Ch 14: Entrepreneurship

About This Chapter

Take a look at our video lessons and learn the ins and outs of the world of entrepreneurship. Find out how entrepreneurs interact with the economy and the different types of businesses in which they can invest.

Entrepreneurship - About This Chapter

This chapter focuses on entrepreneurs and the role they play in the economy. Learn the key definitions of partnerships, small businesses, limited liability companies, corporations, and franchises. Find out why an entrepreneur might choose to invest in a business and the inherent advantages and disadvantages of each type of business.

You'll learn how to think like an entrepreneur in no time with our easy-to-understand video lessons. After digesting our informational lessons, you will understand:

  • The characteristics of an entrepreneur
  • How entrepreneurs affect the economy
  • Small business management
  • Advantages and disadvantages of a sole proprietorship
  • Different types of partnerships
  • Basics of limited liability companies (LLCs)
  • Advantages and disadvantages of different types of corporations
  • Value and obstacles of running a franchise

To make learning simpler and more enjoyable, our talented instructors have put together some quick video lessons for you to enjoy at your own pace. Follow along with video transcripts and try out our easy-to-use video tags when you want to go back and find key information in the videos. Then, check out our self-assessment quizzes to test what you've learned.

8 Lessons in Chapter 14: Entrepreneurship
Test your knowledge with a 30-question chapter practice test
What is an Entrepreneur? - Definition, Characteristics & Examples

1. 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.

Entrepreneurship & the Economy: Definition & Importance

2. 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.

Managing a Small Business

3. 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.

What is a Sole Proprietorship? - Definition, Advantages, Disadvantages & Examples

4. 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.

The Basics of Partnerships: Types & Examples

5. 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.

The Basics of LLCs: Limited Liability Companies

6. The Basics of LLCs: Limited Liability Companies

The limited liability company is one of the most popular business organizational forms for small and medium-sized businesses. In this lesson, you'll learn about the key characteristics of a limited liability company. A short quiz follows.

Corporations: Types, Advantages, Disadvantages & Examples

7. 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.

Franchises: Opportunities and Challenges

8. 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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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