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Shark Tank 1 Flashcards | StudBud
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Shark Tank 1
Shark Tank 1
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Chapter 1 quiz, Shark Tank - Jump Start Your Business
Flashcards
20 cards
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Practice quiz
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Host live
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Questions
20
Answers
1
Best indicator of success is how well the entrepreneur did in high school rather than college.
True
False
2
Is it a myth or a fact? Entrepreneurship runs in the family.
Myth
Fact
3
Not wanting to work for someone else is a good reason to become an entrepreneur.
True
False
4
________________________________ is a important when becoming a entrepreneur.
All of these
Back-up plan
Objectivity
Optimism
5
A small business is defined as having
more than 1000 workers
less than 50 workers
less than 500 workers
there is no limit
6
Entrepreneurs need to be wealthy to start.
False
True
7
Who was James Truslow Adams?
1st entrepreneur
first put the two words, American Dream, together
1st to put the words "free enterprise" together
first to adopt middle class economy
8
The average cost a start-up business is
$15-20,000
$25-50,000
$75-100,000
$50-$75,000
9
Roughly what percent of American workers have considered becoming an Entrepreneur?
15%
25%
40%
50%
10
The best time to start up a new business is during a recession.
False
True
11
___________________ of new companies fail within 5 years.
50%
35%
60%
25%
12
Today, _____________________ people are employed in a "small business".
40 million
200 million
60 million
100 million
13
Which age group has a higher rate of entrepreneurial activity?
35-40
20-34
41-54
55-65
14
During a recession your start up cost are higher.
True
False
15
Which of the following is not a challenge for the entrepreneur?
ideas
time
skills
training
16
On average, entrepreneurs make more working for themselves than working other jobs.
False
True
17
The start-up money for an entrepreneurial venture usually comes from
friend
a relative
the bank
the entrepreneur
18
Myth or Fact: Entrepreneurs skills are learned.
Fact
Myth
19
Myth or Fact: You can assess potential by how well the entrepreneur did in college.
Fact
Myth
20
The best thing about being your own boss is
ownership
shorter hours
less stress
less responsibility