Entrepreneurship Unit 1 Post Test

You have original and effective new ideas that meet consumer needs. What positive entrepreneurial trait do you possess?

Which section of a business plan gives details about a business’s core products and services?

SWOT stands for Strengths, Weaknesses, Opportunities, and Tactical awareness.

Raw data or the first-hand information such as interviews or surveys that you collect is called:

What is microeconomics?

What key phrase belonged to Henry Ford?

Which strategy would help you sustain a competitive advantage by strengthening product distribution?

Which aspect is a disadvantage of being an entrepreneur?

A SWOT Analysis is a strategy to spot opportunities.

Which franchise model legally obligates a franchisee to replicate all aspects of the franchisor’s business?

Franchise type in which one sells brands that another business manufactures & uses that brands logo to attract customers

Joshua is an entrepreneur who sells an innovative product that no one else can offer. In which market does he operate?

This type of leader motivates others and models ethical behavior (such as Walt Disney):

Which concept do businesses use to earn income?

Which business model is used by some of the software development companies that create apps for smart phones?

What is the term for the relationship between printer and paper?

Which business model motivates employees to recruit other salespersons/distributors who can sell the business’s products

You've run a boutique for 10 years and now offer an online boutique where customers can order online. Your business is:

This source provides entrepreneurs w/ expertise & knowledge about buying an existing business in return for commission?

People would use the ___________ before Alexander Graham Bell introduced the first practical telephone.

What is the primary motive of an entrepreneur?

What key phrase belonged to Walt Disney?

Which innovative method adapted by Henry Ford revolutionized the manufacturing industry?

James wants to start his own fast food restaurant. He is venturing into which market structure?

Which statement about entrepreneurs is true?

What key phrase belonged to Steve Jobs?

What key phrase belonged to Bill Gates?

Researching using existing or published information such as magazines, websites, or trade associations is called: