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Entrepreneurship JEOPARDY! Chapter 1

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Title: Entrepreneurship JEOPARDY! Chapter 1


1
Entrepreneurship JEOPARDY! Chapter 1
Get ready to play
2
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
    penalizedso 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!

Lets Play!
3
Types of Ownership
Extras
Going into Business
Advantages and Disadvantages
Entrepreneurship
100
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300
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4
Entrepreneurship
  • Characteristics of an entrepreneur are they are
    confident and goal orientated. True or False

What is a True?
5
Entrepreneurship
  • 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

What is persistent?
6
Entrepreneurship
  • 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

What is inquisitive?
7
Entrepreneurship
  • An individual who undertakes the creation,
    organization, and ownership of an innovative
    business with potential for growth.

What is an Entrepreneur?
8
Entrepreneurship
  • The process of recognizing or creating an
    opportunity, testing, it in the market, and
    gathering the resources necessary to go into
    business.

What is entrepreneurship?
9
Types of Ownership
  • A business that is owned and operated by one
    person?

What is sole proprietorship?
10
Types of Ownership
  • 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.

What is a corporation?
11
Types of Ownership
  • An unincorporated business with two or more
    owners who share the decisions, assets,
    liabilities and profits.

What is Partnership?
12
Types of Ownership
  • The owners of a corporation.

What is a shareholder?
13
Types of Ownership
  • A legal entity that makes money for reasons other
    than the owners profit it can make a profit,
    but the profit must remain within the company.

What is a nonprofit corporation?
14
Advantages and Disadvantages
  • A disadvantage of this type of ownership is
    profits are taxed twice.

What is corporation?
15
Advantages and Disadvantages
  • A disadvantage of this type of ownership is there
    may be personality conflicts.

What is partnership?
16
Advantages and Disadvantages
  • A disadvantage of this type of ownership is it is
    expensive to setup with the legal documentation.

What is a corporation?
17
Advantages and Disadvantages
  • A disadvantage of this type of ownership is
    capital is difficult to raise.

What is a sole proprietorship?
18
Advantages and Disadvantages
  • 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.

What is sole proprietorship?
19
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?
20
Going into Business
  • Starting a(n) ________ business will mean you
    will have extremely long hours and the highest
    risk level.

What is new?
21
Going into Business
  • With this type of business there is restrictions
    on how you the run the business.

What is franchise?
22
Going into Business
  • A disadvantage of this type of business is the
    business could already be failing and have a poor
    reputation.

What is buying existing?
23
Going into Business
List three advantages of starting a new business
instead of starting a franchise or buying an
existing business.
  • .

What is control everything, completely your idea,
pride, or no prior damage to undo?
24
Extras
  • One way to prevent some of the problems that a
    family businesses face is to establish clear
    lines of responsibility. True or False.

What is true?
25
Extras
  • List three characteristics of a successful
    entrepreneur.

What is confident, determined, creative,
flexible, self motivated, risk taker, resourceful?
26
Extras
  • The least regulated of all forms of ownership.

What is sole proprietorship?
27
Extras
  • List two of the four categories a nonprofit
    corporation must fall within in order to be a
    nonprofit corporation.

What is religion, charity, public benefit, or
mutual benefit?
28
Extras
  • List three contributions entrepreneurs make to
    society.

What is recognize consumer wants and needs,
create a market for venture capitalist, provide
jobs for communities and change society?
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