Entrepreneurship and Business Ownership

business owned and operated by it’s user-members to supply themselves with goods and services.

What is NOT one of the 3 C's related to business plans.

energetic and passionate about their pursuits

believes in themselves

set and achieve goals

high expectations

___ is not a trait of entrepreneurs.

Identifies who will be buying your product or service and why.

The following is not one of the methods for determining the feasibility of a business idea.

look for new ways to solve old problems

want to make their own decisions

As an entrepreneur, the amount of money you receive from your company

At least two individuals share the management, profit and liability

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

What is a dot-com company?

Business owned by a group that acts as if it were a single person, separate from it’s owners.

Describes your product or service and how it is different from similar products or services

take responsibility for their decisions and actions

take risks but they are not reckless

Business is considered a type of "person" ("entity") under the law and  has limited liability

doers instead of spectators, they take action

Which of the following is NOT one of the seven parts of a business plan?

willing to work until a job is done, no matter how long it takes.

An entrepreneur

When a business encourages employees to be creative within the company, the practice is called 

As an entrepreneur, the amount of time you spend working is typically

once they achieve their goals, they start looking for new challenges

An individual owns the business, collects all profit, and has unlimited liability for its debts

What is possibly the biggest reward of becoming an entrepreneur?

Business owner can be forced to use personal money and items to pay the debts of the business.

An executive summary is a one- or two-page report describing 

Describes how you will find the initial money, and estimates costs and profits for the business

conduct research and ask questions to solve problems