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BE Chapter 2 Your Potential as an Entrepreneur Flashcards | StudBud
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BE Chapter 2 Your Potential as an Entrepreneur
BE Chapter 2 Your Potential as an Entrepreneur
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Chapter 2 Review Quiz
Flashcards
21 cards
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Questions
21
Answers
1
One of the best ways to develop technical and business skills is
to get a job in a similar or related business.
to get a college degree in Business.
watch Shark Tank on TV.
interview buisness owners.
2
A role model is someone
whose attitudes and achievements are emulated.
a famous movie star.
an actor who does modeling on the side.
you never want to be like.
3
Creative Entrepreneurs
usually have a strong background in the arts.
look for new ways to solve old problems.
bring art skills to the business.
are good at developing Marking Plans.
4
You can strengthen your entrepreneurial characteristics by
all of the above.
reading.
writing.
observing.
5
Which of the following is not a draw back to owning your own business?
Long working hours.
Uncertain income.
Opportunity to be creative.
Competition.
6
Having basic business skills does
not
include
understanding the fundamentals of marketing.
having good social skills.
knowing the fundamental concepts of finance.
how the economy works.
7
One of three steps you would NOT use to gain competency in foundational skills is
put the skill to work in real-world or simulated situations.
assess the results you wanted, if not how would you improve?
to learn the techniques needed to use the skill.
to give up and hire someone with the skill.
8
The rivalry among businesses for consumer dollars is called
a price war.
bad luck.
market penetration.
competition.
9
The difference between investment and capital is
nothing.
investment is money loaned to you.
capital includes everything along with money.
that capital is only equipment.
10
Which of the following would not be a reward of owning your own business?
personal satisfaction
prestige
uncertain income
independence
11
To develop your 'achiever' characteristics you would NOT
accept less than excellence from you or others.
write your goals down.
set out to be the best at what ever you do.
view your setbacks as opportunities to learn and grow.
12
A business owner's earnings are limited only by
taxes
customer demand
debt
the potential of their business
13
Research reveals that 62% of entrepreneurs had
jobs when they were young.
parents or close relatives with owned a business.
completed a college degree
a high school diploma or less.
14
Which of the following would not be a foundational skill of an entrepreneur?
Math Skills
Enthusiastic
Decision-making skills
Communication skills
15
A person with a record of successes is called
extraordinary.
reliable.
an achiever.
unusual.
16
A set of characteristics or qualities that identifies a type or category of a person is called
a profile.
a marketing profile.
Labeling.
personality traits.
17
It is possible to develop your entrepreneurial characteristics.
False
True
18
One of the challenges of owning your own business is
whether to own or lease a company car.
how you will spend your extra money earned.
which family members to hire.
that you are fully responsible for everything.
19
The amount of money a person puts into their business is called
investment.
capital.
cash outlay.
seed money.
20
The difference between Entrepreneurial Characteristics and Skills is
that skills are natural and you have them or you don't.
that Characteristics are learned.
Char. are distint. traits and qualities, skills are learned.
really no difference.
21
One of the biggest rewards to owning a business is
being your own boss
prestige
having job security
becoming rich
