Entrepreneurship and Business Ownership

business owned and operated by it’s user-members to supply themselves with goods and services.

willing to work until a job is done, no matter how long it takes.

As an entrepreneur, the amount of time you spend working is typically

Which of the following is NOT one of the seven parts of a business plan?

high expectations

Describes your product or service and how it is different from similar products or services

doers instead of spectators, they take action

The following is not one of the methods for determining the feasibility of a business idea.

energetic and passionate about their pursuits

Business owner can be forced to use personal money and items to pay the debts of the business.

Business is considered a type of "person" ("entity") under the law and  has limited liability

believes in themselves

At least two individuals share the management, profit and liability

As an entrepreneur, the amount of money you receive from your company

once they achieve their goals, they start looking for new challenges

Identifies who will be buying your product or service and why.

want to make their own decisions

What is NOT one of the 3 C's related to business plans.

When a business encourages employees to be creative within the company, the practice is called 

take responsibility for their decisions and actions

An individual owns the business, collects all profit, and has unlimited liability for its debts

An executive summary is a one- or two-page report describing 

set and achieve goals

conduct research and ask questions to solve problems

Which of the following is not a risk of an entrepreneur?

look for new ways to solve old problems

___ is not a trait of entrepreneurs.

What is a dot-com company?

What is possibly the biggest reward of becoming an entrepreneur?

Describes how you will find the initial money, and estimates costs and profits for the business

Business owned by a group that acts as if it were a single person, separate from it’s owners.

take risks but they are not reckless

An entrepreneur