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BBI 2O0 - Entrepreneurship Flashcards | StudBud
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BBI 2O0 - Entrepreneurship
BBI 2O0 - Entrepreneurship
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StudBud Administration
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Grade 10 Introduction to Business - Entrepreneurship
Flashcards
10 cards
F
Practice quiz
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Host live
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Questions
10
Answers
1
What do you need to consider about profitability?
How long will it take to break even
Does revenue exceed expenses
will the profit margin cover other expenses
all of the above
2
What grants an inventor a small fee every time their design is used.
Royalty
Licensing agreement
Copyright
Patent
3
What gives an inventor some exclusive right to produce/sell art/music/software/literature?
Licensing agreement
Copyright
Royalty
Patent
4
Use of new technology, materials, or processes to change a product, production, or service:
Reinvention
Creation
Innovation
Invention
5
Something created to meet consumer needs or wants is a:
Idea driven enterprise
Market driven enterprise
Consumer driven enterprise
6
What gives an inventor the sole right to make, use, or sell their product?
Copyright
Patent
Royalty
Licensing agreement
7
A product or service created from an invention or innovation is which of the following?
Idea driven enterprise
People driven enterprise
Marketing
Market driven enterprise
8
A product or process that has never been done before is the definition of which term?
Innovation
Invention
9
Which of the following personality traits is the best suited for an entrepreneur?
Apethetic
Procastination
Lazy
Hardworking
10
Changing packaging or design can be an innovation.
False
True
