Marketing/Entrepreneurship Quiz

In a balanced budget, the amount you ______ is ______ the amount you earn.

• save; less than

• spend; greater than

• spend; equal to

• save; greater than

Which of the following is NOT a fixed expense?

• Movie tickets

• Rental payment

• Internet service

• Cell phone bill

Which of the following is a fixed expense?

• Clothing purchases

• Groceries

• Rental payments

• Movie tickets

What is income?

• Income is payments you make to the federal government.

• Income is money you receive after paying taxes.

• Income is payments you make to the government to pay for roads, bridges, and schools.

• Income is money you earn, usually from working at a job.

Typically, how do people earn income?

• Most people earn income by paying taxes.

• Most people earn income by working at a job.

• Most people earn income by saving a portion of their paycheck each month.

• Most people earn income by spending more than they earn each month.

Which of the following would be an example of a NEED?

• A new pair of headphones

• Designer shoes

• A warm winter coat

• Your favorite candy

Which of the following would be an example of a WANT?

• A place to live

• Movie tickets

• Critical medicine

• A warm winter coat

They sell directly to the customer, for instance a local shoe store that gets its shoes from the different shoe company to sell to customers that come into the store.

• Wholesalers

• Manufacturers

• Entrepreneurs

• Retailers

An overview of your business goals and includes details on how you think you are going to achieve them.

• Business Opportunity

• Business Plan

• Entrepreneurship

• Features

A consumer need or want that can be potentially met by a new business.

• Feature

• Competition

• Break-Even Point

• Business Opportunity