An Entrepreneur Needs the Ability to Act Decisively and Be

question 31

Multiple Choice

An entrepreneur needs the ability to act decisively and be a leader of the business. This relates to which of the following entrepreneurial characteristics?

• A) confidence
• B) internal drive
• C) vision
• D) tolerance for uncertainty

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Definitions:

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.

Variable Costs

Costs that vary directly with the level of production or sales, such as materials and labor.

Net Income

The amount of money left over after all expenses and taxes have been subtracted from total revenue.

Units

Units refer to the individual components or quantities of a product, investment, or other items that are counted or measured.