WorksheetsUnit Quiz 1: Intro to Entrepreneurship
Total questions: 8
Worksheet time: 4mins
Entrepreneurship is NOT (check ALL that apply):
a get-rich-quick scheme
a road to becoming famous
a viable lifestyle for many people
easy
Small Business
Companies or ventures that are focused on a single product or service that the founders want to bring to market
A firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1,500 employees). It is a privately owned corporation, partnership, or sole proprietorship that has fewer employees and revenue than a corporation or regular sizes business
A method of distributing products or services involving a franchisor, who established the brand's trademark or trade name and a business system with a franchisee who pays royalty and an initial fee for the right to do business under that name.
Startup
A method of distributing products or services involving a franchisor, who established the brand's trademark or trade name and a business system with a franchisee who pays royalty and an initial fee for the right to do business under that name.
A firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1,500 employees). It is a privately owned corporation, partnership, or sole proprietorship that has fewer employees and revenue than a corporation or regular sizes business
Companies or ventures that are focused on a single product or service that the founders want to bring to market. It is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model.
What is a Franchise?
A method of distributing products or services involving a franchisor, who established the brand's trademark or trade name and a business system with a franchisee who pays royalty and an initial fee for the right to do business under that name.
Companies or ventures that are focused on a single product or service that the founders want to bring to market.
A firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1,500 employees). It is a privately owned corporation, partnership, or sole proprietorship that has fewer employees and revenue than a corporation or regular sizes business.
Which of the following best describes a 'Scalable Business Model'?
A business model that allows for increased revenues with minimal incremental cost.
A business model that requires significant investment for every unit of product or service sold.
A business model that is not dependent on the number of units sold.
What is the primary difference between a 'Startup' and a 'Small Business'?
A Startup is a new business, while a Small Business can be any age.
A Small Business is focused on a single product or service, while a Startup is typically more innovative and has a broader focus.
A Startup is typically focused on growth and scalability, while a Small Business is typically more focused on profitability and stability.
