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BDI3C Unit 1 Review Flashcards | StudBud
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BDI3C Unit 1 Review
BDI3C Unit 1 Review
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Flashcards
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Questions
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Answers
1
An enterprising person is always willing to take the same financial risk as an entrepreneur.
True
False
2
What triggers the entrepreneur to come up with a new idea?
All the options
A product/service becoming obsolete
Changes in consumer wants/needs
Changes in technology
3
Which of the following is NOT a Want
Gas for your car
iPhone 12
A winter jacket
King size bed
4
There are many characteristics of entrepreneurs. Which of the following is NOT a desirable characteristic?
Impulsiveness
Self Confidence
Creative
Competitive
5
A Characteristic makes up a person’s personality, while a Skill is something that is developed
True
False
6
Intrapreneurship is:
Entrepreneurship within a company
When you innovate a product rather than invent a product
Entrepreneurship without being willing to take financial risk
The same as entrepreneurship, but they are introverted
7
A reason why someone may choose NOT to start their own business is:
Potential to make a lot of money
Challenge yourself
You are your own boss
Often making decisions by yourself
8
The 3 basic entrepreneurial motivations are:
Power, Stability, Control
Achievement, Stability, Affiliation
Achievement, Power, Affiliation
Achievement, Affiliation, Control
9
An innovation is NOT...
Cordless phone
Air Jordans
The light bulb
iPod
10
Developing a solution to a problem and taking advantage of it is an example of:
Product-Driven Opportunity
Market-Pulled Opportunity
Internal Motivation
External Motivation
11
There are many classifications of ventures. Food Bank of Waterloo Region is an example of:
Not-For-Profit, Service, Physical, Local
Not-For-Profit, Goods, Virtual, Provincial
For-Profit, Service, Physical, Provincial
For-Profit, Goods, Physical, Local
12
Entrepreneurs thrive on accomplishment more than power.
True
False
13
An example of an internal motivator is:
Money
Grades
Pride
Career
14
Entrepreneurs are:
Gamblers
Managers
Agents of Change
Administrators
15
Samsung's discovery of a need and creating a product to meet that need is an example of:
Market-Pulled Opportunity
Internal Motivation
External Motivation
Product-Driven Opportunity
16
Which of the following is NOT one of the 6 principles of CSR?
Participating in price discrimination
Protect the environment
Beingtruthful in advertising
Providea safe and healthy work environment
17
One of the contributions entrepreneurs make to society is:
Providing new ways to spend money
Competition resulting in higher prices
Creating new ventures that are just different ways of doing the same thing
Finding new ways of making products and services available to people
18
Entrepreneurs are Born.
False
True
19
The new way of looking at social responsibility is all about:
Considering how much profit is going to be made
Considering the employees
Considering the legal ramifications
Considering the community
20
Which is a drawback of being an entrepreneur?
Self satisfaction
Strained relationships
You could go bankrupt
Can change consumer habits
21
Successful entrepreneurs work hard at achieving goals & afterwards usually don’t set new goals
False
True
22
Being an entrepreneur wouldn't drastically change your life–it’s just like working a 9 to 5 job
False
True
23
An entrepreneur is...
Someone who sets up a business
A funny French word....
Someone who sets up a business taking financial risks
Someone who sets up a business taking financial risks to try & make profit
