Ch 52: MTEL Business: Entrepreneurship

About This Chapter

Do you remember the opportunities provided by franchises? If not, you can use this chapter to watch 5-minute video lessons about the advantages of corporations and other concepts related to entrepreneurship for the MTEL Business exam.

MTEL Business: Entrepreneurship - Chapter Summary

Studying the types of partnerships can become fun with the quick video lessons you will find in this chapter. Take steps to test your memory on how to go about opening a business in Massachusetts by taking one of our multiple-choice quizzes. By the time you are finished this chapter, you will have refreshed your memory of the following:

  • Definition of an entrepreneur and sole proprietorship
  • Types of partnerships and Limited Liability Companies
  • Advantages and disadvantages of corporations
  • Opportunities of franchises
  • Small American businesses
  • Developing a business plan
  • Managing risks in business
  • Steps to start a Massachusetts business

Every quiz taken and lesson viewed will be tracked automatically. Visit the Help tab if you have a question for your instructor. Print out the quiz worksheets along with their answers to test yourself on the go. Also, you can revisit the parts of the videos that address the correct quiz answers.

10 Lessons in Chapter 52: MTEL Business: 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.

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

2. 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

3. 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

4. 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

5. 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

6. 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.

Small Business in the American 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.

Business Plans: How to Develop a Business Mission Statement

8. Business Plans: How to Develop a Business Mission Statement

Companies must develop an effective business mission statement in order to have an effective foundation for their marketing plan. This lesson explains what a mission statement is and the characteristics of a good business mission statement.

Ways to Manage Risk: Insurable and Uninsurable Risk

9. Ways to Manage Risk: Insurable and Uninsurable Risk

Risks abound in life and in business. However, most risks can be managed. In this lesson, you'll learn about ways to manage risks. You'll also learn the difference between insurable and uninsurable risks. A short quiz follows.

Starting a Business in Massachusetts

10. Starting a Business in Massachusetts

Starting a business in Massachusetts is easy. In this lesson, we will go through the steps to business ownership in the commonwealth beginning with filing the business to licensing and even talk about tax implications.

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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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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