Welcome to your GRADE 8 CAREER AND TECHNICAL EDUCATION CHAPTER 7
After carefully reading the following 30 questions, choose the correct answer.
1.
How is entrepreneurship described in terms of the action an individual takes?
2.
Which term refers to a person who sees a market opportunity and bears the risk of a business?
3.
What is the primary reward for an entrepreneur if their business venture is successful?
4.
Which entrepreneurial model involves starting a company like a restaurant without the intention of turning it into a corporation?
5.
What is the formal written document that contains the goals of a business and methods for achieving them?
6.
Which section of a business plan provides a quick 1-3 page overview of the entire plan?
7.
What does a "Mission/Vision Statement" in a business plan explain?
8.
Which analysis considers internal strengths/weaknesses and external opportunities/threats?
9.
Bethlehem Tilahun founded which famous Ethiopian footwear brand?
10.
What materials are primarily used by Sole Rebels to hand-craft their shoes?
11.
Which component of the business plan outlines the target market and pricing strategy?
12.
Why do banks and microfinance institutions require a clear financial plan before giving a loan?
13.
What is the purpose of a "Contingency Plan" in a business plan?
14.
Entrepreneurship is often known as "______ of any sort."
15.
Small business entrepreneurs mostly source their initial investment from where?
16.
Which part of the business plan includes names of founders and the number of employees?
17.
What does "Investment" mean according to the Unit 7 key words?
18.
According to the text, an entrepreneur is a person with a high need for what?
19.
Which entrepreneurial model involves companies like Apple or Google?
20.
In a management plan, what information about the owner helps money lenders?
21.
Entrepreneurship is the ability to create and build something from what?
22.
What is "Income" as defined in the key words of Unit 7?
23.
Situational analysis considers internal factors which include enterprise's what?
24.
To start any business, your enterprise should be ______ and licensed.
25.
Which type of entrepreneurship aims to solve social problems?
26.
What does the "Financial Plan" help to plan?
27.
An entrepreneur is described as a "moderate ______ taker."
28.
Which entrepreneurial model starts with the intention of growing into a large corporation from the beginning?
29.
The "Place" in a marketing plan refers to where the product will be ______.
30.
What is a "Situational Analysis" external factor?
