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Entrepreneurship Flashcards | StudBud
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Entrepreneurship
Entrepreneurship
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Flashcards
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Questions
48
Answers
1
_ is wanting to make their own decisions, set their own schedule and work without supervision.
Self-confident
Risk-taker
Independent
Goal-oriented
2
An entrepreneur who believes in himself is ___
Self-confident
Creative
Goal-oriented
Independent
3
Which of the following characteristics should a successful entrepreneur possess?
Persistent, risk-taking, self-confident, and creative
Pessimistic, controlling, self-confident, and dependent
Persistent, complaining, negative, and irresponsible
Pessimistic, satisfied, dependent and narrow-minded
4
Exclusive rights granted to an inventor to manufacture, use or sell an invention is _____.
Copyright
Trademark
Actualization
Patent
5
An entrepreneur is someone who
only think of money
is not willing to take advice from others
has an idea for a business
think there is only one way to solve a problem
6
An example of an activity that happens during the Harvesting stage is _____
Gathering market data about the product
Seeking financial assistance
Considering opening a second location
Having a grand opening
7
Wealth in the form of money or property.
Capital
Opportunity
Patent
Venture
8
Surveys and questionnaires are conducted in the Harvesting stage.
True
False
9
Entrepreneurs who look for challenging opportunities are___
Risk-takers
Responsible
Self-confident
Independent
10
The process of starting and running a business.
Corporation
Partnership
Franchise
Entrepreneurship
11
An entrepreneur operates a business with the intention of earning a profit.
False
True
12
As an entrepreneur you need to make only long-term goals.
False
True
13
Another way to define an entrepreneur is a person who__
Takes risks in the hunt for new business opportunities
Works for a large company creating new products
Is active in their community and encourages business owners
Provides entertainment to people in a variety of ways
14
The stage where you should apply for loans, grants and financial assistance.
Resourcing
Actualization
Harvesting
Concept Development
15
Which of these is not considered a skill?
Determination skills
Business skills
Math skills
Human relations skills
16
Entrepreneurs who work until the job is done are___
Creative
Inquisitive
Persistent
Self-confident
17
Being accountable for your actions means you are___
Inquisitive
Persistent
Responsible
Creative
18
To be successful, an entrepreneur must
neither answer is correct
both answers are correct
pay attention to new technology.
create strict rules on what can and cannot be done.
19
Which of the following is NOT true about an entrepreneur?
An entrepreneur is responsible for the business's success.
His salary is based on his ability to finish assigned tasks.
An entrepreneur acts as his own boss.
An entrepreneur has ownership in the business.
20
An entrepreneur always looks for others to take risks for him.
False
True
21
Entrepreneurs are always successful when starting a business.
False
True
22
Entrepreneurs are most often
Uninspired
Disorganized
Dependent
Self-confident
23
The ability to get along with others and enjoy meeting and talking with them is an example of__
Math skills
Human relation skills
Basic business skills
Technical skills
24
Being ___ means you make a plan of action and make decisions to help achieve that plan.
Independent
Goal-oriented
Self-confident
Risk-takers
25
The stage where you should consider patents, trademarks, or copyright protection.
Resourcing
Actualization
Harvesting
Concept Development
26
The stage where finances are acquired.
Concept Development
Resourcing
Actualization
Harvesting
27
A proposal that describes a new business.
Executive Summary
Business Plan
Marketing Plan
Venture
28
Basic arithmetic and knowledge of record keeping are examples of ___
Technical skills
Problem-solving and decision-making skills
Math skills
Basic business skills
29
A good entrepreneur will___
Entertain others
Be willing to sell their soul for business
Put on a great show
Find a new or unusual way of doing business
30
Another term for computer skills that are essential in almost every business is__
Math skills
Human relation skills
Communication skills
Technical skills
31
An entrepreneur does not need technical skills.
True
False
32
Entrepreneurs who are constantly looking for new ways to solve problems are__
_.
Creative
Persistent
Responsible.
Self-confident
33
The stage where ideas are generated.
Resources
Harvesting
Discovery
Concept Development
34
An idea that has commercial value.
Venture
Small Business
Capital
Opportunity
35
Writing, speaking, and listening are___
Math skills
Human relations skills
Communication skills
Technical skills
36
The stage where the business is developed.
Concept Development
Discovery
Actualization
Harvesting
37
A brief description of the key points of the business plan.
Item Description
Trademark
Proposal
Executive Summary
38
The stage where future growth (5-year, 10-year) is planned.
Harvesting
Concept Development
Actualization
Resourcing
39
Sometimes referred to as a "mom and pop" business.
Demographics
Venture
Small Business
Patent
40
An entrepreneur must have _____ to make decisions and solve problems every day.
Problem-solving and decision-making skills
Technical skills
Math skills
Communication skills
41
If an entrepreneur has a basic understanding of how the economy works he has___
Math skills
Technical skills
Basic business skills
Communication skills
42
Entrepreneurship is the responsibility of starting, organizing, and managing a business.
True
False
43
Entrepreneurship is not risky.
False
True
44
A person who undertakes the risk associated with creating, organizing and owning a business is_
a businessman
a company CEO
a firm's president
an entrepreneur
45
A grand opening takes place during the Actualization stage.
True
False
46
Data that describes a group of people in terms of their age, marital status and family size.
Customer Base
Clientele
Population
Demographics
47
Systematic set of rules and procedures that guide the behavior of individual/business/culture.
Small Business
Opportunity
Code of Business
Code of Ethics
48
___ is curiosity about things that may affect a business and not being afraid to ask questions.
Persistence
Creative
Responsible
Inquisitive