Entrepreneurs Recognize Opportunities
1) What is an entrepreneur and what are differences between products and services?
2) How is small business defined?
3) What is an economy? Why is a free enterprise system/ capitalism necessary for entrepreneurs to thrive? How is socialism different?
4) Name 3 benefits and 3 costs of being an entrepreneur.
5) What is opportunity cost and cost/benefit analysis?
6) What is social entrepreneurship?
7) Why is every idea not necessarily a viable option for a startup business?
8) What are Schumpeter's 5 ways to find opportunities for new businesses?
9) What is necessary for a business to survive in the long-run?
10) Explain what is meant by "The Entrepreneurial Myth," the "Entrepreneurial Seizure" and the "Fatal Assumption."
11) Explain the 3 roles that a successful entrepreneur must take on to succeed.