What is entrepreneurship? - ANSWER Setting up a business with the aim to make a profit.
A________employee received a set of amount of pay each month without overtime com-
pensation for extra hours worked. - ANSWER Salary
An example of_______compensation is paying field laborers for the amount of fruit they
pick. - ANSWER Piece work
Employees most affected by minimum wage laws are compensated ________. - ANSWER
Hourly
Life cycle stage 1 - ANSWER Existence
Life cycle stage 2 - ANSWER Survival
Life cycle stage 3 - ANSWER Success
Life cycle stage 4 - ANSWER Take off
Life cycle stage 5 - ANSWER Maturity
An employee who is paid a percentage of a sale is paid by________. - ANSWER Commis-
sion
1
, Acquire an emphatic understanding of the problem you're trying to solve, typically through
user research. - ANSWER Empathize
Element of Design Thinking Process: State your users' needs and problems - ANSWER De-
fine
Which is one of the greatest benefits of being an entrepreneur? - ANSWER Schedule con-
trol
Successful Entrepreneurs have mindset that typically possess which 3 characteristics? - AN-
SWER Responsible, Adaptable, Tenacious
Which two documents summarize the business plan of a company? - ANSWER Lean Can-
vas and Pitch Deck
A single page business summary template - ANSWER Lean Canvas
A slide presentation for potential investors that summarize key items of a business - AN-
SWER Pitch Deck
Which three characteristics help identify a business opportunity? - ANSWER Service,
Price, Quantity
A multi-page document describing and detailing a business - ANSWER Business Plan
What is a target market? - ANSWER Costumers to whom a company wants to sell its
products and services
2
A________employee received a set of amount of pay each month without overtime com-
pensation for extra hours worked. - ANSWER Salary
An example of_______compensation is paying field laborers for the amount of fruit they
pick. - ANSWER Piece work
Employees most affected by minimum wage laws are compensated ________. - ANSWER
Hourly
Life cycle stage 1 - ANSWER Existence
Life cycle stage 2 - ANSWER Survival
Life cycle stage 3 - ANSWER Success
Life cycle stage 4 - ANSWER Take off
Life cycle stage 5 - ANSWER Maturity
An employee who is paid a percentage of a sale is paid by________. - ANSWER Commis-
sion
1
, Acquire an emphatic understanding of the problem you're trying to solve, typically through
user research. - ANSWER Empathize
Element of Design Thinking Process: State your users' needs and problems - ANSWER De-
fine
Which is one of the greatest benefits of being an entrepreneur? - ANSWER Schedule con-
trol
Successful Entrepreneurs have mindset that typically possess which 3 characteristics? - AN-
SWER Responsible, Adaptable, Tenacious
Which two documents summarize the business plan of a company? - ANSWER Lean Can-
vas and Pitch Deck
A single page business summary template - ANSWER Lean Canvas
A slide presentation for potential investors that summarize key items of a business - AN-
SWER Pitch Deck
Which three characteristics help identify a business opportunity? - ANSWER Service,
Price, Quantity
A multi-page document describing and detailing a business - ANSWER Business Plan
What is a target market? - ANSWER Costumers to whom a company wants to sell its
products and services
2
