Title: Characteristics of Entrepreneurs
Course: Demo 1

Q: The definition of an entrepreneur is someone who:
- assumes the risk of creating a business
- identifies a business opportunity
- starts a business to take advantage of an identified opportunity
A: assumes the risk of creating a business; identifies a business opportunity; starts a business to take advantage of an identified opportunity

Q: What questions should you ask yourself if you are considering becoming an entrepreneur?
- How do I come up with a business idea?
- How do I go about planning a business?
- How would I use my wealth if my business succeeds?
A: How do I come up with a business idea?; How do I go about planning a business?

Q: Identify the main characteristics of entrepreneurial activity besides starting a business:
- risk taking
- innovation
- design skills
A: risk taking; innovation

Q: An entrepreneur is an innovator. Which of the following are examples of the type of innovation undertaken by entrepreneurs?
- offering new products
- opening new markets
- replicating existing technology
A: offering new products; opening new markets

Q: What of the following is a benefit of running your own business?
- creative freedom
- being your own boss
- extremely long working hours
A: creative freedom; being your own boss

Q: The right person to run their own business, according to the SBA, embodies the following qualities and characteristics:
- self starter
- has physical and emotional stamina
- has difficulty making decisions
A: self starter; has physical and emotional stamina

Q: To run your own business you need the following qualities and characteristics:
- have a strong drive to succeed
- get along with different personalities
- ability to plan and organize
A: have a strong drive to succeed; get along with different personalities; ability to plan and organize

Q: What prevents some people from starting their own business?
- need for security
- lack of an idea that would distinguish them in the market
- having too much startup money
A: need for security; lack of an idea that would distinguish them in the market

Q: When an individual starts their own business, a potential change in their standard of living and possible financial difficulties should be discussed with their ________.
- social media friends
- sports teams
- family
A: family