Unit 3 -Entrepreneurship

Characteristics & Skills

100

Define Empathy

the ability to understand what other people think and feel

200

Name 4 characteristics of being an entrepreneur ?

risk taker, perceptive, curious, imaginative, persistent and a goal setter

300

Name one Canadian entrepreneur from the textbook and what they invented ?

David Tuccaro, Vickie Kerr, Jimmy Pattison

400

List and describe four functions of management ?

planning, organizing, leading, and controlling.

500

What are 3 criteria from the feasibility chart ?

financing, location, licenses and permits 

Invention and Innovation

100

What is a market driven enterprise?

searches for a customer base rather than an idea 

200

This give the holder the sole right to make, use or sell this invention

patent

300

This is when an entrepreneur is able to visualize all the products and services that are available in a particular segment 

product mapping

400

Java, the programming language was created by James Gosling in what year ?

1994

500

Define the term 'royalty'

can either be fixed amount or % of the total total sales revenue that the user pays the patent or copyright owner

Accounting 1

100

The most liquid asset

cash

200

What information is in the header of a balance sheet ?

Name, balance sheet and date 

300

This has a credit balance

revenue or sales

400

is calculated by the starting with the opening inventory and adding new purchases made in the same period

cost of goods sold

500

Name 2 ways of boosting cash flow ?

Any of these :

Increase price of good

Spread out expenses

Shorten A/R

Extend A/P

Accounting 2

100

When an asset loses value over time 

depreciation

200

When we record an asset at the original price that we purchased it for 

cost principle

300

Complete the formula: 

Gross profit- minus expenses =...

Net Income

400

Complete the formula: 

Revenue- ............................= Gross profit

Cost of goods sold

500

What is a bad debt ?

A debt that the business can not recover

Random

100

What team are Germany playing against as hosts for the Euros Soccer Championship ?

SCOTLAND !

200

What is the most common color used in business logos

Blue

300

We all know that Canadians love takeout pizza( a bit too much). What is the largest franchise in Canada and the World ? 

Pizza Pizza and Dominos 

400

What is the best selling flavor of Miss Vickie's Chips ?

Jalapeno

500

What country has the highest cost of living in 2024 ?

1. Switzerland: Cities like Zurich and Geneva are known for their high cost of living, especially in terms of housing, transportation, and everyday expenses.
2. Norway: Oslo and other major cities in Norway often rank among the most expensive places to live, particularly due to high housing costs.
3. Denmark: Cities like Copenhagen can be quite expensive, especially when it comes to dining out, entertainment, and housing.
4. Iceland: Reykjavik is known for its high cost of living, particularly in terms of groceries, dining, and recreational activities.
5. Singapore: This city-state in Southeast Asia is renowned for its high cost of living, especially in terms of housing and transportation.