About This Chapter
Praxis Business: Entrepreneurship - Chapter Summary
You can learn the qualities that entrepreneurs have in common and find out what kinds of opportunities are available to them in this chapter. Explore the various forms of businesses, such as partnerships, sole proprietorships and corporations. Review the basics of running a small business, by starting with a business plan and looking at the requirements of effective management. This chapter includes lessons that address the following key topics:
- Entrepreneurs' characteristics and opportunities
- Business plan elements and reasoning
- The American economy and small businesses
- Survival of small businesses in a global market
- Fundamentals of partnerships, corporations and sole proprietorships
You can learn all about entrepreneurship for your Praxis Business Education test with these concise and engaging video lessons taught by professional instructors. Watch each video lesson as many times as you wish. Text transcripts are also readily available, if you'd rather read the lessons.
Praxis Business: Entrepreneurship Objectives
The section of your test allocated to entrepreneurship contains approximately 12 questions, which is about 10% of the entire exam. Tested concepts include the characteristics of entrepreneurship, opportunities available to entrepreneurs and the various types of ownership, in addition to the elements and reasoning connected to business plans. These quizzes can help you prepare for the types of questions that might appear on this multiple-choice test.
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.
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.
3. Funding Opportunities for Entrepreneurs
Do you dream of owning your own business? You know that it takes money to get started, but what can you do to raise the cash? This lesson discusses a variety of funding options that are available for entrepreneurs.
4. 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.
5. 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.
6. Small Business in a Global Market
As the world moves closer to a global economy, more small businesses will look to expand into international markets. In this lesson, you'll learn about some of the advantages and disadvantages that small businesses face in a global market.
7. 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.
8. 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.
9. 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.
10. 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.
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Other chapters within the Praxis Business Education - Content Knowledge (5101): Practice & Study Guide course
- Praxis Business: Accounting
- Praxis Business: Personal Finance
- Praxis Business: Business Finance
- Praxis Business: Foundations of Communication
- Praxis Business: Written & Oral Communication
- Praxis Business: Employment Communication & Career Research
- Praxis Business: Economic Allocation of Resources
- Praxis Business: Economic Systems & Market Structures
- Praxis Business: Role of the Government in Economics
- Praxis Business: Economic Indicators of Growth
- Praxis Business: Information Technology Operations and Concepts
- Praxis Business: Technology Tools
- Praxis Business: Computer Applications
- Praxis Business: Programming & Design
- Praxis Business: Foundations of International Business
- Praxis Business: International Business Environment
- Praxis Business: Contract Law
- Praxis Business: Consumer & Computer Law
- Praxis Business: US Court System
- Praxis Business: Marketing
- Praxis Business: Management
- Praxis: Professional Business Education
- Praxis Business Education: Content Knowledge Flashcards