Entrepreneurship Answers

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How are Bill Gates and Henry Ford similar? Check all that apply.

They both streamlined factory production.

They both became wealthy and successful.

They both helped better the lifestyles of others.

They both developed products that filled a human need or needs.

They both founded a company when they were very young.

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What is one way for an entrepreneur to decrease risk?

by mimicking popular products

by maintaining personal flexibility

by creating a strong business strategy

by developing reliable sources for materials

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

part of the management team.

responsible for organizing the business.

expected to contribute positively to society.

expected to dedicate the most hours to the business.

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goal

problem

loss

Read the graph.

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

The opening of new businesses peaked between 2007 and 2008.

More new businesses were started in 2006 than in 2005.

The number of new businesses remained constant between 2006 and 2009.

An entrepreneur would most likely be a

low risk taker.

spontaneous person with an unclear vision.

person who works well alone.

person who has a brief work week.

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

have sufficient confidence to succeed.

be willing to take personal responsibility.

have enough determination to work alone.

dedicate as many hours as needed to the work.

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