreneurship?
Personal satisfaction
Uncertain income
Lower taxes
Fewer resources
Entrepreneurs who are aware of their personal strengths and weaknesses increase their chances of
success.
outsourcing.
empathy
productivity.
Successful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have __________ what they do.
passion for
concerns about
apathy for
reservations about
How are entrepreneurs similar?
They have strong personal traits, such as determination and confidence
They are born with excellent leadership and communication skills.
Start-up business owners rarely fail at their entrepreneurial ventures.
Most entrepreneurs go on to start other businesses.
Even though there is a significant chance that his business will fail, Sidney intends to open a sports memorabilia shop. What entrepreneurial trait is Sidney exhibiting?
Open-mindedness
Creativity
Organization
Willingness to take risks
How do entrepreneurs develop their skills?
By training and continuous practice
By becoming an autocratic leader
By reducing their flexibility
By seeking little or no advice from others
Which of the following statements is true regarding training for entrepreneurial ventures:
Most successful entrepreneurs have degrees from four-year colleges or universities.
Most entrepreneurs must pass state-mandated exams to operate their businesses.
The type of training and education that entrepreneurs need depends on the nature of the start-up business.
Once entrepreneurs are educated or trained in their business field, they rarely need further education.
Which of the following statements is true regarding entrepreneurship:
Most people have the ability to become entrepreneurs.
Entrepreneurship offers limited personal and financial growth possibilities
Most entrepreneurs are born with the skills they need for success.
Personal traits are behaviors that cannot be strengthened.
Before starting their business ventures, which of the following would entrepreneurs recognize first:
Regulations
Opportunities
Associations
Reductions
Entrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and
when changes were last made
how things are being done.
what was done in the past
what needs to be done.
Environmental protection and the shift towards healthier lifestyles are examples of
trends.
solutions.
obstacles.
problems.
How many types of entrepreneurs have we discussed?
(a)
A new method, idea, or product.
invention
creation
business model
innovation
Moral principles that govern a person's behavior or the conducting of an activity.
ethics
beliefs
knowledge
references
The customary code of polite behavior in society or among members of a particular profession or group.
behavior
etiquette
manners
vision
The process by which business or other organizations develop international influence or start operating on an international scale.
international trading
overseas bordering
bordering
globalization
How many people are required to start an entrepreneurial business?
1
2
3
4 or more
A manager within a company who promotes innovative product development and marketing.
intrapreneur
entrepreneur
sole proprietorship
partnership
A situation involving exposure to danger.
problem
accident
risk
plan
4 Types of Entrepreneurship:
Small Business, New Business, Large Business, Social Business
Small Business, Scalable, Large Company, Social
Innovator, Specialist, Builder, Opportunist
None of the answers are correct
Characteristics of Small Business Entrepreneurs include:
Dealing with known risks
Trading goods - like buying branded shampoos and then selling them to retailers
Focusing on new, innovative offerings
All the answers are correct
A "Scalable" Startup is a a business that:
Does not seek outside financing
Attempts to solve a social problem
Innovates with a unique product/service and continues to grow the company
All answers are correct
Entrepreneurship "Con's" include:
Making less money in the early stages
Having less time to work on other goals
Taking responsibility for all the risk
All answers are correct
Entrepreneurs are motivated by financial freedom, corporate freedom, environmental freedom, and personal freedom
True
False
Entrepreneurs who are aware of their personal strengths and weaknesses increase their chances of
success.
empathy.
productivity.
outsourcing.
What does a business need to have in order to be successful?
Time-management skills
Effective communication
Ethical decision-making
All of these
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
product trade name franchise
partnership
sole proprietorship franchise
business format franchise
A franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock and sell a specific line of goods; also known as dealership or exclusive distributorship.
corporation
product trade name franchise
consolidation
business format franchise
A period of economic growth as measured by a rise in real GDP
expansion
franchise
merger
corporation
Time frame is stipulated by the organization
(a)
Operates internally
(a)
Aims to increase organizational competitiveness
(a)
sustains innovation
(a)
Big ideas that gets big investments "start a business knowing that one day it will change the world.'
(a)
A type of entrepreneur that is sometimes nonprofit
(a)
What kind of entrepreneur does a lawn care business fall under
(a)
The main difference between an entrepreneur and a intrapreneur is that the Intrapreneur is an employee within an organization and the entrepreneur is free and the leader of their organization.
True
False
The intrapreneur aims to create something new.
True
False
There is no time frame for your entrepreneur
True
False
Who is responsible for Facebook and Instagram...I am sure you can't spell his last name so his first name is ok.
(a)
What is Steve Jobs famous for (his invention)
(a)
a strategy can be considered
A road map
the wrong way
the right way
anything
Marketing Mix
Price
pramation
Pleasant
precede
Who is working every weekend?
Jqquan
Laura
Elijah
Dontarius
Who went to the Military Ball last weekend?
Ms. Daniels
Laura
Samonni
Keira
Who is going to Raleigh on business with their family for Christmas?
Edgar
Keysiah
Keira
Abby
How many of your classmates work at Zaxbys?
0
1
2
3
Who went skating over the weekend?
Caleb
Abby
Elijah
Edgar
How many days do we come to school?
365
175
180
200
Who plays soccer most Sundays?
Elijah
Edgar
Diane
Julian
what classmate works at Walmart?
Edgar
Myshawn
Tzsaria
Julian
Who is the tallest student in class?
Keysiah
Abby
Caleb
Ms. Daniels
Who runs track in our class?
Jaquan
Dontarius
Julian
Myshawn
Who plays 2k every single day?
Laura
Elijah
Roberson
Abby
Who has goats in our class?
Abby
Laura
Edgar
Caleb
What colleges are Ms. Daniels not affiliated with?
Mount Olive
NC State
WSSU
NC & AT
