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Entrepreneurship Flashcards | StudBud
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Entrepreneurship
Entrepreneurship
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Questions
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Answers
1
Another term for computer skills that are essential in almost every business is__
Math skills
Human relation skills
Communication skills
Technical skills
2
As an entrepreneur you need to make only long-term goals.
True
False
3
An entrepreneur is someone who
has an idea for a business
only think of money
is not willing to take advice from others
think there is only one way to solve a problem
4
___ is curiosity about things that may affect a business and not being afraid to ask questions.
Responsible
Creative
Inquisitive
Persistence
5
An idea that has commercial value.
Venture
Opportunity
Small Business
Capital
6
The stage where finances are acquired.
Actualization
Harvesting
Resourcing
Concept Development
7
Entrepreneurs are always successful when starting a business.
True
False
8
The stage where future growth (5-year, 10-year) is planned.
Actualization
Concept Development
Harvesting
Resourcing
9
A brief description of the key points of the business plan.
Item Description
Executive Summary
Proposal
Trademark
10
An entrepreneur who believes in himself is ___
Creative
Self-confident
Independent
Goal-oriented
11
If an entrepreneur has a basic understanding of how the economy works he has___
Basic business skills
Communication skills
Technical skills
Math skills
12
A grand opening takes place during the Actualization stage.
False
True
13
An entrepreneur does not need technical skills.
False
True
14
The ability to get along with others and enjoy meeting and talking with them is an example of__
Basic business skills
Math skills
Technical skills
Human relation skills
15
Which of these is not considered a skill?
Determination skills
Math skills
Business skills
Human relations skills
16
An entrepreneur must have _____ to make decisions and solve problems every day.
Problem-solving and decision-making skills
Technical skills
Communication skills
Math skills
17
Sometimes referred to as a "mom and pop" business.
Small Business
Patent
Demographics
Venture
18
Data that describes a group of people in terms of their age, marital status and family size.
Demographics
Clientele
Population
Customer Base
19
Which of the following characteristics should a successful entrepreneur possess?
Persistent, risk-taking, self-confident, and creative
Pessimistic, satisfied, dependent and narrow-minded
Pessimistic, controlling, self-confident, and dependent
Persistent, complaining, negative, and irresponsible
20
Surveys and questionnaires are conducted in the Harvesting stage.
False
True
21
Another way to define an entrepreneur is a person who__
Takes risks in the hunt for new business opportunities
Is active in their community and encourages business owners
Provides entertainment to people in a variety of ways
Works for a large company creating new products
22
A proposal that describes a new business.
Business Plan
Marketing Plan
Executive Summary
Venture
23
Entrepreneurs who are constantly looking for new ways to solve problems are__
_.
Persistent
Responsible.
Creative
Self-confident
24
Which of the following is NOT true about an entrepreneur?
An entrepreneur acts as his own boss.
An entrepreneur has ownership in the business.
An entrepreneur is responsible for the business's success.
His salary is based on his ability to finish assigned tasks.
25
Being accountable for your actions means you are___
Responsible
Creative
Persistent
Inquisitive
26
The stage where the business is developed.
Actualization
Discovery
Concept Development
Harvesting
27
Entrepreneurs who work until the job is done are___
Persistent
Self-confident
Inquisitive
Creative
28
Being ___ means you make a plan of action and make decisions to help achieve that plan.
Risk-takers
Self-confident
Independent
Goal-oriented
29
Entrepreneurs who look for challenging opportunities are___
Self-confident
Risk-takers
Independent
Responsible
30
The process of starting and running a business.
Entrepreneurship
Corporation
Franchise
Partnership
31
Wealth in the form of money or property.
Patent
Venture
Capital
Opportunity
32
Systematic set of rules and procedures that guide the behavior of individual/business/culture.
Code of Business
Small Business
Code of Ethics
Opportunity
33
The stage where you should apply for loans, grants and financial assistance.
Actualization
Harvesting
Concept Development
Resourcing
34
Entrepreneurship is the responsibility of starting, organizing, and managing a business.
True
False
35
An example of an activity that happens during the Harvesting stage is _____
Seeking financial assistance
Gathering market data about the product
Considering opening a second location
Having a grand opening
36
Entrepreneurship is not risky.
True
False
37
The stage where you should consider patents, trademarks, or copyright protection.
Harvesting
Concept Development
Resourcing
Actualization
38
_ is wanting to make their own decisions, set their own schedule and work without supervision.
Self-confident
Goal-oriented
Independent
Risk-taker
39
Entrepreneurs are most often
Disorganized
Self-confident
Uninspired
Dependent
40
A good entrepreneur will___
Be willing to sell their soul for business
Put on a great show
Find a new or unusual way of doing business
Entertain others
41
Writing, speaking, and listening are___
Math skills
Technical skills
Communication skills
Human relations skills
42
The stage where ideas are generated.
Harvesting
Resources
Discovery
Concept Development
43
Exclusive rights granted to an inventor to manufacture, use or sell an invention is _____.
Copyright
Actualization
Patent
Trademark
44
An entrepreneur operates a business with the intention of earning a profit.
False
True
45
Basic arithmetic and knowledge of record keeping are examples of ___
Technical skills
Basic business skills
Math skills
Problem-solving and decision-making skills
46
To be successful, an entrepreneur must
neither answer is correct
both answers are correct
pay attention to new technology.
create strict rules on what can and cannot be done.
47
An entrepreneur always looks for others to take risks for him.
False
True
48
A person who undertakes the risk associated with creating, organizing and owning a business is_
an entrepreneur
a businessman
a company CEO
a firm's president