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Entrepreneurship Answers

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Which characteristic of a successful entrepreneur does Edison exhibit in this quote?

A
drive, self-confidence, and a clear vision of a goal
B
an ability to learn from mistakes and adapt to new knowledge
C
a willingness to take responsibility for success or failure
D
a sense of responsibility to society
4

Which of these assumptions can an entrepreneur safely make when planning a start-up? Check all that apply.Setting up a business in a large city will guarantee its success.Customers exist for every product.It is important to have a thorough knowledge of the product.Thorough planning and sound strategy do not guarantee a business’s success.Raising funds is necessary but may involve personal risk.

A
Setting up a business in a large city will guarantee its success.
B
Customers exist for every product.
C
It is important to have a thorough knowledge of the product.
D
Thorough planning and sound strategy do not guarantee a business’s success.
E
Raising funds is necessary but may involve personal risk.
5

Which statement is supported by information in the graph?

A
Businesses in some industries have a greater chance of survival than in others.
B
Businesses in the healthcare industry are more likely to fail.
C
Less than half of businesses in the healthcare industry survive more than five years.
D
Most businesses fail after just one year.

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