Entrepreneurship Exam Review

Entrepreneurship Exam Review

These are some exam questions that may be asked. You are responsible for all materials covered in class. These questions are examples to help you study!Section 1: Matching Vocabulary (24pts)

Price

Business Plan

Services

Skill

Revenue

Free Enterprise System

Profit

Labour Code

Strike

Demographics

Fad

Assets

Cash Flow

Primary Research

Marketing

Feasibility

Break Even point

Opportunity

Entrepreneur

Competition

Prototype

Venture

Product

Price

Trend

Copyright

Elevator Pitch

Fixed costs

Market

Inventory

Liabilities

Logo

Promotion

SWOT Analysis

Social Entrepreneur

Innovation

LoanEthicsSection 2: Financial / Balance Sheet (9 pts)

1. Construct a balance sheet (assets and liabilities)

2. Cash Flow Projection (how much money was spent and how much money was made at the end of the month?) Expenses, Revenues, Profit? Will the business make money that month or lose money?3. The Income Statement --- What is it? Construct an example.Section 3: Short Answers (12 pts) There will be choice1. Is an entrepreneur born or learned? Explain with evidence/example.2. What is SCAMPER? What does each letter stand for? How is it used?

3. Explain the 4 Ps of Marketing.

4. What is Intellectual property and why is important in the business world?

5. What is the difference between a trend and a fad? Give some examples.

6. What is a business plan and explain 2 benefits of having one.

Section 4: Business Plan (15 pts)

1. What are the different parts of a business plan? Explain the purpose of each one. (Executive Summary, Proposed Business, Industry Research, Operations, Market Analysis, SWOT Analysis, Financial Information/Analysis)

2. Think of an Idea and make a business plan from it. Section 5: Case Study (10 pts) 1. Read the case study and answer the questions.