About This Chapter
CSET Business Subtest III: Entrepreneurship - Chapter Summary
The lessons in this chapter help you gain an understanding of the pros and cons of entrepreneurship, including its contributions to the U.S. economy. Use these lessons to deepen your knowledge of subjects the exam covers. The videos go over:
- What is a Sole Proprietorship? - Definition, Advantages, Disadvantages & Examples
- The Basics of Partnerships: Types & Examples
- Corporations: Types, Advantages, Disadvantages & Examples
- Franchises: Opportunities and Challenges
- The Contribution of Entrepreneurs to the U.S. Economy
- What is an Entrepreneur? - Definition, Characteristics & Examples
- Small Business in the American Economy
- Managing a Small Business
- Starting a Business: Business Planning, Financing, Location Analysis, Regulatory Compliance, Government Assistance Available
Using concrete examples and accessible language, the videos in this chapter prepare you for subjects that come up on the CSET Business Subtest III.
CSET Business Subtest III: Objectives
The CSET (California Subject Examination for Teachers) Business exam tests both your knowledge and ability to meet basic skills requirements in business in preparation for California teacher licensing in this subject. The CSET Business Subtest III constitutes one-third of the CSET Business exam. In this subtest, you'll need to:
- Understand the principles of the various types of business ownership
- Describe how entrepreneurs contribute to the economy
- Describe the pros and cons of the different types of business ownership
- Understand the steps of creating a business plan
Subtest III consists of 40 multiple-choice questions. The self-assessment tests that accompany each video lesson help prepare you by providing practice in multiple-choice questions such as those on the exam.
The subtest also includes two constructed-response questions, which require you to discuss, analyze, interpret, or otherwise respond to a resource such as an introductory paragraph, quotation, map, or example situation. One constructed-response question on the subtest is short and focused; the other calls for an extended response. Reinforce your knowledge of international business with Study.com video lessons so you can feel confident going into the exam.
1. What is a Sole Proprietorship? - Definition, Advantages, Disadvantages & Examples
Many businesses start out as sole proprietorships. In this lesson, you'll learn what a sole proprietorship is and its advantages and disadvantages. You'll also have a chance to reinforce your knowledge with a short quiz.
2. The Basics of Partnerships: Types & Examples
Partnerships are a common way to organize a business in the United States. In this lesson, you'll learn about different types of business partnerships and their respective advantages and disadvantages. A short quiz follows the lesson.
3. Corporations: Types, Advantages, Disadvantages & Examples
Corporations are a popular form of business organization for large and small businesses. In this lesson, you'll learn about the advantages and disadvantages of a corporation. You'll also learn about S-corporations and C-corporations.
4. Franchises: Opportunities and Challenges
Franchises offer a way for a person to start a proven business. In this lesson, you'll learn about franchises, including their advantages and disadvantages. You'll also learn about diversity and global challenges in franchising.
5. What is an Entrepreneur? - Definition, Characteristics & Examples
Entrepreneurship is an important engine of growth in the economy. In this lesson, you'll learn about what an entrepreneur is and the key characteristics and skills that a successful entrepreneur possesses. Some examples of entrepreneurs will also be given.
6. Entrepreneurship & the Economy: Definition & Importance
Entrepreneurs fill a vitally important role in market economies. In this lesson, you'll learn about the importance of entrepreneurship, different types of entrepreneurs and how they add value to an economy.
7. Small Business in the American Economy
Nearly every business starts 'small.' In this lesson, you'll learn how a small business is defined, some characteristics of a small business, and the importance of them in the economy. You'll also learn why some small businesses fail.
8. Managing a Small Business
Small businesses are an important engine of growth in an economy. In this lesson, you'll learn about some key areas of small business ownership that an owner should master to be successful. A short quiz follows.
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Other chapters within the CSET Business Subtest III (177): Practice & Study Guide course
- CSET Business - Computer Technology
- CSET Business - Information & Media Systems
- CSET Business - Ethics, Security & Data Integrity
- CSET Business - Network Communications
- CSET Business - Programming
- CSET Business - Business Communications
- CSET Business - International Business
- CSET Business - Career Development
- CSET Business Subtest 3 Flashcards