Which is an example of a demographic trend?

A concern for fitness and health

What is a benefit of starting a new business from scratch

You are creating something that is uniquely your own

The business will make profits quickly

The business will have name and brand recognition

Your start-up costs will be small

Which is an advantage of owning a franchise?

The company has wide-spread name and brand recognition

Owners spend a lot of time in the beginning getting things up and running.

Owners pay a large franchise fee up front to "buy-in"

Owners are locked into franchise rules, food, menu, etc

The definition of an entrepreneur is a person who

Is willing to take a risk in the hunt for new business opportunities

Provides entertainment to people in a variety of ways

Is active in their community and encourages business owners

Works for a large company creating new products

Why is collecting feedback from customers important?

To better understand what your customers like and dislike about your business.

So your customers think you care about what they think.

To generate ideas for the business's marketing campaigns.

So your customers can’t put a bad review on Yelp

Identifying the target market for a product allows an entrepreneur to _____.

market the product to specific people

develop plans for expanding their business

worry less about the future of their business

better budget their time and money

What is the purpose of networking with other businesses?

To create a supportive system of sharing information and resources with businesses who have similar goals, interests, and clients.

To have businesses outside the network understand the benefits of being in the network.

To create stronger and more stable internet access for those who subscribe to the network.

To develop a web of organizations that is mutually beneficial while remaining exclusive and competitive.

If you owned a flower shop what kinds of businesses would you network with?

A wedding chapel, a funeral home and a hospital

A high school, nail salon and a burger restaurant

A pet store, a tire store and cell phone store

A comic book shop, a sea food shop and a greeting card shop

What is a target customer?

The ideal customers a business should try to attract

The possible customers for a business

The customers a business should avoid

The customers marketed to by competitors

Which is the best definition of "marginal benefit?"

The added satisfaction or benefit a person gets from buying one more product or service.

The added satisfaction or benefit a person gets from a substitute product or service.

The added benefit a person gets to their quality of life from buying one more product or service.

The added benefit a person gets from staying inside the margins.

What is marginal cost?

The change in the cost of producing one more unit of product

The cost of total overhead due to changes in production levels

The change in total production cost when the quantity produced changes by one unit.

The cost of total expenses required to get a business up and running.

For a business to make a profit which of the following has to be true?

Total revenues > Total expenses

Total revenues < Total expenses

Total revenues = Total expenses

Total revenues x Total expenses

What does total revenue minus total expenses indicate?

The profit or loss made by the business.

The total cost to keep the business open.

The total cost to run the business.

The total amount a company earned in a given time period.

Which kind of business opportunity is like buying a business kit?

Starting a new business from scratch

Starting a small business in your garage

Which is an example of information you would find in researching the wants and needs of potential customers for a food-service business?

1 in 133 people suffer from Celiac Disease and need to eat gluten free foods.

People like their cats and feed them expensive foods.

Most people don't like to go to the grocery store?

Pink is a popular color among adolescent girls.

What is a market segment?

A subgroup of a larger market that shares at least one characteristic or need

The produce section in a shopping center

A group sharing common resources and costs used during business start-ups

A breakdown of business strategy provided to customers for review and investigation.

Marketing is the _____.

act or process of promoting your business to potential customers

act or process of going to the grocery store

act or process of selling an existing business

act or process of creating a sales plan

What should you do when you receive feedback from customers?

Thoughtfully consider their opinions.

Laugh at them behind their backs.

Do everything everyone suggests.

What is a business's competition?

A business with a percentage of the market share

A similar business you want to be better than.

A business you plan to steal customers from.

A business owned by someone you don’t get along with.

Which of the following is an appropriate response to negative feedback

Thank the person giving the feedback and tell them you'll consider it

Call the person providing the feedback names

Refusing to acknowledge you received the feedback

Yell at the person giving the feedback until they go away

A disadvantage to owning a franchise is....

you are limited in what product/service you can sell.

you can get help if you need it.

you can rely on the good name of the parent company.

What is an entrepreneur?

A person who organizes and operates a business or businesses.

A person who is in charge of a specific location.

A person who works for someone else in order to learn skills.

Entrepreneurship Review

Authored by Brenda Shantz

Business, Life Skills

9th - 12th Grade

CCSS covered

Used 55+ times

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

Content View
Student View

100 questions

Show all answers

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Successful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have which characteristic for what they do?

Reservations

Concerns

Apathy

Passion

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Home-based businesses are attractive to many people because of which factor?Home-based businesses usually:

yield higher profit margins.

provide owners a steady income.

have lower start-up costs.

require less technical training.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a disadvantage of entrepreneurship?

Fewer resources

Personal satisfaction

Lower taxes

Uncertain income

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is a financial concern that entrepreneurs often face when starting new businesses?

Irregular paychecks

Long working hours

Shorter vacations

Lower production standards

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal?

Creativity

Self-discipline

Risk-taking

Flexibility

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is considered a reliable information source for a business start-up?

Wikipedia (www.wikipedia.org/wiki/Entrepreneurship)

The Project Management Institute (www.pmi.org)

The Small Business Administration (www.sba.gov)

The National Retail Federation (www.nrf.com)

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which statement is true about a business environment?

It can be avoided.

It is always changing.

It consists of the economy and technology.

It may not affect the business, depending on the industry.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Microsoft

or continue with

Facebook

Apple

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?

Similar Resources on Wayground

99 questions

DECA Finance Practice Test #1184

Quiz

•

9th - 12th Grade

100 questions

DECA EXAM – State Competition Qualification

Quiz

•

9th Grade

100 questions

Final Exam Study Guide

Quiz

•

9th - 12th Grade

100 questions

Business 1.1

Quiz

•

12th Grade

105 questions

LATIHAN MIDI 3

Quiz

•

11th Grade

100 questions

Marketing Management EOPA Review (Part 1)

Quiz

•

9th - 12th Grade

100 questions

RO67 - Topic Area 3 Mega Quiz

Quiz

•

10th Grade

Popular Resources on Wayground

10 questions

How much do you know about our Portrait of an Eagle?

Quiz

•

10th Grade

10 questions

Fast Food Slogans

Quiz

•

6th - 8th Grade

21 questions

Continents and Oceans

Quiz

•

6th Grade

20 questions

Parts of Speech

Quiz

•

5th Grade

16 questions

Subject & Predicate

Quiz

•

5th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

12 questions

Map Skills

Quiz

•

3rd Grade

22 questions

Continents and Oceans

Quiz

•

5th Grade

Discover more resources for Business

13 questions

BizInnovator Startup - Experience and Overview

Quiz

•

9th - 12th Grade

25 questions

BOR: Chapter 3 Test Review

Quiz

•

9th - 12th Grade

10 questions

Marketing Concepts Quiz

Interactive video

•

9th - 12th Grade

Entrepreneurship Review

Successful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have which characteristic for what they do?

Home-based businesses are attractive to many people because of which factor?Home-based businesses usually:

What is a disadvantage of entrepreneurship?

Which is a financial concern that entrepreneurs often face when starting new businesses?

What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal?

Which is considered a reliable information source for a business start-up?

Which statement is true about a business environment?

Which is an example of a demographic trend?

What might be a motivation to become an entrepreneur

What is a benefit of starting a new business from scratch

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Business