Financial Capabilities refers to...

having good math skills to manage money

a simplified version of the final product

money made after costs are subtracted

to try something again once you have new information

What is a 'social enterprise'?

a business that trades to tackle social problems

generate lots of ideas that might solve a problem

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Entrepreneur

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Questions 16

Answers

1
Financial Capabilities refers to...
making lots of money really fast
having good math skills to manage money
becoming a millionaire
being able to work in a bank
2
Which of the following are Enterprise Skills?
Problem Solving
Teamwork
Communication
All of these
3
A variable cost never changes regardless of how much you buy or sell.
False
True
4
What is a prototype?
a simplified version of the final product
a final product that solves a problem
an idea that you are thinking about
the amount of money your product will make
5
It costs $3.50 to make a plate of pancakes. What is a reasonable selling price?
$3.00
$6.00
$25.00
$3.60
6
What is profit?
Money from selling things
money made after costs are subtracted
money paid to staff for working
cost of making something
7
What is 'iterate'?
to try something again once you have new information
to rate your product against all the others on the market
A marketing strategy to get customers
A word that is made up
8
What is a 'social enterprise'?
a business that trades to tackle social problems
a social venue where people hang out
an enterprise that is just for fun
a social project that makes profit
9
Ideate means...
find one simple solution that will fix everything
generate lots of ideas that might solve a problem
make a decision and solve a global issue
don't think too hard or it will be to complicated
10
An empathy interview...
lets you understand the user
makes you sad
lets you solve the users problems
makes you happy
11
If 10 plastic cups cost $1.00 - how much for 1 cup?
20c
$1.00
10c
50c
12
A 'user statement' has the following components...
solutions, insights, needs
insights, outsights, wants
needs, wants, profit
user, needs, insights
13
Which of the following is a VARIABLE COST?
rent
wages
insurance
ingredients
14
Which of the following is NOT part of the Design Thinking Process
Ideate
Test
Prototype
Solve
15
Having an entrepreneurial mindset means...
use mistakes for learning and progressing
seeking out and solving problems
all of these
using creativity to develop ideas
16
Fixed Costs stay the same regardless of how much you buy or sell.
True
False

Entrepreneur Flashcards | StudBud