Transcript Jeopardy Review Game
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Entrepreneurship
JEOPARDY!
Chapter 1
Entrepreneurship
JEOPARDY!
1. The room will be divided into two groups or teams.
2. Each side will take turns selecting a question.
3. Each person from the team will have a chance to answer (we will go up and down the rows with each question so everyone gets a chance). 4. If you cannot answer within 30 seconds, the player may opt to
Let’s Play!
5. Incorrect answers in Double Jeopardy will be penalized—so be careful!
6. You may use your books/notes but hurry up! Time will run out!
7. There are 5 Daily Doubles.
8. A score keeper is needed.
9. The team with the most money wins!
Entrepreneurship
Types of Ownership
Advantages and Disadvantages
Going into Business
Extras
Entrepreneurship
Characteristics of an entrepreneur are they are confident and goal orientated. True or False What is a True?
Entrepreneurship
A successful entrepreneur is willing to work until a job is done. Which of these terms self describe this characteristic? self-confident, enthusiastic, persistent, restless What is persistent?
Entrepreneurship
Entrepreneurs want to know as much as possible about anything that might affect their ventures. Which of these terms describe this characteristic? creative, inquisitive, persistent, responsible What is inquisitive?
Entrepreneurship
An individual who undertakes the creation, organization, and ownership of an innovative business with potential for growth.
What is an Entrepreneur?
Entrepreneurship
The process of recognizing or creating an opportunity, testing, it in the market, and gathering the resources necessary to go into business. What is entrepreneurship?
Types of Ownership
A business that is owned and operated by one person?
What is sole proprietorship?
Types of Ownership
A business that is registered by a state and operates apart from its owners; it issues shares of stock and lives on after the owners have sold their interest or passed away. What is a corporation?
Types of Ownership
An unincorporated business with two or more owners who share the decisions, assets, liabilities and profits. What is Partnership?
Types of Ownership
The owners of a corporation. What is a shareholder?
Types of Ownership
A legal entity that makes money for reasons other than the owner’s profit; it can make a profit, but the profit must remain within the company. What is a nonprofit corporation?
Advantages and Disadvantages
A disadvantage of this type of ownership is profits are taxed twice. What is corporation?
Advantages and Disadvantages
A disadvantage of this type of ownership is there may be personality conflicts.
What is partnership?
Advantages and Disadvantages
A disadvantage of this type of ownership is it is expensive to setup with the legal documentation. What is a corporation?
Advantages and Disadvantages
A disadvantage of this type of ownership is capital is difficult to raise.
What is a sole proprietorship?
Advantages and Disadvantages
It is a disadvantage with this type ownership if the owner dies it could dissolve the business unless there is a will to the contrary. What is sole proprietorship?
Going into Business
Two advantages for going into this type of business is there is less risk and the business has a recognized name. What is a franchise?
Going into Business
Starting a(n) ________ business will mean you will have extremely long hours and the highest risk level. What is new?
Going into Business
With this type of business there is restrictions on how you the run the business. What is franchise?
Going into Business
A disadvantage of this type of business is the business could already be failing and have a poor reputation. What is buying existing?
Going into Business List three advantages of starting a new business instead of starting a franchise or buying an existing business.
What is control everything, completely your idea, pride, or no prior damage to undo?
Extras
One way to prevent some of the problems that a family businesses face is to establish clear lines of responsibility. True or False. What is true?
Extras
List three characteristics of a successful entrepreneur. What is confident, determined, creative, flexible, self motivated, risk taker, resourceful?
Extras
The least regulated of all forms of ownership.
What is sole proprietorship?
Extras
List two of the four categories a nonprofit corporation must fall within in order to be a nonprofit corporation. What is religion, charity, public benefit, or mutual benefit?
Extras
List three contributions entrepreneurs make to society. What is recognize consumer wants and needs, create a market for venture capitalist, provide jobs for communities and change society?