What it takes
Famous Entrepreneurs
Starting a Business
Rewards & Risks
Vocabulary
100

What is the age limit to become an entrepreneur

None

100

Who is the founder of Ford automobiles

Henry Ford

100

What is an important factor when starting a business

money, location, workers


100

Give an example of a reward

prizes, money, a service, a product, etc.


100

What is one called who is considering going into business for themselves


Entrepreneur


200

What are two characteristics of an entrepreneur


Determination, Hardwork, Perseverance , Leadership, etc.


200

Who is the founder of JC Penny department stores


JC Penny


200

What are resources needed to begin a business


Land, Labor, Capital


200

As an Entrepreneur, you control your ________


wage, hours, business, employees, etc.


200

What is a tangible product


an item that can be handled, touched


300

Entrepreneurs must know what to sell. What two things can businesses sell


a product and/or service


300

Who is the founder of Microsoft


Bill Gates


300

What is an advantage to starting your own business


no debt and no bad reputation


300

What is a risk


a gain, loss, or failure; bankruptcy, investing, etc.


300

What is all things used in producing goods and services


Resources


400

What are trends that a business goes through


expansion, recession, depression, recovery; the business cycle


400

Who created Facebook


Mark Zuckerberg


400

What is a way to become an entrepreneur


buy a business, take over a family business, and start a business


400

What is the amount of money a one puts into a business

Capital

400

What is the term used for when wants are greater than resources you have


Scarcity

500

What is something an entrepreneur must know


regulations, the economy, the market, etc.


500

Who is the founder of Wal-Mart & Sam's Club


Sam Walton


500

What is an advantage to finding a target market


understanding who to sell to, producing a product/service that will sell


500

What is a form of business organization


sole proprietorship or partnership


500

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