What it takes
What is the age limit to become an entrepreneur
None
Who is the founder of Ford automobiles
Henry Ford
What is an important factor when starting a business
money, location, workers
Give an example of a reward
prizes, money, a service, a product, etc.
What is one called who is considering going into business for themselves
Entrepreneur
What are two characteristics of an entrepreneur
Determination, Hardwork, Perseverance , Leadership, etc.
Who is the founder of JC Penny department stores
JC Penny
What are resources needed to begin a business
Land, Labor, Capital
As an Entrepreneur, you control your ________
wage, hours, business, employees, etc.
What is a tangible product
an item that can be handled, touched
Entrepreneurs must know what to sell. What two things can businesses sell
a product and/or service
Who is the founder of Microsoft
Bill Gates
What is an advantage to starting your own business
no debt and no bad reputation
What is a risk
a gain, loss, or failure; bankruptcy, investing, etc.
What is all things used in producing goods and services
Resources
What are trends that a business goes through
expansion, recession, depression, recovery; the business cycle
Who created Facebook
Mark Zuckerberg
What is a way to become an entrepreneur
buy a business, take over a family business, and start a business
What is the amount of money a one puts into a business
Capital
What is the term used for when wants are greater than resources you have
Scarcity
What is something an entrepreneur must know
regulations, the economy, the market, etc.
Who is the founder of Wal-Mart & Sam's Club
Sam Walton
What is an advantage to finding a target market
understanding who to sell to, producing a product/service that will sell
What is a form of business organization
sole proprietorship or partnership
What is the point that consumers buy all of a product that is supplied leaving neither a shortage or surplus
equilibrium or break-even point