What are differences between products and services

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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.

Reference no: EM132085115

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