Entrepreneurship Block Final Exam Practice

There are generally four types of businesses: manufacturing, wholesaling, retailing, and franchising.

• true
• false

Entrepreneurial businesses include retailing businesses, such as clothing and furniture stores, but do not include service businesses.

• true
• false

An entrepreneur who is green focuses on

• helping others who are in need
• finding societal needs that are not being met by the governement
• conserving resources
• operating with integrity

You can learn about business opportunities by talking to other entrepreneurs.

• true
• false

To decide whether or not a business opportunity is realistic for you, compare your background and experience with the experience of people who own that kind of business.

• true
• false

A SMART goal is specific, measurable, attainable, realistic, and timely.

• true
• false

Entrepreneurs should not be afraid of making mistakes.

• true
• false

Needs are things that you must have in order to survive.

• True
• False

The role of businesses is to produce and distribute goods and services that people need and want. 

• True
• False

All economic resources have a limited supply. 

• True
• False