entra exam study cards

Which of the following is an advantage of starting your own business?

You have control of where and when you work.

Which of these is NOT part of a consumer profile?

poly-graphics

what is the def of an entrapanuer?

someone who creates, owns, and runs a business.

Which of the following is NOT necessarily a characteristic of successful entrepreneurs?

aggressiveness and intensity

What can be considered to be not a skill?

determination skills

an example of an asset is?

time, money, and transportation

Which of the following is NOT a creative thinking exercise entrepreneurs use to generate ideas?

Judge each idea as realistic or not.

Which of the following is a fixed expense for Maria's sandwich food truck?

Salaries, truck insurance, advertising

Which of the following is NOT true about an entrepreneur?

an entuepreneur's salary is based on their ability to complete the task assigned to them.

Which of the following is NOT a true statement about business plans?

They should never be revised.

While being an entrepreneur can be the right career choice for many, some may not feel that starting a business is for them. What is the best reason to study entrepreneurship?

Thinking like an entrepreneur can make you a better student and employee, no matter what your job is.

Which of the following is a start-up expense for Maria's food truck?

Appliances and other tool needed to operate her truck.

Sharon realizes that she needs additional research before she approaches potential investors. What kind of research should she do to effectively evaluate her potential business opportunity?

Conduct a market research to determine if her business idea meets the needs and wants of consumers.

George and Miguel want to know more about their local and online competitors and about the retail industry. What is the best way for them to find all of this information?

Do research online about shoe stores in their local area and talk to people that they know that have experience in that area.

What role do entrepreneurs play in economics?

Entrepreneurs create the businesses that produce the product and services that the consumer wants or needs.

Sharon is thinking about opening a bakery. She knows she wants to set her own hours, reduce her stress and make a profit. But she still has a lot to think through. Which of the following would NOT be a good early step?

Immediately buying a storefront property.

What is the main difference between a personal characteristic and a skill?

Skills can be learned and developed but personal characteristics are inherited quality's within.

George and Miguel are considering opening up a shoe store but first need to do market research. Which one of these is NOT part of the market research process?

Start promoting their shoe store to people in the neighborhood.

What are the four parts of a SWOT Analysis?

Strengths, weaknesses, opportunity's, threats.