2. Compliance : Successful entrepreneurs are passionate about their business. They are always excited and satisfied with their work. Entrepreneurs rarely bored and if something about running your business is boring for them, they can hire someone to do the job. 3. The control of working conditions:the entrepreneur can create a work environment that reflects their values and culture. For example, if you believe in recycling, you can ensure that your company recycles. You are also responsible for evaluating your own performance. Besides, no one has the power to hire or fire you.
Model Answer Question 11 of 40 Score: 1 (of possible 1 point) Entrepreneurs are often both owners and ________. A.suppliersB.customersC.creditorsD.employees Answer Key: D Question 12 of 40 Score: 1 (of possible 1 point) Entrepreneurs have more control over more aspects of their working lives than employees. Of which aspect of their working lives do employees have more control?
Answer Key: C Question 13 of 40 Score: 1 (of possible 1 point) Entrepreneurs look at five basic ways of opportunity for business ideas. Which is not one of those five? A. raising prices in an existing market B. producing a product more cheaply C. developing a new market for an existing product D. finding new ways to use existing technology Answer Key: A Question 14 of 40 Score: 1 (of possible 1 point) Entrepreneurs that participate in activities to avoid harm to the environment or help protect it in some ways are engaged in ________.
Answer Key: C Question 15 of 40 Score: 1 (of possible 1 point) Entrepreneurs view problems as a(n)________. A. hurdle B. roadblock C. opportunity D. challenge Answer Key: C Question 16 of 40 Score: 1 (of possible 1 point) Entrepreneurship can be very challenging. Which is not a typical challenge of being an entrepreneur? Answer Key: B Question 17 of 40 Score: 0 (of possible 1 point)
Explain how entrepreneurs can add value to scarce resources, and what signal they use to determine whether or not they are succeeding in doing so. Answer S carce resources are those goods or products that are in demand amounts below. When you do not have existence sufficient resources to meet all possible desires and needs of individuals. Model Answer Question 18 of 40 Score: 0 (of possible 1 point) Explain why it is important to consider opportunity cost when making a decision. Answer Using a comparison of costs and benefits to make a decision is called cost / benefit. This a very useful tool, since people tend to make decisions based on their emotions, not by using their intelligence to evaluate the pros and cons. People often make decisions without taking into account opportunity costs and then wonder why they are not happy with the result. Whenever a decision about what to do with their time, energy, money or think about the cost of the opportunities being given up is taken.
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