Entrepreneurship Answers

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An entrepreneur conducted many experiments in a project without success. What characteristic must this person have to succeed?

A
a dedication to hard work
B
a willingness to admit failure
C
an ability to learn from mistakes
D
an assumption of responsibility
2
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What led to Henry Ford’s success as an entrepreneur?

A
His personal wealth.
B
His innovative production methods.
C
His commitment to improving labor laws.
D
His desire to pay high wages.
3

Read the graph.

Question illustration
A
A company selling telephones most likely has only a 40 percent chance of surviving for at least four years.
B
A company offering physical therapy most likely has only an 80 percent chance of surviving for at least two years.
C
A company offering cleaning services most likely has only a 50 percent chance of surviving for at least eight years.
D
A company selling diabetes supplies has only a 60 percent chance of surviving for at least three years.
4

What is one way for an entrepreneur to decrease risk?

A
by mimicking popular products
B
by maintaining personal flexibility
C
by creating a strong business strategy
D
by developing reliable sources for materials
5

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

A
part of the management team.
B
responsible for organizing the business.
C
expected to contribute positively to society.
D
expected to dedicate the most hours to the business.
7

An entrepreneur is someone who

A
starts and runs a business.
B
is an employee of a business.
C
invents products for other businesses.
D
works for multiple developing businesses.
8

goalproblemloss

A
goal
B
problem
C
loss
9

An entrepreneur would most likely be a

A
low risk taker.
B
spontaneous person with an unclear vision.
C
person who works well alone.
D
person who has a brief work week.
10

What must an entrepreneur do after creating a business plan?

A
open the business
B
finance the business
C
file the right paperwork
D
identify an opportunity

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