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Entrepreneurship Unit 1 Flashcards | StudBud
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Entrepreneurship Unit 1
Entrepreneurship Unit 1
20 terms
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StudBud Administration
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Introduction to Entrepreneurship Concepts.
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
To determine if a business opportunity is realistic, you should
take an aptitude test
set your non-financial goals
all of these
find out risks associated
2
This presents the chance of loss but no gain.
Speculative risks
Pure risks
Uncontrollable risks
Controllable risks
3
Which of the following is a service business?
hardware store
lumber mill
clothing store
travel agency
4
This is not an important type of insurance for your business.
life insurance
bankruptcy insurance
property insurance
workers' compensation
5
Investing in the stock market is an example of ______.
Controllable Risk
Speculative Risk
Pure Risk
Uncontrollable Risk
6
Which is a characteristic of a successful entrepreneur?
Self-confidence
Loyal
unmotivated
Self-control
7
An employee
works for someone else
owns a business
sets financials goals for a business
takes the risk of a business venture
8
Working long, irregular hours is _________
Disadvantage of entrepreneurship
Advantage of entrepreneurship
9
All businesses face the risk of
shoplifting
credit card fraud
employee theft
robbery
10
What type of risk is: a recession?
economic
natural
human
11
What type of risk is: a fire?
economic
human
natural
12
What type of risk is: inflation?
natural
human
economic
13
What type of risk is: an earthquake?
economic
human
natural
14
Your suitability for entrepreneurship is based on
where you live
how well you work with others
your commitment
your age
15
Every time a company vehicle goes out on the road there is an accident risk. This is what?
Speculative Risks
Controllable Risks
Pure Risks
Uncontrollable Risks
16
An evaluation of your strengths and weaknesses is a(n)
self-discipline
self-assessment
aptitude
advantage of entrepreneurship
17
This offers you the chance to gain as well as lose from the risk.
uncontrollable risk
controllable risk
speculative risk
pure risk
18
What type of risk is: shoplifting?
natural
economic
human
19
Pays for medical care and replaces a portion of lost wages for an employee injured on the job
disability
life insurance
workers' compensation
property insurance
20
Insurance protecting against loss due to negligence in professional services
workers' compensation
malpractice
disability
life insurance
