Chapter 1-3 Entrepreneurship Exam Review

Auto repair is an example of which type of business?

Which advantage does a general partnership have over a sole proprietorship?

The practice of giving employees the chance to try out new ideas within a company is called

Companies that sell to other companies are called

Which of the following is not a skill needed by an entrepreneur?

Farming is most like which type of business?

Which of the following is true about American entrepreneurs?

McDonald's is an example of a

An entrepreneur

A dot-com company is

By definition, an entrepreneur

Which of the following is not a risk of being an entrepreneur?

Business leaders create wealth by

Wholesalers are also known as

Which of the following is not generally a personal characteristic of a successful entrepreneur?

A business that sells goods directly to consumers on the Internet is a

A typical unit of sale for a wholesaler would be

You can recognize potential business ideas from which of the following sources?

 A small non-manufacturing business is defined as having fewer than how many employees?

Which of the following products is typically sold to manufacturing businesses?

___________ means the chance of losing your investment

An attitude is

Entrepreneurs have a great need for

Which of the following describes creative thinking?

The natural ability to perform a specific kind of task very well is referred to as having

Profit is a sign that an entrepreneur has added value to "scarce" _____that he uses

Which of the following is a reward of being an entreprenur?

A "green" company

The American economy is a free___________ system because anyone is free to start a business