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Entrepreneurship Unit Test

Authored by Kristin Sellers

Life Skills

9th - 12th Grade

Used 3+ times

Entrepreneurship Unit Test
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34 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A written description of a new business venture that describes all aspects of the business is called a(n) _________.

Business Plan

Entrepreneurial Map

Business Blueprint

Business Pitch

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of being an entrepreneur?

You have to work long hours and be last to leave.

You will enjoy 100% of profit and incur 100% of the losses.

You can possibly earn large profits on your business.

You have to ensure that all employees are content.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How would you summarize the concept of entrepreneurship?

The process of starting a business of one's own

The process of middle-management decision making

The process of running a corporation

The process of borrowing money to go into business.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Forming your own business by using all of your savings, borrowing money from the bank, and being personally liable for all risks.

Partnership

Corporation

Sole Proprietorship

Franchise

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a common reason for the failure of a new business?

Understanding and demonstrating your product

Locating your business in a high-traffic area

Controlling and monitoring operating expenses

Inadequately developing your business plan

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do most people choose to work for someone else?

Because there is less risk when working for someone else.

The need for a steady paycheck.

Because it is easier to do so.

All of the above.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most common characteristics that successful entrepreneurs share is being

Tech Savvy

A risk taker

Mechanically inclined

All of the above

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