Basics of Entrepreneurship

_________ is another name for a business

The person who organizes a business, taking on the financial risk that is involved.

A type of business with two or more owners that share liability

________ is a tangible product that can be consumed

______ is where an owners financial liability is limited to a fixed sum amount.

_____ is an intangible product that is carried out by a process or activity

Which business type is easier to start up?

A type of business that has only one owner

Process of recognizing a need in a market to open a business & gathering all resources to do so

Good and services are

Which is a characteristic of a successful entrepreneur?

A type of business where stock of ownership is involved by a group of owners

Job specific skills that are necessary to the required work related taks to the job?

An advantage of this business is that the owner gets all the profits

Skills used to communiucate at work and the ability to work well with others

An advantage of this business type is that shareholders are only liable up to their investment

Which is a unique factor of an Entrepreneur?

_____ is a tangible product

____ is a intangible product

An advantage to this type of business is that decision making is shared between owners.