entrepreneurship jeopardy! chapter 1 get ready to play…
TRANSCRIPT
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 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 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