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Entrepreneurship Flashcards | StudBud
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Entrepreneurship
Entrepreneurship
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Flashcards
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Questions
20
Answers
1
A Business Plan is a tool used to help an entrepreneur lower the risk of starting a business.
True
False
2
Federal Taxes: government collects this from your paycheck before you receive your take home pay. Taxes are used for:
City government
Roads & bridges
Day care
City pools
3
Thinking of starting a new business. I should buy a storefront first.
False
True
4
A balanced budget is when what you earn is equal to what you spend & save.
False
True
5
What is an entrepreneur?
a person who terrorizes or frightens others
a person who introduces something new or very different
a person who produces economic value, goods, or services
a person who organizes & manages any business at a big risk
6
What is an entrepreneur?
someone who invents their own product
a type of doctor
someone who starts their own business
someone who sells computers
7
An example of fixed expense:
Groceries
Entertainment
Vehicle: gas
Health Insurance
8
You are an entrepreneur if:
You start and run your own business.
You go to school.
You work for your parents.
You own a pet.
9
How do you earn income?
Money earned at a job
Money from savings
Money found
Money from gifts
10
An asset is:
Energy
Money
All these answers
Time
11
What are Needs in this list?
$550 dress for formal
Designer shoes
Lamborgini
Used car for work
12
Which is a characteristic of a successful entrepreneur?
Hard-working
Passionate
Motivated
Takes very little risk
13
A quality of a good entrepreneur is
Capable of making tough decisions
Being too nice
Ability to love
unable to adapt
14
An entrepreneur is
Innovator
All of the above
Organizer
Risk taker
15
What is startup capital
Money invested in a business
Equipment
Supplies
All of these
16
What is left after taxes is
Spending money
Take home pay
Wants
Food
17
The Hallmark of an entrepreneur is innovation
Hallmark is applicable only for Gold.
No
False
True
18
Housing is a fixed expense.
False
True
19
Entrepreneurs satisfy consumer demands for goods and services.
False
True
20
What is an entrepreneur?
Natural ability to do a particular type of work, well
A weird French word
Someone who creates and runs their own business
A work program, on the job training, in a business setting
