3.01 Entrepreneurs

For example

a business entrepreneur might design Web sites, create and sell beauty products, or teach swimming lessons.

For example

a social entrepreneur might lead nature appreciation tours, provide recyclable alternatives to common products, or start a theater program for at-risk youth.

product-based business

is a business that primarily sells products, such as greeting cards or video games.

service-based business

is a business that primarily sells services, such as swimming lessons or dog walking.

entrepreneur

is a person who starts his or her own business, instead of working for someone else.

product

is something a person can create and sell to other people, such as a t-shirt, cake, or painting.

service

is something a person can do for other people, such as babysitting, tutoring, or landscaping.

business entrepreneur

sells products or services to make a profit.

social entrepreneur

starts a business or organization that is meant to improve society in some way.

Which of these are examples of entrepreneurs? (Select five answers.)

Carl grows organic fruits and vegetables and sells them to the local grocery market Terry creates beaded jewelry and sells it at the local flea market. John and a group of friends start a service to deliver meals to the elderly. Alexis is the most popular babysitter in the neighborhood. Eugene designs such beautiful Web sites that other people start paying him to design sites for their businesses.

Some companies provide both products and services, such as a landscaping business that also sells plants or fertilizer, or a salon that cuts hair and sells hair products.

Usually, a company focuses more on products or on services, instead of being evenly balanced.