Question 1

Question

Marcus invented a new bicycle helmet light that
increases safety without being too heavy. He
tried selling it at spring festivals but it was not
getting much interest. The next month he
decided to focus only on selling at gatherings of
bike enthusiasts and a booth at the sporting
goods store on Saturdays. He found his profits
doubled almost immediately.
A)
Use the passage to answer the question.
Which characteristic of entrepreneurs is
Marcus demonstrating?
(1 point)
self-correction
patience
innovation
endurance
Question 2
A)
In which situation does an entrepreneur earn profits?
(1 point)
matching income to losses
experiencing more losses than income
taking a loan to cover losses
having greater income than costs
Question 3
A)
What is one non-monetary positive incentive for becoming an entrepreneur?
(1 point)
working long hours
earning a profit
being your own boss
organizing productive resource

Answer 1

Question 1
The characteristic of entrepreneurs that Marcus is demonstrating is self-correction. By changing his sales strategy and focusing on gatherings of bike enthusiasts and sporting goods stores after initially facing low interest, he adapted to improve his outcomes.

Question 2
An entrepreneur earns profits in the situation of having greater income than costs. Profits occur when the revenue generated exceeds the expenses incurred.

Question 3
One non-monetary positive incentive for becoming an entrepreneur is being your own boss. This aspect allows individuals to have autonomy and control over their work and decisions.