Mr. Singh’s BDI3CI – Unit 1 – Test Review
Name:
____________________
Entrepreneurs and Enterprising People
Define the following:
Characteristic
Skill
Entrepreneur
Enterprising Person
Intrapreneur
Ethics
Answer the following:
1. What are the rewards of being an Entrepreneur?
2. List 4 skills that are important to run a business. Where can you acquire these skills?
3. List the 4 colours in the True Colours personality identification test and what each colour
represents (main personality traits)
4. What is the most important factor in entrepreneurship?
5. What is the difference between a small-scale and a large-scale venture?
6. Explain what FedEx CEO, Fred Smith means when he says, “Entrepreneurs are
certainly risk-takers, but I think the thing people don’t recognize about an entrepreneur is
that they don’t assess the risk to be nearly as great as other people would.”
7. What’s the difference between a calculated risk and a gamble?
8. What calculated risks did Max Ward take to become successful in his business?
9. Why is ethical practice important for Entrepreneurs and Enterprising people?
10. Differentiate between goods that are needs and goods that are wants. Also, give
examples
11. Explain the concept of supply and demand
12. What are some of the reasons for the failure of ventures? List 2 new products that failed.
13. As per Maslow’s Hierarchy of Needs theory, what are the 5 needs of humans? List from
basic to higher needs and give 2 examples of each:
14. List 4 Characteristics of an Entrepreneur and 4 characteristics of an Enterprising
Person:
15. List 4 things that motivate an enterprising person:
16. List 5 of your own characteristics that may help you become an enterprising person
17. List 2 weaknesses that you would like to improve upon in the next year:
18. What Entrepreneurial traits does Bob Deluce of Porter Airlines have to make his airline a
successful?
19. List one characteristic of Max Ward that was a negative trait. Give an example from the
video to support your answer.