1) Which type of entrepreneur uses innovation to help people and communities? a) Lifestyle b) Social c) Corporate d) Technology 2) A technology entrepreneur focuses on… a) New fashion lines b) Restaurants c) Inventions and new tech d) Charity work 3) True or False: Corporate entrepreneurs build businesses within an existing company. a) True b) False 4) Goal-oriented entrepreneurs… a) Focus on clear objectives b) Ignore planning c) Take random risks d) Avoid hard work 5) Resilient entrepreneurs… a) Give up quickly b) Never make mistakes c) Avoid failure at all costs d) Bounce back from setbacks 6) Enthusiastic entrepreneurs… a) Avoid risk b) Stay positive and motivate others c) Ignore challenges d) Focus only on money 7) True or False: Creative thinking is not important for entrepreneurs. a) True b) False 8) Problem solvers… a) Find excuses b) Focus on obstacles c) Look for solutions d) Wait for others to act 9) Which of the following is NOT a mindset trait? a) Resilient b) Enthusiastic c) Toolset d) Lifelong learner 10) A co-op is an ownership type where: a) One person owns it b) It’s owned by members for their benefit c) It’s government owned d) It sells shares 11) One advantage of a sole proprietorship is: a) Easy to start and control b) Unlimited liability c) Complex ownership d) Expensive to set up 12) One disadvantage of a partnership is: a) Shared decisions b) Unlimited liability c) Easier to get money d) Simple to start 13) Design thinking is a ______ process focused on empathy, ideas, and testing. a) Creative b) Bad c) Short d) Good 14) A cautious risk-taker will… a) Avoid all risks b) Take risks carefully after planning c) Always take the biggest risks d) Never try new ideas 15) Good communicators… a) Share ideas clearly b) Stay silent c) Focus only on themselves d) Avoid teamwork 16) Design planning is more about… a) Creativity and brainstorming b) Guessing ideas c) Taking risks d) Getting things done quick and efficiently 17) True or False: Creative thinking is not important for entrepreneurs. a) True b) False 18) A lifestyle entrepreneur builds a business to support: a) Their favourite music b) Their passion and way of living c) Large corporations d) Government 19) True or False: Entrepreneurs only succeed if they have lots of money to start. a) True b) False 20) A fixed mindset believes skills are: a) Changeable b) Natural and unchangeable c) Built through practice d) Learned at school 21) A ______ mindset believes you can improve through effort and practice. a) Fixed b) Growth c) Bad d) Entrepreneurial 22) A set of professional abilities needed for a job is called a... a) Toolset b) Mindset c) Skillset d) Business skill 23) The tools, metholodies, resources, and technology needed to accomplish tasks is a... a) Mindset b) Skillset c) Box set d) Toolset 24) True or False: A growth mindset helps entrepreneurs stay resilient. a) True b) False 25) Bonus: Which of these Canadian entrepreneurs started Shopify? a) Jim Balsillie b) Tobias Lütke c) Arlene Dickinson d) Kevin O’Leary

BEM Unit 1 Test Review

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