Which term describes a person who starts and runs a business, taking on its risks?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $24.99Unlock all

Prepare for the SkillsUSA Additive Manufacturing Test. Use flashcards and multiple choice questions, each with hints and explanations. Be exam-ready!

Multiple Choice

Which term describes a person who starts and runs a business, taking on its risks?

Explanation:
This item tests understanding of who starts and runs a business and bears its risks. An entrepreneur is someone who identifies an opportunity, creates a business around it, and assumes the financial and personal risk to make it happen. They organize resources, set the direction, and take responsibility for whether the venture succeeds or fails. An investor provides capital but doesn’t typically run the business day-to-day, a manager focuses on running operations within an existing organization, and an employee works for someone else.

This item tests understanding of who starts and runs a business and bears its risks. An entrepreneur is someone who identifies an opportunity, creates a business around it, and assumes the financial and personal risk to make it happen. They organize resources, set the direction, and take responsibility for whether the venture succeeds or fails. An investor provides capital but doesn’t typically run the business day-to-day, a manager focuses on running operations within an existing organization, and an employee works for someone else.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy