B04 - Micro Business for (Ohio) Teens – Part 2
Q.1
According to Carol Topp, CPA and author, starting a Micro Business begins with developing an idea. Of the items listed below, which would be a method of developing an idea?
A perspective entrepreneur recognizes a need
A perspective entrepreneur combines an interest with a skill or talent
A perspective entrepreneur brainstorms with potential customers to develop an idea
All of the above
Q.2
Lenaya, who was featured in this video, developed an idea which was to teach Chinese to school children. She set a goal to reach with the earnings from her business. What was the goal?
To return to China for a visit and give her foster grandmother a gift
To live in China permanently
To rent a building for her business
To buy a car
Q.3
According to Ms. Topp, you can run what type of business as an entrepreneur?
Product based
Service based
A successful business
Both Product based and Service based
Q.4
What was the idea behind the Micro Business started by Carly and Hannah who were featured in this video?
Placing tarantulas in jewelry store cases after hours to prevent thefts
Using their knitting skills to make and sell scarves
Selling candles with fragrances that appeal to men
Teaching ballet in their home
Q.5
Libby was also featured in this video. What is one goal that Libby hopes to reach with her consignment clothing Micro Business?
To become wealthy
To buy a new car
To purchase an iPAD
To fund college and medical school