Entrepreneurship Exam Review

These are some exam questions that may be asked. You are responsible for all materials covered in class.
These questions are examples to help you study!
Section 1: Matching Vocabulary (24pts)

Price
Business Plan
Services
Skill
Revenue
Free Enterprise System
Profit
Labour Code
Strike
Demographics
Fad
Assets
Loan
Ethics

Cash Flow
Primary Research
Marketing
Feasibility
Break Even point
Opportunity
Entrepreneur
Competition
Prototype
Venture
Product
Price

Trend
Copyright
Elevator Pitch
Fixed costs
Market
Inventory
Liabilities
Logo
Promotion
SWOT Analysis
Social Entrepreneur
Innovation

Section 2: Financial / Balance Sheet (9 pts)

1. Construct a balance sheet (assets and liabilities)
2. Cash Flow Projection (how much money was spent and how much money was made at the
end of the month?) Expenses, Revenues, Profit? Will the business make money that month
or lose money?
3. The Income Statement --- What is it? Construct an example.

Section 3: Short Answers (12 pts) There will be choice

1.
2.
3.
4.
5.
6.

Is an entrepreneur born or learned? Explain with evidence/example.

What is SCAMPER? What does each letter stand for? How is it used?
Explain the 4 Ps of Marketing.
What is Intellectual property and why is important in the business world?
What is the difference between a trend and a fad? Give some examples.
What is a business plan and explain 2 benefits of having one.

Section 4: Business Plan (15 pts)

1. What are the different parts of a business plan? Explain the purpose of each one.
(Executive Summary, Proposed Business, Industry Research, Operations, Market Analysis, SWOT Analysis, Financial
Information/Analysis)

2. Think of an Idea and make a business plan from it.

Section 5: Case Study (10 pts)
1. Read the case study and answer the questions.