Entrepreneurship JEOPARDY! Chapter 1 Get ready to play…

Entrepreneurship

JEOPARDY!Chapter 1

Get ready to play…

Entrepreneurship

JEOPARDY!1. The room will be divided into two groups or teams.

2. Each side will take turns selecting a question.

3. Each person from the team will have a chance to answer (we will go up and down the rows with each question so everyone gets a chance).

4. If you cannot answer within 30 seconds, the player may opt to “pass” to their teammates to answer we will give the other team a chance to answer.

5. Incorrect answers in Double Jeopardy will be penalized—so be careful!

6. You may use your books/notes but hurry up! Time will run out!

7. There are 5 Daily Doubles.

8. A score keeper is needed.

9. The team with the most money wins!

Let’s Play!

$500 $500 $500 $500$500

$400 $400 $400 $400$400

$300 $300 $300 $300$300

$200 $200 $200 $200$200

$100 $100 $100 $100$100

Types of Ownership

ExtrasGoing into Business

Advantages and

Disadvantages

Entrepreneurship

What is a True?

Characteristics of an entrepreneur are they are confident and goal orientated.

True or False

Entrepreneurship

What is persistent?

A successful entrepreneur is willing to work until a job is done. Which of these terms self describe this

characteristic?

self-confident, enthusiastic, persistent, restless

Entrepreneurship

What is inquisitive?

Entrepreneurs want to know as much as possible about anything that might affect their ventures.

Which of these terms describe this characteristic?

creative, inquisitive, persistent, responsible

Entrepreneurship

What is an Entrepreneur?

An individual who undertakes the creation, organization, and ownership of an innovative business with potential for

growth.

Entrepreneurship

What is entrepreneurship?

The process of recognizing or creating an opportunity, testing, it in the market, and gathering the resources necessary to go

into business.

Entrepreneurship

What is sole proprietorship?

A business that is owned and operated by one person?

Types of Ownership

What is a corporation?

A business that is registered by a state and operates apart from its owners; it issues

shares of stock and lives on after the owners have sold their interest or passed away.

Types of Ownership

What is Partnership?

An unincorporated business with two or more owners who share the decisions,

assets, liabilities and profits.

Types of Ownership

What is a shareholder?

The owners of a corporation.

Types of Ownership

What is a nonprofit corporation?

A legal entity that makes money for reasons other than the owner’s profit; it can make a profit, but the profit must

remain within the company.

Types of Ownership

What is corporation?

A disadvantage of this type of ownership is profits are taxed twice.

Advantages and

Disadvantages

A disadvantage of this type of ownership is there may be personality conflicts.

What is partnership?

Advantages and

Disadvantages

What is a corporation?

A disadvantage of this type of ownership is it is expensive to

setup with the legal documentation.

Advantages and

Disadvantages

What is a sole proprietorship?

A disadvantage of this type of ownership is capital is difficult to

raise.

Advantages and

Disadvantages

What is sole proprietorship?

It is a disadvantage with this type ownership if the owner dies it could dissolve the business unless

there is a will to the contrary.

Advantages and

Disadvantages

Going into Business

Two advantages for going into this type of business is there is less risk and the business has a recognized

name. What is a franchise?

What is new?

Starting a(n) ________ business will mean you will have extremely long hours and the highest risk level.

Going into Business

What is franchise?

With this type of business there is restrictions on how you the run

the business.

Going into Business

What is buying existing?

A disadvantage of this type of business is the business could already be failing and

have a poor reputation.

Going into Business

What is control everything, completely your idea, pride, or no

prior damage to undo?

.List three advantages of starting a new business

instead of starting a franchise or buying an

existing business.

Going into Business

What is true?

One way to prevent some of the problems that a family businesses face is to establish clear lines

of responsibility. True or False.

Extras

What is confident, determined, creative, flexible, self motivated, risk

taker, resourceful?

List three characteristics of a successful entrepreneur.

Extras

What is sole proprietorship?

The least regulated of all forms of ownership.

Extras

What is religion, charity, public benefit, or mutual benefit?

List two of the four categories a nonprofit corporation must fall within in order to

be a nonprofit corporation.

Extras

What is recognize consumer wants and needs, create a market for

venture capitalist, provide jobs for communities and change society?

List three contributions entrepreneurs make to society.

Extras