1 Unit Entrepreneurship

Question 1

Socially responsible business goal: maximize profits & possibly have positive impact on society

Accepted Answer

False

Question 2

Negotiating: come to a compromise with another party (customer, supplier, employee), usually $

Accepted Answer

True

Question 3

Idea of how things should be in future & communicates ideas to others is able to manage risk

Accepted Answer

False

Question 4

Product-driven: identify a problem, see an opportunity, come up with an idea to take advantage

Accepted Answer

True

Question 5

Managing risk means taking a calculated risk where chances for success > chances for failure

Accepted Answer

True

Question 6

Together with his brother, he formed the world’s largest producer of French fries/frozen foods

Accepted Answer

Wallace McCain

Question 7

An enterprising person is willing to take the same financial risks as an entrepreneur.

Accepted Answer

False

Question 8

Market-pulled: coming up with idea first, then looking for a marketing opportunity (research)

Accepted Answer

False

Question 9

Generating ideas: look ahead & project what you may need in finances, staffing, supplies, etc.

Accepted Answer

False

Question 10

The ability to manage time well and to get things done in an orderly and efficient manner

Accepted Answer

organizing

Question 11

Ability to adjust to change, whether in industry, workers, or with consumers is being flexible

Accepted Answer

True

Question 12

An inventor is someone who improves existing products or ways of doing things

Accepted Answer

False

Question 13

Being an entrepreneur wouldn't drastically change your life–it’s just like working a 9 to 5 job

Accepted Answer

False

Question 14

Someone who develops a network of contacts that can help with different issues that will arise

Accepted Answer

resourceful

Question 15

People who need the freedom to make their own decisions and like to be their own boss

Accepted Answer

independent

Question 16

Someone who has an inner need to achieve goals and feel a sense of accomplishment

Accepted Answer

perceptive

Question 17

Keep track of financial transactions as well as things like inventory & staffing information

Accepted Answer

recordkeeping

Question 18

Market-pulled: identify limited small town activities for youth & opening up a mini-putt course

Accepted Answer

True

Question 19

Owns one of Canada’s largest companies--involved in advertising, real estate, magazines & cars

Accepted Answer

Jim Pattison

Question 20

Successful entrepreneurs work hard at achieving goals & afterwards usually don’t set new goals

Accepted Answer

False

Question 21

He was Tim Horton’s partner and eventually took over the company when Tim Horton passed away

Accepted Answer

Ron Joyce

Question 22

The ability to interact with people & develop business relationships with them is networking

Accepted Answer

False

Question 23

Entrepreneurship: just owning your own business, not seizing opportunity meet consumers' needs

Accepted Answer

False

Question 24

Someone who has a positive attitude and is not discouraged by problems that may arise

Accepted Answer

optimistic

Question 25

Enterprising people usually do not like the responsibility of being their own boss

Accepted Answer

True

Question 26

Anticipate problems almost before they come up and handles them with creative ideas

Accepted Answer

resourceful

1 Unit Entrepreneurship

Questions 26

1 Unit Entrepreneurship

Questions 26