Entrepreneurship - Chapter 1

14) Entrepreneurs look at five basic ways of opportunity for business ideas. Which is not one of those five?

20) 7 rules for building a successful business are opportunity, critical thinking, team,financing with money from Credit

7) A company that has more than ________ employees and sales of more than $________ million per year is considered to

10) A for-profit enterprise with the dual goals of achieving profitability and attaining beneficial returns for society

4) When making an investment, always consider the ________, which is the cost of your next-best investment.

17) A business opportunity is an idea, plus ________.

11) Entrepreneurs that participate in activities to avoid harm to the environment or help protect it are engaged in ____

1) Products are tangible, meaning ________.

13) The economy of the United States is a free-enterprise system.

19) ________ is the sign that an entrepreneur has added value to the resources he or she is using.

16) The great economist Joel Schumpeter emphasized that innovation is the key to entrepreneurship. Which one creates?

12) Benefits of becoming an entrepreneur include independence, satisfaction, financial reward, self-esteem, contribution

18) A(n) ________ is a plan for how a business intends to go about its own performance and outdo that of its competition

2) Entrepreneurs are often both owners and ________.

5) The free-market system is also called ________.

15) Entrepreneurs view problems as a(n)________.

9) Which of the following is not a characteristic that is helpful for an entrepreneur to have?

8) The corporate equivalent of paying owners a portion of the business's profits is called a 

6) Most of the world's businesses are ________ businesses.

3) Entrepreneurship can be very challenging. Which is not a typical challenge of being an entrepreneur?