Title: Opportunities and Challenges
Course: Demo 1

Q: Advantage(s) of starting a successful business include:
- financial rewards
- lifestyle
- time commitment
A: financial rewards; lifestyle

Q: Compared to working for an employer, an entrepreneur who starts a small business is likely to spend:
- significantly less time working because she is her own boss
- about the same amount of time working but she enjoys her work more
- significantly more time working because so much depends on her
A: significantly more time working because so much depends on her

Q: Disadvantages of starting a business include:
- undesirable duties
- financial risk
- independence
A: undesirable duties; financial risk

Q: Rajesh decided to open a custom T-shirt shop in his hometown of Fairfield, IA. He has spent 100 hours getting everything ready for the grand opening. In order to pay for inventory, marketing, flyers, and advertising, he used all of the money in his savings account. In order to help ensure his business will succeed, Rajesh is ________.
- making a time commitment
- taking a financial risk
- relying on word of mouth
A: making a time commitment; taking a financial risk

Q: Rajesh decided to open a custom T-shirt shop in his hometown of Fairfield, IA. He has spent 100 hours getting everything ready for the grand opening. His two main suppliers, a T-shirt supplier and an ink supplier, have taken many hours of skillful conversations to come to agreed upon business terms. Rajesh has become better at negotiating and has used many other skills to set up his business. Rajesh feels a sense of satisfaction because by opening this business he is gaining ________.
- personal satisfaction
- no potential opportunities for success
- learning opportunities
A: learning opportunities

Q: Fred decided he liked the idea of being a business owner and is now considering starting a business. Fred enjoys the security of his job and likes working for someone else. He takes the same vacation to Hawaii every year. When he bought his current car he did not negotiate with the car salesman. Five years ago, Fred presented an idea to his boss, but when his idea was rejected he decided not to pursue it further. Based on the qualities of an entrepreneur, Fred is a(n) ________ candidate for entrepreneurship.
- favorable
- excellent
- poor
A: poor