BADM 101 EXAM 2 STUDY GUIDE UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. Entrepreneurship
Answer:
Accepting the risk of starting and operating a business to earn a profit.
Question:
2. Entrepreneur
Answer:
A person who starts and manages a business while assuming its risks.
Question:
3. Why do people become entrepreneurs?
Answer:
Profit, independence, flexibility, passion, and opportunity.
Question:
4. Traits of successful entrepreneurs
Answer:
Self-directed, self-nurturing, action-oriented, energetic, and tolerant of
uncertainty.
Question:
5. Intrapreneur
Answer:
An employee who acts like an entrepreneur within an existing company.
Question:
6. Micropreneur
Answer:
An entrepreneur who runs a very small business.
Question:
7. Home-based business
Answer:
A business operated primarily from the owner's home.
, Question:
8. Business incubator
Answer:
An organization that helps startups with space, mentoring, and resources.
Question:
9. Small business
Answer:
An independently owned business that is not dominant in its industry.
Question:
10. Why are small businesses important?
Answer:
They create jobs, encourage innovation, and stimulate the economy.
Question:
11. Common sources of business financing
Answer:
Savings, loans, angel investors, venture capitalists, and crowdfunding.
Question:
12. Business plan
Answer:
A written plan describing goals, operations, marketing, and finances.
Question:
13. Venture capitalist
Answer:
An investor or firm investing large sums for equity.
Question:
14. Angel investor
Answer:
A wealthy individual investing personal money in startups.
Question:
15. Crowdfunding
Answer:
Raising small amounts of money from many people online.
QUESTIONS AND CORRECT ANSWERS
Question:
1. Entrepreneurship
Answer:
Accepting the risk of starting and operating a business to earn a profit.
Question:
2. Entrepreneur
Answer:
A person who starts and manages a business while assuming its risks.
Question:
3. Why do people become entrepreneurs?
Answer:
Profit, independence, flexibility, passion, and opportunity.
Question:
4. Traits of successful entrepreneurs
Answer:
Self-directed, self-nurturing, action-oriented, energetic, and tolerant of
uncertainty.
Question:
5. Intrapreneur
Answer:
An employee who acts like an entrepreneur within an existing company.
Question:
6. Micropreneur
Answer:
An entrepreneur who runs a very small business.
Question:
7. Home-based business
Answer:
A business operated primarily from the owner's home.
, Question:
8. Business incubator
Answer:
An organization that helps startups with space, mentoring, and resources.
Question:
9. Small business
Answer:
An independently owned business that is not dominant in its industry.
Question:
10. Why are small businesses important?
Answer:
They create jobs, encourage innovation, and stimulate the economy.
Question:
11. Common sources of business financing
Answer:
Savings, loans, angel investors, venture capitalists, and crowdfunding.
Question:
12. Business plan
Answer:
A written plan describing goals, operations, marketing, and finances.
Question:
13. Venture capitalist
Answer:
An investor or firm investing large sums for equity.
Question:
14. Angel investor
Answer:
A wealthy individual investing personal money in startups.
Question:
15. Crowdfunding
Answer:
Raising small amounts of money from many people online.
