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Entrepreneurship Strand 1 Flashcards | StudBud
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Entrepreneurship Strand 1
Entrepreneurship Strand 1
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StudBud Administration
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Entrepreneurship Strand 1 for High School
Flashcards
22 cards
F
Practice quiz
P
Host live
L
Questions
22
Answers
1
Businesses that generate their revenue directly from their website
Web-Based Businesses
Bootstrapping
Online
SCORE
2
GDP
Great Domestic Product
Gross Domestic Product
Gross Demand Price
Grand Domestic Product
3
Risks of Entrepreneurship
Be your own boss
Doing something you enjoy
Having the opportunity to be creative
Working long hours
4
What is the NX in
GDP = C + I + G + NX
Net Exports
Net recievables
Net Sales
Net Income
5
An improvement of an existing technological product, system, or method of doing something
Startup
innovation
pivot
ideas
6
What is the G in
GDP = C + I + G + NX
Global
Gain
Government Spending
Gross
7
Rewards of Entrepreneurship
Uncertain Income
Work Long Hours
Be your own boss
Being fully responsible
8
What is the I in
GDP = C + I + G + NX
Investment
Interest rate
Industrial
Idea
9
Money left after all the expenses of a business have been deducted from the income
Profit Motive
Expenses
Revenue
Motive
10
entrepreneurship addressing an environmental problem/need
Social Entrepreneurship
Intrapreneurship
Lean Startup
Green Entrepreneurship
11
approach to business development that is based on the principles of lean production
lean startup
crowdfunding
intrapreneurship
enterprise
12
substantive change to one or more of the 9 business model canvas components
change
abundance
switch
pivot
13
What is the C in
GDP = C + I + G + NX
Contingent
Consumption
Corporation
Commerce
14
capacity and willingness to develop, organize and manage a business, with all of its risks
Intrapreneurship
Development
Entrepreneurship
Ownership
15
Someone inside an existing organization sees an opportunity for a product/service and makes it
Demand
Owner
Intrapreneurship
Entrepreneurship
16
Economic benefits of Entrepreneurship
keep society the same
Principle source of venture capital
decrease productivity
Provide jobs, turn demand into supply
17
using consumers to develop and market products, and earn funding
Crowdsourcing/Crowdfunding
Personal Funding
Bootstrapping
18
product with enough features to satisfy early customers and provide feedback for development
Lean Startup
Bootstrapping
Minimum Viable Product
Product
19
Advantages of Purchasing an existing business
Already has customers, suppliers and procedures
Capital is required
May be for sale because not making money
Serious problems may be inherited
20
Cov. Role in Entrepreneurship
Taxes
Loans, Grants, Education, Training
Government dosen't support Entrepreneurship
Imports and Exports
21
pursuance of innovative ways to solve pressing social problems
Social Entrepreneurship
Green Entrepreneurship
Intrapreneurship
Lean Startup
22
Disadvantages of Purchasing an existing business
May train the new owner
Financial arrangements can be easier
Capital is required
Already has customers, suppliers and procedures
