PreTest – Intro to Entrepreneurship

All but which of the following is considered a myth associated with entrepreneurship?

The steps involved in entrepreneurial processes include all but one of the following?

An entrepreneur is one who creates a new business in the face of risk and uncertainty, for the purpose of achieving profit and growth, by identifying opportunities and assembling the necessary resources to capitalize on those opportunities.

( _ ) is an entrepreneur’s best insurance against launching a business destined to fail or mismanaging a potentially successful company.

Factors that set a company apart from its competitors and gives it a unique position in the market is its…

Without a clear picture of its target market, a small company will try to reach almost everyone and usually ends up appealing to almost no one.

Natasha revolutionized the fast food industry by using the “Speedee Service System” at his McDonald’s restaurants. This system was new, original, and groundbreaking.  She was a successful entrepreneur because she was:

Hannah discovered that people in her town wanted to buy books and there was not a bookstore.  When Hannah decided to start a business to sell books in her town, she….

A marketing plan should,

When creating the “Teen Club,” Kat and Dave wanted to know what teens liked. They gathered data about what teens preferred in different products and services to make their club better.  They were conducting:

The money Beatrice has remaining after she has sold all of her sweaters and paid her expenses is called?

In contrast to an entrepreneur, a venture capitalist is a professional money manager who makes risk investments from a ……… of capital to obtain a high rate of return.

All of the following are characteristics shared by successful entrepreneurs EXCEPT:

_____ of the 26 million businesses in the Unites States are owned by women, minorities, seniors, and young people.

Jacl is an entrepreneur and has opened his first retail business. Jack has to take on many different positions such as a manager, a salesperson, and an accountant. Which of the following skill sets BEST describes Jack’s skill set in this scenario?

What is a disadvantage of entrepreneurship?

A reliable source of general business start-up information is…

What is a trend that affects the growth of entrepreneurial ventures?

In what time period did ‘true entrepreneurship’ manifest?

Social entrepreneurs develop products and services that solve social needs and problems.