What is the main difference between a personal characteristic and a skill?

Skills are learned, characteristics are inherent qualities

What is the definition of an entrepreneur?

Someone who creates, owns, and potentially runs a business

Which of the following is a start-up expense for a food truck business?

Kitchen appliances & equipment to conduct her business

Which of the following is an advantage of starting your own business?

You have control over where and when you work

What role do entrepreneurs play in economics?

Entrepreneurs create the businesses to produce for economy

Which of the following is probably NOT an important point to include in a business pitch?

Detailed description of the meaning behind the company name

What is a fixed expense?

An expense that typically does not change month to month

Which of the following statements about take home pay is TRUE?

It is amount left over from your monthly paycheck after deductions

What is the best reason to study entrepreneurship?

Thinking like an entrepreneur helps you be a better student

Which of the following is NOT true about an entrepreneur?

Their salary is evaluated based on completing task

Which statement is the best description of a Value Proposition?

The features & benefits that make product or business unique

Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?

Judge each idea as realistic or not

What are the four parts of a SWOT Analysis?

Strengths, Weaknesses, Opportunities, Threats

Which of the following is NOT one of the four steps to preparing a sales forecast?

select organizational structure for your company

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Everfi Venture

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Everfi Venture

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Questions 25

Answers

1
What is the main difference between a personal characteristic and a skill?
You can learn personal characteristic, not a skill
People are born with business skills not characteristics
Skills are learned, characteristics are inherent qualities
Personal characteristics become skills over time
2
What is the definition of an entrepreneur?
Someone who owns a business & makes profit from the business
Someone who creates, owns, and potentially runs a business
Someone who manages a business.
None of the above
3
Which of the following is a start-up expense for a food truck business?
All of the above
Kitchen appliances & equipment to conduct her business
Gas
Cell phone bill
4
Which of the following is an advantage of starting your own business?
You are the decision maker, so there is little to no risk
During the start-up phase, you do not have to thin about funding
You have control over where and when you work
If you make a business plan, you know obstacles to expect
5
What could an entrepreneur do to try to improve a businesses' net profit?
increase number of cupcakes he sells
Decrease his fixed expenses
Increase prices
All of the above
6
What role do entrepreneurs play in economics?
Entrepreneurs create the businesses to produce for economy
Entrepreneurs borrow money from the economy
Entrepreneurs tell consumers what they should want of need
None of the above
7
Which of the following is probably NOT an important point to include in a business pitch?
Reasons why potential customers should care
Problems that the product or service solves
Detailed description of the meaning behind the company name
How product or service is different
8
Businesses are run by individuals working in the Business, Management and Admin Career Cluster who may manage....
All of the above
People
Systems
Resources
9
Which of these is NOT considered a skill?
Business Skills
Determination Skills
People Skills
Communication Skills
10
Did Pete’s business broke even? (meaning, covered its fixed expenses and become profitable)
not enough information
this is not the answer
yes
no
11
An example of an asset is:
All of the above
Time
Phone
Money
12
Which of the following is NOT necessarily a characteristic of successful entrepreneurs?
Comfort with risk
Creativity and Collaboration
Aggressiveness and Intensity
Initiative and Self-Direction
13
What is a fixed expense?
None of the above
It can be the same during some months, and different during other months
An expense that typically does not change month to month
An expense that typically varies from month to month
14
Which of the following statements about take home pay is TRUE?
It is the amount left over from your monthly paycheck before deductions
It is the amount you earn each month in income minus what you spend
It is the amount you earn each month in income minus what you save
It is amount left over from your monthly paycheck after deductions
15
What is the best reason to study entrepreneurship?
Thinking like an entrepreneur helps you be a better student
Knowing about entrepreneurship = you will never have a boss
none of the above
Entrepreneurs don't worry about grades
16
Which of the following is NOT true about an entrepreneur?
An entrepreneur gets to act as his own boss.
An entrepreneur has ownership in the business.
Their salary is evaluated based on completing task
An entrepreneur is responsible for success of their business
17
Which statement is the best description of a Value Proposition?
A part of the plan that identifies the market for product.
The features & benefits that make product or business unique
The cost of creating the product.
None of the above.
18
Which of the following is NOT a true statement about business plans?
They can help lower the risk of starting a new business.
They are created before starting a business.
They should include a overview of business goals.
They should never be revised
19
Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?
Draw Idea Maps
Challenge the Usual
Judge each idea as realistic or not
Think Backward
20
Microsoft Excel enables entrepreneurs to identify trends and organize and sort data into meaningful categories.
False
True
21
Your friend is developing a marketing plan for his new business. What should he put in the plan?
description of the people in his target market
where he wants to sell her product
The price of his product
All of the above
22
What are the four parts of a SWOT Analysis?
Strengths, Weaknesses, Obstacles, Threats
Strengths, Weaknesses, Opportunities, Threats
Strengths, Weaknesses, Options, Threats
Sales, Work ethic, Organization, Training
23
Which is NOT part of a consumer profile?
Buying Patterns
Psychographics
Demographics
Polygraphics
24
Which of the following is NOT one of the four steps to preparing a sales forecast?
select organizational structure for your company
estimate your future sales for a specific time period
review past sales or past trends in the industry
analyze company & market conditions using SWOT analysis
25
Click the career pathway below that doesn't fall within the Business, Management and Administration Career Cluster:
Entrpreneur
Business Executive
Electrician
Human Resources Manager

Everfi Venture Flashcards | StudBud

Everfi Venture

25 termsStudBud Administration480 plays

Everfi Venture

Flashcards25 cardsFPractice quizPHost liveL

Questions 25

Answers

1
What is the main difference between a personal characteristic and a skill?
You can learn personal characteristic, not a skill
People are born with business skills not characteristics
Skills are learned, characteristics are inherent qualities
Personal characteristics become skills over time
2
What is the definition of an entrepreneur?
Someone who owns a business & makes profit from the business
Someone who creates, owns, and potentially runs a business
Someone who manages a business.
None of the above
3
Which of the following is a start-up expense for a food truck business?
All of the above
Kitchen appliances & equipment to conduct her business
Gas
Cell phone bill
4
Which of the following is an advantage of starting your own business?
You are the decision maker, so there is little to no risk
During the start-up phase, you do not have to thin about funding
You have control over where and when you work
If you make a business plan, you know obstacles to expect
5
What could an entrepreneur do to try to improve a businesses' net profit?
increase number of cupcakes he sells
Decrease his fixed expenses
Increase prices
All of the above
6
What role do entrepreneurs play in economics?
Entrepreneurs create the businesses to produce for economy
Entrepreneurs borrow money from the economy
Entrepreneurs tell consumers what they should want of need
None of the above
7
Which of the following is probably NOT an important point to include in a business pitch?
Reasons why potential customers should care
Problems that the product or service solves
Detailed description of the meaning behind the company name
How product or service is different
8
Businesses are run by individuals working in the Business, Management and Admin Career Cluster who may manage....
All of the above
People
Systems
Resources
9
Which of these is NOT considered a skill?
Business Skills
Determination Skills
People Skills
Communication Skills
10
Did Pete’s business broke even? (meaning, covered its fixed expenses and become profitable)
not enough information
this is not the answer
yes
no
11
An example of an asset is:
All of the above
Time
Phone
Money
12
Which of the following is NOT necessarily a characteristic of successful entrepreneurs?
Comfort with risk
Creativity and Collaboration
Aggressiveness and Intensity
Initiative and Self-Direction
13
What is a fixed expense?
None of the above
It can be the same during some months, and different during other months
An expense that typically does not change month to month
An expense that typically varies from month to month
14
Which of the following statements about take home pay is TRUE?
It is the amount left over from your monthly paycheck before deductions
It is the amount you earn each month in income minus what you spend
It is the amount you earn each month in income minus what you save
It is amount left over from your monthly paycheck after deductions
15
What is the best reason to study entrepreneurship?
Thinking like an entrepreneur helps you be a better student
Knowing about entrepreneurship = you will never have a boss
none of the above
Entrepreneurs don't worry about grades
16
Which of the following is NOT true about an entrepreneur?
An entrepreneur gets to act as his own boss.
An entrepreneur has ownership in the business.
Their salary is evaluated based on completing task
An entrepreneur is responsible for success of their business
17
Which statement is the best description of a Value Proposition?
A part of the plan that identifies the market for product.
The features & benefits that make product or business unique
The cost of creating the product.
None of the above.
18
Which of the following is NOT a true statement about business plans?
They can help lower the risk of starting a new business.
They are created before starting a business.
They should include a overview of business goals.
They should never be revised
19
Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?
Draw Idea Maps
Challenge the Usual
Judge each idea as realistic or not
Think Backward
20
Microsoft Excel enables entrepreneurs to identify trends and organize and sort data into meaningful categories.
False
True
21
Your friend is developing a marketing plan for his new business. What should he put in the plan?
description of the people in his target market
where he wants to sell her product
The price of his product
All of the above
22
What are the four parts of a SWOT Analysis?
Strengths, Weaknesses, Obstacles, Threats
Strengths, Weaknesses, Opportunities, Threats
Strengths, Weaknesses, Options, Threats
Sales, Work ethic, Organization, Training
23
Which is NOT part of a consumer profile?
Buying Patterns
Psychographics
Demographics
Polygraphics
24
Which of the following is NOT one of the four steps to preparing a sales forecast?
select organizational structure for your company
estimate your future sales for a specific time period
review past sales or past trends in the industry
analyze company & market conditions using SWOT analysis
25
Click the career pathway below that doesn't fall within the Business, Management and Administration Career Cluster:
Entrpreneur
Business Executive
Electrician
Human Resources Manager