Characteristics
Forms of Ownership
Name that Franchise
Basic Economics
Famous Entrepreneurs
100
Entrepreneurs take on alot of this....meaning they could lose all money invested in their business.
What is Risk.
100
This simple form of ownership means starting a business by yourself.
What is Sole Proprietor
100
This franchise opened its first location on the campus of Eastern Illinois University.
What is Jimmy John's.
100
This term is used to when talking about money coming into a business.
What is Revenue.
100
This young american started the world's largest social network.
Who is Mark Zuckerberg.
200
This means not stopping if you fail or if you are told no...you keep going.
What is persistent.
200
When 2 or more people join together to share talents to start a business.
What is a Partnership.
200
This huge franchise has its international headquarters in Oak Brook, Illinois.
What is McDonald's.
200
This term describes how much of a product customers want based on the price.
What is Demand.
200
This co-founder of Apple Computer recently died after battling liver cancer.
Who is Steve Jobs.
300
Most entrepreneurs demonstrate this characteristic by constantly asking questions and learning new things.
What is inquisitive.
300
Forming one of these is like forming a human being in the eyes of the law and for tax purposes.
What is a Corporation.
300
This franchise made huge gains by offering one sandwich for sale each day for only $5.
What is Subway.
300
The law of supply and demand states that when supply goes up, this will happen to the price of a product.
What is go down or decrease.
300
This Harvard dropout took the world by storm by showing the world the power of Windows and Internet Explorer.
Who is Bill Gates.
400
Most entrepreneurs prefer to work alone, showing that they are _______.
What is independent.
400
This means that your personal assets can be taken away if your business fails or if you are sued.
What is unlimited liability.
400
This pizza franchise first started in 1958 when 3 brothers borrowed $600 from their parents.
What is Pizza Hut.
400
When a company produces too much of a product or charges too much, this condition will exist.
What is a Surplus.
400
This outspoken entrepreneur can be seen on the Shark Tank and was frequently in trouble while a student at Indiana University.
Who is Mark Cuban.
500
This word describes a feeling of pride and accomplishment and also a means that you are looked at by others as being successful.
What is Prestige.
500
Many business owners will purchase this to protect their business in case of a lawsuit.
What is liability insurance.
500
This franchise changed its name in 1946 when they decided to open early at 7:00am and close at 11:00pm.
What is 7-11.
500
Apple was faced with this condition when the first Iphone sold out completely in only 1 week...leaving many customers unable to purchase the phone.
What is a Shortage.
500
Sergey Brin and Larry Page became billionaires by creating this website that gets an average of 8 Billion page views per day.
What is Google.
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