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Entrepreneurship
JEOPARDY!
Chapter 1
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!
Entrepreneurship
Types of
Ownership
Advantages and
Disadvantages
Going into
Business
Extras
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Entrepreneurship
Characteristics of an entrepreneur are they are
confident and goal orientated. True or False
What is a True?
Entrepreneurship
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
What is persistent?
Entrepreneurship
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
What is inquisitive?
Entrepreneurship
An individual who undertakes the creation,
organization, and ownership of an innovative
business with potential for growth.
What is an Entrepreneur?
Entrepreneurship
The process of recognizing or creating an opportunity,
testing, it in the market, and gathering the resources
necessary to go into business.
What is entrepreneurship?
Types of
Ownership
A business that is owned and operated by one
person?
What is sole proprietorship?
Types of
Ownership
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.
What is a corporation?
Types of
Ownership
An unincorporated business with two or more
owners who share the decisions, assets,
liabilities and profits.
What is Partnership?
Types of
Ownership
The owners of a corporation.
What is a shareholder?
Types of
Ownership
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.
What is a nonprofit corporation?
Advantages and
Disadvantages
A disadvantage of this type of ownership is profits
are taxed twice.
What is corporation?
Advantages and
Disadvantages
A disadvantage of this type of ownership is there
may be personality conflicts.
What is partnership?
Advantages and
Disadvantages
A disadvantage of this type of ownership is it
is expensive to setup with the legal
documentation.
What is a corporation?
Advantages and
Disadvantages
A disadvantage of this type of ownership is
capital is difficult to raise.
What is a sole proprietorship?
Advantages and
Disadvantages
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.
What is sole proprietorship?
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?
Going into
Business
Starting a(n) ________ business will mean
you will have extremely long hours and the
highest risk level.
What is new?
Going into
Business
With this type of business there is
restrictions on how you the run the
business.
What is franchise?
Going into
Business
A disadvantage of this type of business is the
business could already be failing and have a poor
reputation.
What is buying existing?
Going into
Business
.
List three advantages
of starting a
new business instead of starting a
franchise or buying an existing
business.
What is control everything, completely your
idea, pride, or no prior damage to undo?
Extras
One way to prevent some of the problems that a family
businesses face is to establish clear lines of responsibility.
True or False.
What is true?
Extras
List three characteristics of a successful
entrepreneur.
What is confident, determined, creative,
flexible, self motivated, risk taker,
resourceful?
Extras
The least regulated of all forms of ownership.
What is sole proprietorship?
Extras
List two of the four categories a nonprofit
corporation must fall within in order to be a
nonprofit corporation.
What is religion, charity, public benefit, or
mutual benefit?
Extras
List three contributions entrepreneurs make
to society.
What is recognize consumer wants and
needs, create a market for venture capitalist,
provide jobs for communities and change
society?