3.8 Entrepreneurship

Question 1

An entrepreneur would most likely be a

Revolt · Accepted Answer

person who works well alone.

Question 2

What was the main effect of entrepreneurship in China?

Revolt · Accepted Answer

Poverty noticeably declined.

Question 3

An entrepreneur must accept being accountable for the failure of the company because the entrepreneur is

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responsible for organizing the business.

Question 4

Which characteristic of being an entrepreneur could be seen as both a benefit and a drawback?

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financial risk.

Question 5

What is one purpose of writing a business plan before entering the market?

Question 6

What must an entrepreneur do after creating a business plan?

Revolt · Accepted Answer

finance the business

Question 7

An entrepreneur’s first business fails, but their second attempt at the business is succeeding. You can assume that

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they learned from their mistakes.

Question 8

A new business should be based on an entrepreneur's individual interests because the entrepreneur must

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dedicate as many hours as needed to the work.

Question 9

Read the graph.

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Fewer new businesses were started in 2010 than in other years.

Question 10

What led to Henry Ford’s success as an entrepreneur?

Revolt · Accepted Answer

His innovative production methods.

3.8 Entrepreneurship Answers