Font size
WorksheetsChapter 1 Review: Introduction to Entrepreneurship
Total questions: 24
Worksheet time: 12mins
The capacity and motivation to deploy a business venture that involves risk in order to make a profit.
Entrepreneurship
Entrepreneur
Entrepreneurial Mindset
Entrepreneurial
The art of taking financial risks in order to make a profit.
Entrepreneurship
Entrepreneur
Entrepreneurial Mindset
Entrepreneurial
An individual who founds and runs a business assuming all of the risks and rewards of the venture.
A. Entrepreneurship
B. Entrepreneur
C. Entrepreneurial Mindset
D. Entrepreneurial
A state of mind in which one conducts him/her self to entrepreneurial activities.
Entrepreneurship
Entrepreneur
Entrepreneurial Mindset
Entrepreneurial
Entrepreneurs abandon steady paychecks. This is known as a (a) that they accept.
Risk
Reward
Innovation
Start-up
Independence and enjoyment are potential (a) from entrepreneurship.
Risks
Rewards
Innovations
Start-ups
The greater the risk the greater the reward and vice-versa is known as (a) .
Risks
Rewards
Risk/Reward Tradeoff
Start-up Tradeoff
An organization that operates to aid in some social effort, they do not retain any profits from commerce.
Non-Profit
For-Profit
Profit
Venture Capital
Goods are (a) products that have monetary value.
Tangible
In-tangible
Profit
Rewarding
One can analyze an opportunity by all of the following except:
Competition
Domestic and International Market Scope
Self and Team Assessment
Distributing Assets
A commercial operation or company that satisfies needs in order to make a profit is known as a (a) .
Service
Good
Business
Innovation
A newly emerged business that is striving to develop a viable business model around a new product or service is known as a (a) .
Start-up Venture
New-found Business
Boot-Strap
Emerging Market
A market need is a necessity that the market can live without.
True
False
A service is a business that provides intangible products.
True
False
80% of entrepreneurs work less than 40 hours per week.
True
False
Money left after all costs of running a business are deducted from the total revenue is known as profit.
True
False
Less businesses are being born now than 30 years ago.
True
False
The entrepreneurial mindset involves which of the following characteristics?
Being innovative, taking risks, and seeking opportunities for growth.
Avoiding risks and preferring routine tasks.
Focusing only on short-term gains and ignoring new ideas.
Relying solely on others for direction and not taking initiative.
Which is an example of the entrepreneurial mindset.
Seeing and Creating Opportunities
Avoiding Risks at All Costs
Focusing Only on Existing Problems
Waiting for Instructions from Others
Which is an example of the entrepreneurial mindset?
Turning Ideas into Action
Ignoring Opportunities
Waiting for Others to Act
Avoiding Risks
Focusing Only on Problems
Which is an example of the entrepreneurial mindset?
Leading the Way
Following Others
Avoiding Risks
Ignoring Opportunities
Which is an example of the entrepreneurial mindset?
Using Resources
Ignoring Resources
Wasting Resources
Avoiding Resources
Hiding Resources
Which is an example of the entrepreneurial mindset?
Managing Risk
Ignoring Opportunities
Avoiding All Decisions
Focusing Only on Profits
Which is an example of the entrepreneurial mindset?
Collaborating
Procrastinating
Isolating
Ignoring feedback
Avoiding teamwork
