Ch 8: PLACE Marketing: Entrepreneurship

About This Chapter

Brush up on facts about entrepreneurship, including how to develop a business plan and manage a small business. These lessons can prepare you to answer these types of questions on the PLACE Marketing Education exam.

PLACE Marketing: Entrepreneurship - Chapter Summary

As you study for the PLACE Marketing Education exam, use the lessons in this chapter to refresh your knowledge of entrepreneurship, types of business structures and management for a small business. Our videos can help you with questions on the following topics:

  • Characteristics of an entrepreneur
  • Sole proprietorships, partnerships, LLCs and corporations
  • Pros and cons of franchises
  • How to develop a business plan
  • Capital and working capital
  • Start-up budgets
  • Microfinance
  • Small business management
  • The role of small business in the American economy

These entertaining lessons, filled with real-life examples examples, are developed by expert instructors. Each video is accompanied by a written transcript and a quiz that ties back to key points.

Objectives of the PLACE Marketing: Entrepreneurship Chapter

Colorado makes passing the PLACE Marketing Education exam a requirement for earning a license to teach the subject. There are three subareas on the exam. Questions on the material in our Entrepreneurship chapter are covered within the Marketing subarea.

Every question on the PLACE Marketing exam is multiple choice, asking you to select the best answer from several options. The quizzes developed to go with our lessons are also multiple choice. These quizzes let you gauge your learning and get experience answering questions in the format you'll meet on exam day.

14 Lessons in Chapter 8: PLACE Marketing: 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.

Business Plans: How to Develop a Business Mission Statement

7. 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.

What Is Capital? - Definition & Concept

8. What Is Capital? - Definition & Concept

Capital is a fundamental concept in business. In this lesson, you'll learn about capital and some related concepts. You'll also have a chance to take a short quiz after the lesson to reinforce your knowledge.

What Is Working Capital? - Definition & Formula

9. What Is Working Capital? - Definition & Formula

This lesson explains what working capital is, how it is used in a business, and why businesses need working capital to stay functional. We'll also look at the formula used to calculate working capital.

Start-Up Budget: Definition & Example

10. Start-Up Budget: Definition & Example

This lesson will define a start-up budget. We'll look at an example budget from the perspective of a potential lender, along with a list of items to remember when building the budget.

Microfinance for Entrepreneurs & Small Businesses

11. Microfinance for Entrepreneurs & Small Businesses

In this lesson, we define what microfinancing is and explore the uses and goals of this incredibly new and exciting form of economic assistance geared toward helping those in the third world.

Managing a Small Business

12. 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.

Entrepreneurship & the Economy: Definition & Importance

13. 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.

Small Business in the American Economy

14. 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.

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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