1. Name two types of entrepreneurship. 2. List five characteristics of an entrepreneur. 3. What is the difference between a business idea and...

1. Social entrepreneurship and serial entrepreneurship.
2. Risk-taking, innovation, passion, resilience, and leadership.
3. What is the difference between a business idea and a business opportunity?

1. Two types of entrepreneurship:
- Small business entrepreneurship: Starting and running a small business that primarily serves local customers.
- Scalable startup entrepreneurship: Building a business with the potential for rapid growth and expansion.

2. Five characteristics of an entrepreneur:
- Visionary: Ability to see opportunities and imagine the future.
- Risk-taking: Willingness to take calculated risks.
- Resilient: Ability to bounce back from setbacks and failures.
- Adaptable: Ability to respond quickly to changing market conditions.
- Passionate: Genuine excitement and belief in their business idea.

3. The difference between a business idea and a business plan is:
- Business idea is the initial concept or inspiration for a new business.
- Business plan is a detailed roadmap that outlines the strategy, operations, and financial projections for a business.