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Entrepreneurship Chapter 1 Flashcards | StudBud
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Entrepreneurship Chapter 1
Entrepreneurship Chapter 1
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Chapter 1
Flashcards
14 cards
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Practice quiz
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Questions
14
Answers
1
__________ businesses generate fresh produce and other farm products.
wholesale
retail
mining
agricultural
2
The process of running a business on one’s own is called __________.
owner
entrepreneurship
stockholder
employee
3
Entrepreneurial opportunities tend to disappear completely during downturns in the economy.
False
True
4
More than half of all new businesses do not survive beyond four years.
True
False
5
People go into business for themselves because
they want to work at home but still earn an income
all of the above
they hope to pursue a personal dream
they want to set their own schedules
6
Small firms with less than 500 employees represent about __ % of all businesses in the US
99
75
50
25
7
Almost all entrepreneurs are middle-aged people with prior business experience
True
False
8
Which of the following would NOT be considered a desirable characteristic of a good team member
committed
cooperative
creative
confrontational
9
Large businesses create more jobs than small businesses
True
False
10
The first step in the problem-solving model is to __________ the problem.
identify various solution
define the problem
gather info
take action
11
The ability to learn a particular kind of job is called __________.
attitude
entrepreneurship
aptitude
skill set
12
One major advantage of being an entrepreneur is that
all of the above are advantages of being an entrepreneur
entrepreneurs can choose a business that interests them
entrepreneurs do not need to work with anyone else
entrepreneurs are guaranteed to make large sums of money
13
The FINAL step of the problem-solving model is to
gather information
take action
select the best option
evaluate the action
14
Absolutely anyone can be a successful entrepreneur.
False
True
