Ch.1 Sec.3 Becoming an Entrepreneur
The advantages of being an entrepreneur are _____.
B.) Flexibility, independence, and salary potential
In order for a person to recognize needs that are not being met and make a career out of fulfilling unmet needs, that person must have _____.
B.) Sight and foresight
The expenses involved in going into business, such as buying a space and purchasing equipment, are examples of _____.
B.) Start-up costs
A proven product, established management systems, and customer goodwill are three advantages of _____.
C.) Buying a franchise
Buying a franchise might be a good decision for someone who _____.
C.) Doesn't have experience developing management systems
In order for a teen to have a successful business, they must to do all of the following EXCEPT _____.
C.) Ignore customer satisfaction
The three traits an entrepreneur must possess to be successful are _____.
C.) Sight and foresight, decision making, and motivation
An existing business can be for sale because _____.
D.) All of the above
If you purchase a franchise, you get to keep all of the profits you make.
False
Taking over a family business can help to maintain the goodwill of the customers.
True