entrepreneurship midterm

Characteristics of successful entrepreneurs include;

Grit

What is an entrepreneur?

An adult who started cutting grass as a pre-teen and now runs a gardening business

Entrepreneurial problem solvers exhibit the following behaviors:

Comfort performing under pressure

Self-discipline can best be defined as:

Perspective

Which of the following is an essential skill for a successful entrepreneur and small business leader?

ability to interact in a friendly and effective way with people you don’t know

Which of the following best defines self-motivation?

ability to start and finish a task without giving up

Which is an entrepreneur?

A woman who designs and makes her own clothing line and sells to her friends

Successful entrepreneurs can be described as:

Change Agents

Which of the following is a school expectation?

Two months of summer vacation

Which of the following is a work expectation?

Serious consequences for failures in self-discipline

Is the workplace expectation for being on time different than the high school expectation

Yes-being late to work carry greater penalties than being late to school

The government agency that enables companies to register to do business in the state of Louisiana is:

Secretary of State

Which of the following is a state government agency:

Louisiana Economic Development

What is a “registered agent?”

An individual responsible for receiving legal documents

The geauxBIZ portal is:

A Louisiana Secretary of State website entrepreneurs use to register a company

The fixed costs of a business:

Are the same no matter how many customers the business serves

Businesses should always set their prices:

To reflect the value of their goods and services, not just their costs

Advertising can be important for a new business because it:

Communicates a differentiated message to target customers

Example of Fixed Cost

Monthly Rent

Example of Variable Cost

Cost of Goods Sold

A payment made to an insurance company to cover the costs of an insurance policy is called a

premium

What is an example of an intellectual property?

Trademark, Patent, or Copyright