Intro to Biz Final Review

A person who recognizes a business opportunity and organizes, manages, and assumes the risk of starting and operating a business.

Which of the following is NOT likely a characteristic of a successful entrepreneur?

Which of the following is a reward of entrepreneurship?

Which of the following is a challenge of entrepreneurship?

This type of business takes raw materials and turns them into a finished good. For example, a company that takes wood and produces furniture.

This type of business provides an intangible product, such as legal advice.

This type of business sells directly to the final consumer, such as a grocery store.

A business organization owned by two or more persons who agree on a specific division of responsibilities and profits.

A business owned and operated by a single individual.

An entity with the legal authority to act as a single person. Owned by shareholders.