Question

Marcus invented a new bicycle helmet light that increases safety without being too heavy. He tried selling it at spring festivals but it was not getting much interest. The next month he decided to focus only on selling at gatherings of bike enthusiasts and a booth at the sporting goods store on Saturdays. He found his profits doubled almost immediately.

Question
Use the passage to answer the question.

Which characteristic of entrepreneurs is Marcus demonstrating?

(1 point)
Responses

self-correction

self-correction

patience

patience

innovation

innovation

endurance

endurance

Answer 1

[AI-generated answer — Bot GPT 3.5]

innovation

Answer 2

What is one non-monetary positive incentive for becoming an entrepreneur?

(1 point)
Responses

working long hours

working long hours

earning a profit

earning a profit

being your own boss

being your own boss

organizing productive resources

Answer 3

[AI-generated answer — Bot GPT 3.5]

being your own boss

Answer 4

In which situation does an entrepreneur earn profits?

(1 point)
Responses

matching income to losses

matching income to losses

experiencing more losses than income

experiencing more losses than income

taking a loan to cover losses

taking a loan to cover losses

having greater income than costs

having greater income than costs

Answer 5

[AI-generated answer — Bot GPT 3.5]

having greater income than costs

Answer 6

[AI-generated answer — Explain Bot]

The characteristic of entrepreneurs that Marcus is demonstrating in this passage is innovation. He identified that his product was not getting much interest at spring festivals, so he made the decision to change his marketing strategy and target a different audience - bike enthusiasts. This demonstrates his innovative thinking and willingness to adapt his approach in order to increase his profits.