Chapter 1 Test Review Part 1

Eighty-nine percent of all U.S. businesses employ fewer than 20 people.

Your suitability for entrepreneurship is based on

Entrepreneurs who are eco-friendly have an_______ when introducing their product on the market.

An employee

Steve Jobs was voted out of Apple in 1985 because he did not exhibit this characteristic.

'I will learn more about starting my own business' is a SMART goal.

To determine if a business opportunity is realistic for YOU, you should find out

Running a business is difficult; many companies started by entrepreneurs go out of business.

An assessment of your interests is

Aptitude is the ability to

Setting specific financial goals before starting a business

Information about business opportunities is available from

Considered a social entrepreneur because he makes sure that his employees have health benefits.

Retail businesses sell products directly to the people who use them.

Which of the following is a retail business?

Started HARPO Entertainment Group, and paved the way for women in the entertainment industry.

Envisioned a home improvement store that offered one-stop shopping for the do-it-yourselfer.

This type of industry has the highest failure rate for startups.

Kickstarter is

Why aren't more entrepreneurs successful?

________ -- a possibility that arises from existing conditions. (example- Authenticity Jewelry)

Which of the following is a service business?

When an entrepreneurial business is successful, an employee will receive a large part of the profits.

Characteristics of successful entrepreneurs include

People who own, operate, and take the risk of a business venture

Jonathan Miller created Element Bars when

Disadvantages of entrepreneurship include

_______________-- thoughts or concepts that come from creative thinking (example- Twist-It)

To determine if a business opportunity is realistic for YOU, you should

Nonfinancial goals are important because they help set prices for products and services.