JeopardyKey Terms

Growth in Canadian Business

Skills and Characteristics

Invention vs. Innovation Entrepreneurs

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Final Jeopardy

$100 Question from Key Terms

What is an entrepreneur?

$100 Answer from Key Terms

A person who takes risks and organizesresources in order to satisfy needs.

$200 Question from Key Terms

What is the difference between wantsand needs?

$200 Answer from Key Terms

Needs: Essential for human survival

Wants: Human desires that go beyond basic needs and are not essential for survival

$300 Question from Key Terms

What is E-Business?

$300 Answer from Key Terms

Conducting business practices through Internet technologies

$400 Question from Key Terms

What does demographic mean?

$400 Answer from Key Terms

The study of the characteristics of people in a population

$500 Question from Key Terms

What is a market niche?

$500 Answer from Key Terms

A specific segment of a market

$100 Question from Growth in Canadian Business

How has a change in technology help businesses grow?

$100 Answer from Growth in Canadian Business

1) Change the way businesses produce,buy, and sell goods

OR

2) Change the way we communicatewith one another

$200 Question from Growth in Canadian Business

What is globalization?

$200 Answer from Growth in Canadian Business

The increasing trend of doing businessInternationally

$300 Question from Growth in Canadian Business

What is the term used to describe a business’ desire to do what’s best for society and the environment?

$300 Answer from Growth in Canadian Business

Social Responsibility

$400 Question from Growth in Canadian Business

What is a main reason for the growthin small businesses?

$400 Answer from Growth in Canadian Business

People starting more home businesses

$500 Question from Growth in Canadian Business

What is contract labour?

$500 Answer from Growth in Canadian Business

Hiring experts to help with certainfacets of a business’ task

$100 Question from Skills and Characteristics

Why does an entrepreneur need to be motivated?

$100 Answer from Skills and Characteristics

They are driven by an internal need for accomplishment.They will actively seek opportunities for success.

$200 Question from Skills and Characteristics

Why do entrepreneurs need to be optimistic?

$200 Answer from Skills and Characteristics

They need to have a positive mental attitude.Minor setbacks or roadblocks do notdiscourage them.

$300 Question from Skills and Characteristics

Why is communication an important entrepreneurial skill to have?

$300 Answer from Skills and Characteristics

Entrepreneurs need to be able to listen, speak,and write well

$400 Question from Skills and Characteristics

Why is being flexible important forentrepreneurs?

$400 Answer from Skills and Characteristics

They need to be able to adjust to the changingmarketplace and changing technology. They willtry need ideas if their first one doesn’t work.

$500 Question from Skills and Characteristics

What makes an entrepreneur unique?

$500 Answer from Skills and Characteristics

No two entrepreneurs are alike. Theircharacteristics and skills differentiate themselvesfrom one another.

$100 Question from Invention vs. Innovation

What is an invention?

$100 Answer from Invention vs. Innovation

The generation of new ideas,technologies, or goods andservices

$200 Question from Invention vs. Innovation

What is innovation?

$200 Answer from Invention vs. Innovation

The application of new ideas, technologies,or materials to existing goods and services

$300 Question from Invention vs. Innovation

What is the difference between a franchiser and a franchisee?

$300 Answer from Invention vs. Innovation

Franchiser: The parent company who grants the franchise and provides goods and/orservices to the franchisee.

Franchisee: A person who runs a franchiseoperation and is under a contract or licensingagreement, with the franchiser

$400 Question from Invention vs. Innovation

What is intrapreneurship?

$400 Answer from Invention vs. Innovation

Entrepreneurship that occurs within anexisting organization or corporation

$500 Question from Invention vs. Innovation

What are the three ways to protect your idea?

$500 Answer from Invention vs. Innovation

1) Patent2) Trademark3) Copyright

$100 Question from Entrepreneurs

What is an enterprising person?

$100 Answer from Entrepreneurs

People who demonstrate many ofthe characteristics of an entrepreneur.

$200 Question from Entrepreneurs

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$200 Answer from Entrepreneurs

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$300 Question from Entrepreneurs

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$400 Question from Entrepreneurs

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$500 Question from Entrepreneurs

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$500 Answer from Entrepreneurs

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Final Jeopardy

What are two advantages and two disadvantages to owning a franchise?

Final Jeopardy AnswerAdvantage:1)Each uses the same standardized product or service2)Pay less for material (advertising) and technological resources3) Greater chance for success4) Brand recognition

Disadvantage:1)High cost to buy2)No room for creativity – follow exact plan3)Continuing royalty payments4)Limited opportunity for growth