ENT101 Final Exam Study questions all with
Correct Answers
America is - ANS an incubator for entrepreneurship
Farmers came to America for - ANS Entrepreneurship and religious freedom
pursuit of happiness - ANS meant entrepreneurship
in as much as ye shall keep the commandments of God, ye shall prosper is said how many times
in BOM? - ANS 33
The american dream requires - ANS rules and laws to be followed
Joseph is an analogy of? - ANS America
Entrepreneurship is the primary driver of - ANS innovations and quality of life.
-drives economic growth
Entrepreneurs play a huge role in - ANS changing the world though growth and innovation
productive efficiency - ANS use of resources in least costly way
allocative efficiency - ANS produce what society wants
creative destruction - ANS the essential fact about capitalism
-creating new things to disrupt the old way of doing things
,kickstarter - ANS Website created to help fund people
young and new companies are - ANS the primary job creator
entrepreneurship eliminates - ANS perceived/real biases
entrepreneurship is the primary driver of - ANS philathropy
entrepreneurs median charity is - ANS 50% higher than non ents
startup - ANS a new business that is getting started
side hustle - ANS part time business- startups often start off like this
franchise - ANS run a business that was already started (ex: chip)
small business - ANS business that is not trying to scale
seed funding - ANS earliest investment $ into a new startup. used to validate, prototype,
informal investing
venture capital - ANS equity investment.
- ownership of a company
- used for early stage and growth companies.
- large amounts of risk
- pension funds invest in venture capital
, Matt alexander - illumibowl - ANS founded illumibowl on kickstarter
- later went on shark tank
- have a 4x markup
- have very clear agreements
Logan bailey - fuse - ANS lots of prototyping. kept searching for an idea
- used kickstarter
Angel Investors - ANS and individual who is rich and has money to invest
- must make 250k a year or have 1million net worth
Series A/b/c - ANS - series A is the first round of investing- other rounds occur when the
company is reevaluated
debt financing - ANS getting money from the bank
- can't be used for tech because software isn't tangeable
-cheapest form of $
boot strapping - ANS when entrepreneurs decide to finance their own ventures
sweat equity - ANS ownership earned in lieu of wages
IPO (initial public offering) - ANS The first time a company sells shares of its stock to the public.
- company has to provide quarterly reports
- can be oppressive- entrepreneurs must always show what they are doing
mergers and acquisitions - ANS -public companies buy private companies with stocks and $
Correct Answers
America is - ANS an incubator for entrepreneurship
Farmers came to America for - ANS Entrepreneurship and religious freedom
pursuit of happiness - ANS meant entrepreneurship
in as much as ye shall keep the commandments of God, ye shall prosper is said how many times
in BOM? - ANS 33
The american dream requires - ANS rules and laws to be followed
Joseph is an analogy of? - ANS America
Entrepreneurship is the primary driver of - ANS innovations and quality of life.
-drives economic growth
Entrepreneurs play a huge role in - ANS changing the world though growth and innovation
productive efficiency - ANS use of resources in least costly way
allocative efficiency - ANS produce what society wants
creative destruction - ANS the essential fact about capitalism
-creating new things to disrupt the old way of doing things
,kickstarter - ANS Website created to help fund people
young and new companies are - ANS the primary job creator
entrepreneurship eliminates - ANS perceived/real biases
entrepreneurship is the primary driver of - ANS philathropy
entrepreneurs median charity is - ANS 50% higher than non ents
startup - ANS a new business that is getting started
side hustle - ANS part time business- startups often start off like this
franchise - ANS run a business that was already started (ex: chip)
small business - ANS business that is not trying to scale
seed funding - ANS earliest investment $ into a new startup. used to validate, prototype,
informal investing
venture capital - ANS equity investment.
- ownership of a company
- used for early stage and growth companies.
- large amounts of risk
- pension funds invest in venture capital
, Matt alexander - illumibowl - ANS founded illumibowl on kickstarter
- later went on shark tank
- have a 4x markup
- have very clear agreements
Logan bailey - fuse - ANS lots of prototyping. kept searching for an idea
- used kickstarter
Angel Investors - ANS and individual who is rich and has money to invest
- must make 250k a year or have 1million net worth
Series A/b/c - ANS - series A is the first round of investing- other rounds occur when the
company is reevaluated
debt financing - ANS getting money from the bank
- can't be used for tech because software isn't tangeable
-cheapest form of $
boot strapping - ANS when entrepreneurs decide to finance their own ventures
sweat equity - ANS ownership earned in lieu of wages
IPO (initial public offering) - ANS The first time a company sells shares of its stock to the public.
- company has to provide quarterly reports
- can be oppressive- entrepreneurs must always show what they are doing
mergers and acquisitions - ANS -public companies buy private companies with stocks and $
