8th Grade Module 3 Entrepreneurship for Testing

Which component of a business plan presents the qualifications of entrepreneurs?

• Executive Summary
• Product/Service Plan
• Management Team Plan
• Industry/Market Analysis

In which part of the entrepreneurial process does the entrepreneur consider the consumer needs and wants?

• Discovery
• Concept Development
• Resourcing
• Actualization

Which component of a business plan presents the unique features of what the business is selling?

• Executive Summary
• Product/Service Plan
• Management Team Plan
• Industry/Market Analysis

What could cause a new business to have very few sales during its first year?

• Failure to apply for a loan or a grant
• Failure to pay taxes for the new business
• Lack of a good advertising campaign
• Lack of a trademark for the company logo

Which component of a business plan includes key employment policies?

• Organizational Plan
• Marketing Plan
• Financial Plan
• Growth Plan

Which component of a business plan is a brief description of the key points of each section of the business plan?

• Executive Summary
• Product/Service Plan
• Management Team Plan
• Industry/Market Analysis

In which stage of the entrepreneurial process does the entrepreneur hold the Grand Opening?

• Discovery
• Concept Development
• Actualization
• Harvesting

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs want to make their own decisions, set their own schedules, and can work without supervision?

• Goal-oriented
• Independent
• Risk-takers
• Self-confident

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs develop a plan of action and make decisions to help achieve that plan?

• Goal-oriented
• Independent
• Risk Taker
• Self-confident

Listing people and businesses who might give money to start the business, completing an application for a business loan at the bank, and advertising for people to work in the new business are all classified as which stage of the entrepreneurial process?

• Discovery
• Concept Development
• Resourcing
• Actualization