Legal Form of Business Ownership
This is the easiest type of business to start
Sole Proprietorship
Entrepreneur is a ___________ who recognizes a business opportunity and organizes, manages, and assumes the risk of starting and operating a business.
person
I am the founder of Apple.
Steve Jobs
This type of business has 2-20 owners.
Partnership
True or False. People of all ages can become entrepreneurs.
True
I am the founder of Microsoft.
Bill Gates
This type of business only has one owner.
Sole proprietorship
Which of the following is not a challenge of entrepreneurship?
Being fully responsible for the business
Working long hours
Having an unlimited amount of income
Entrepreneurs have uncertain levels of income, not unlimited amounts of income.
I am the "Queen of All Media" and was the richest African American of the 20th century. I was also once the world's only black billionaire. Who am I?
This type of business has shareholders.
Corporation
Who do retailers sell to?
Retailers sell directly to consumers.
I am the founder of Amazon.
Jeff Bezos
This type of business has double taxation.
Corporation
Name one type of online retailer.
Answers will vary.
I got fired from the company I founded, but was later rehired and helped to create some inventions that changed the world.
Steve Jobs