ENT 101 Actual Questions and Answers
Update 100% Correct-Toronto Metropolitan
University
America is - ANSWER>>an incubator for entrepreneurship
Farmers came to America for - ANSWER>>Entrepreneurship and religious freedom
pursuit of happiness - ANSWER>>meant entrepreneurship
in as much as ye shall keep the commandments of God, ye shall prosper is said how many times
in BOM? - ANSWER>>33
The american dream requires - ANSWER>>rules and laws to be followed
Joseph is an analogy of? - ANSWER>>America
Entrepreneurship is the primary driver of - ANSWER>>innovations and quality of life.
-drives economic growth
Entrepreneurs play a huge role in - ANSWER>>changing the world though growth and
innovation
productive efficiency - ANSWER>>use of resources in least costly way
allocative efficiency - ANSWER>>produce what society wants
creative destruction - ANSWER>>the essential fact about capitalism
-creating new things to disrupt the old way of doing things
kickstarter - ANSWER>>Website created to help fund people
young and new companies are - ANSWER>>the primary job creator
entrepreneurship eliminates - ANSWER>>perceived/real biases
, entrepreneurship is the primary driver of - ANSWER>>philathropy
entrepreneurs median charity is - ANSWER>>50% higher than non ents
startup - ANSWER>>a new business that is getting started
side hustle - ANSWER>>part time business- startups often start off like this
franchise - ANSWER>>run a business that was already started (ex: chip)
small business - ANSWER>>business that is not trying to scale
seed funding - ANSWER>>earliest investment $ into a new startup. used to validate, prototype,
informal investing
venture capital - ANSWER>>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 - ANSWER>>founded illumibowl on kickstarter
- later went on shark tank
- have a 4x markup
- have very clear agreements
Logan bailey - fuse - ANSWER>>lots of prototyping. kept searching for an idea
- used kickstarter
Angel Investors - ANSWER>>and individual who is rich and has money to invest
- must make 250k a year or have 1million net worth
Series A/b/c - ANSWER>>- series A is the first round of investing- other rounds occur when the
company is reevaluated
debt financing - ANSWER>>getting money from the bank
- can't be used for tech because software isn't tangeable
-cheapest form of $
Update 100% Correct-Toronto Metropolitan
University
America is - ANSWER>>an incubator for entrepreneurship
Farmers came to America for - ANSWER>>Entrepreneurship and religious freedom
pursuit of happiness - ANSWER>>meant entrepreneurship
in as much as ye shall keep the commandments of God, ye shall prosper is said how many times
in BOM? - ANSWER>>33
The american dream requires - ANSWER>>rules and laws to be followed
Joseph is an analogy of? - ANSWER>>America
Entrepreneurship is the primary driver of - ANSWER>>innovations and quality of life.
-drives economic growth
Entrepreneurs play a huge role in - ANSWER>>changing the world though growth and
innovation
productive efficiency - ANSWER>>use of resources in least costly way
allocative efficiency - ANSWER>>produce what society wants
creative destruction - ANSWER>>the essential fact about capitalism
-creating new things to disrupt the old way of doing things
kickstarter - ANSWER>>Website created to help fund people
young and new companies are - ANSWER>>the primary job creator
entrepreneurship eliminates - ANSWER>>perceived/real biases
, entrepreneurship is the primary driver of - ANSWER>>philathropy
entrepreneurs median charity is - ANSWER>>50% higher than non ents
startup - ANSWER>>a new business that is getting started
side hustle - ANSWER>>part time business- startups often start off like this
franchise - ANSWER>>run a business that was already started (ex: chip)
small business - ANSWER>>business that is not trying to scale
seed funding - ANSWER>>earliest investment $ into a new startup. used to validate, prototype,
informal investing
venture capital - ANSWER>>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 - ANSWER>>founded illumibowl on kickstarter
- later went on shark tank
- have a 4x markup
- have very clear agreements
Logan bailey - fuse - ANSWER>>lots of prototyping. kept searching for an idea
- used kickstarter
Angel Investors - ANSWER>>and individual who is rich and has money to invest
- must make 250k a year or have 1million net worth
Series A/b/c - ANSWER>>- series A is the first round of investing- other rounds occur when the
company is reevaluated
debt financing - ANSWER>>getting money from the bank
- can't be used for tech because software isn't tangeable
-cheapest form of $
