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Entrepreneurship JEOPARDY! Chapter 1 Get ready to play…

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Presentation on theme: "Entrepreneurship JEOPARDY! Chapter 1 Get ready to play…"— Presentation transcript:


2 Entrepreneurship JEOPARDY! Chapter 1 Get ready to play…

3 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!

4 $500 $400 $300 $200 $100 Types of Ownership Extras Going into Business Advantages and Disadvantages Entrepreneurship

5 What is a True? Characteristics of an entrepreneur are they are confident and goal orientated. True or False Entrepreneurship

6 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

7 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

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

9 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

10 What is sole proprietorship? A business that is owned and operated by one person? Types of Ownership

11 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

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

13 What is a shareholder? The owners of a corporation. Types of Ownership

14 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

15 What is corporation? A disadvantage of this type of ownership is profits are taxed twice. Advantages and Disadvantages

16 A disadvantage of this type of ownership is there may be personality conflicts. What is partnership? Advantages and Disadvantages

17 What is a corporation? A disadvantage of this type of ownership is it is expensive to setup with the legal documentation. Advantages and Disadvantages

18 What is a sole proprietorship? A disadvantage of this type of ownership is capital is difficult to raise. Advantages and Disadvantages

19 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

20 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?

21 What is new? Starting a(n) ________ business will mean you will have extremely long hours and the highest risk level. Going into Business

22 What is franchise? With this type of business there is restrictions on how you the run the business. Going into Business

23 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

24 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

25 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

26 What is confident, determined, creative, flexible, self motivated, risk taker, resourceful? List three characteristics of a successful entrepreneur. Extras

27 What is sole proprietorship? The least regulated of all forms of ownership. Extras

28 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

29 What is recognize consumer wants and needs, create a market for venture capitalist, provide jobs for communities and change society? List three contributions entrepreneurs make to society. Extras

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