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