
EntI_Unit 1 Lap Review
Authored by Steffanie Sharp
Business
10th - 12th Grade
Used 19+ times

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80 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a way that entrepreneurship helps our society:
Creates new jobs
Eliminate financial concerns
Reduces taxes
Decreases economic growth
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One difference between entrepreneurs and small-business owners is that
a. entrepreneurs usually purchase existing businesses or franchise rights.
small-business owners generally are not interested in expanding their businesses.
entrepreneurs rarely manage the day-to-day aspects of their businesses.
small-business owners usually employ between 500 and 1,000 workers.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
While managers help to make entrepreneurs’ visions a reality, they aren’t required to
set business objectives.
assume the risk involved.
formulate company policy.
implement procedures.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The most likely reason an individual might turn a woodworking hobby into a business is
because of
higher taxes.
guaranteed financial security.
sales quotas.
personal satisfaction.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Michelle’s primary reason for starting her own business is her desire to make her own schedule. Michelle is looking forward to the __________ she hopes to have as a business owner.
advanced technology
personal commitment
tax breaks and deductions
flexibility and independence
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Many businesses fail due to insufficient capital. Insufficient capital is also known as a lack of
advertising.
employees.
money.
commitment.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the early stages of a start-up business, entrepreneurs assume sole responsibility for
all aspects of their businesses. c. the demand of their products.
global economic growth rates. d. the daily activities of competitors.
the demand of their products.
the daily activities of competitors.
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