Which of the following will most likely result in the growth of your company?

Increasing your market share from 50% to 60%.

Increasing the quality of your product.

Increasing the number of your employees from 500 to 600.

What does a SWOT analysis evaluate?

Strengths, Weaknesses, Opportunities, Threats

Strengths, Weaknesses, Opposition, Threats

Symptoms, Weaknesses, Opportunities, Threats

Strengths, Weaknesses, Opportunities, Targets

Which of the following is NOT true about an entrepreneur?

An entrepreneur's salary is evaluated based on his ability to complete the tasks assigned to him

An entrepreneur gets to act as his own boss.

An entrepreneur is responsible for the success of their business

An entrepreneur has ownership in the business

Which of the following is NOT a true statement about business plans?

They are created before starting a business

They should include an overview of your business goals and how you think you are going to achieve them

They can help lower the risk of starting a new business

Which of the following is an advantage of starting your own business?

You have control over where and when you work

As long as you make a business plan, you will know what obstacles to expect

During the startup phase, you do not have to think about funding

You are in charge of the decision making so there is little to no risk

What is the main difference between a personal characteristic and a skill?

Skills can be learned while characteristics are inherent qualities

Characteristics become skills over time

Many people are born with business skills, but not characteristics

You can learn a characteristic, but not skills

What role do entrepreneurs play in economics?

Entrepreneurs create the businesses that produce products that meet the wants and needs of consumers

Entrepreneurs borrow money from the economy to start their businesses

Entrepreneurs tell consumers what they should want or need

Sharon is thinking about opening a bakery. Which of the following would NOT be a good early step?

immediately put down a deposit for a store front property

What is the most accurate way to calculate the Economics of One Unit?

Go through the process of making cupcakes and measure the ingredients. Then calculate the cost per ingredient

Go online and find competitor's expenses

Guess and set a price without considering cost

Estimate the cost to buy all ingredients at the store then divide by the number of cupcakes

Why is it important to use the information gathered from your market research on your target market segment to build your marketing plan?

Marketing strategies should be designed to appeal to these potential customers

Because you can figure out if the plastic works with your chairs

It's less costly if you use research to build marketing strategies

None of the above-market research is not important

What is the advantages of being an entrepreneur?

You have a more flexible schedule

Your work schedule is always predictable

You can't control over your work

You do not always receive a regular paycheck

What is a disadvantages of being an entrepreneur?

You do not always receive a regular paycheck

Your work schedule is always predictable

You have more control over your work

You have a more flexible schedule

Entrepreneurship Midterm

Authored by JENELL CRADDOCK

Business

9th - 12th Grade

Used 10+ times

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

Content View
Student View

51 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which one is TRUE about an entrepreneurship?

They are always well-funded and carefully planned

There are no known risks

They do not hire any employees

There are lots of risks and rewards involved

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What is the definition of an entrepreneur?

An entrepreneur is someone who creates a business and potentially makes money and runs the business.

none of these

An entrepreneur is someone who manages a business.

An entrepreneur is someone who owns a business and makes profit from that business

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which type of entrepreneurship works at making the world a better place by solving crises and problems?

Corporate

Scalable startup

Small business

Social

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Local grocery stores and hair salons are examples of what type of entrepreneurship?

Small business

Social

Corporate

Large company

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Someone who creates a new product to sell and takes on all of the risks and responsibility is known as what?

A venture capitalist

A corporation

An accountant

An entrepreneur

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which type of entrepreneurship focuses on being able to grow with more financial backing?

Private

Scalable startup

Social

Small business

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

How do focus groups help companies in developing new products?

They help determine the prices of their products.

They provide relevant and new feedback about their products.

They perform research for the company in real world setting.

They develop the marketing strategies with the company to promote their products.

They create surveys for the companies to gather answers to specific questions about their products.

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

50 questions

Dave Ramsey Chapt. 1 & 2 Review

Quiz

•

10th - 12th Grade

50 questions

Marketing Cluster Exam

Quiz

•

9th - 12th Grade

50 questions

Advertising Techniques

Quiz

•

7th - 9th Grade

50 questions

Digital Marketing in Sports and Entertainment

Quiz

•

10th Grade

50 questions

Latihan PAS PKK 2019

Quiz

•

11th Grade

56 questions

Law of Supply and Demand

Quiz

•

10th - 12th Grade

50 questions

LATSOL GENAP MAKANAN INTERNASIONAL

Quiz

•

11th Grade

51 questions

Entrepreneurship UNIT 1 (The Nature of Entrepreneurship)

Quiz

•

10th Grade

Popular Resources on Wayground

6 questions

PRIDE Always and Everywhere

Presentation

•

12th Grade

20 questions

Lab Safety Quiz

Quiz

•

6th Grade

26 questions

KOR Review Kahoot Questions

Quiz

•

8th Grade

21 questions

Continents and Oceans

Quiz

•

6th Grade

12 questions

Unit Zero lesson 2 cafeteria

Presentation

•

9th - 12th Grade

20 questions

Parts of Speech

Quiz

•

5th Grade

10 questions

Riddles Riddles fun Riddles

Quiz

•

6th - 12th Grade

16 questions

Subject & Predicate

Quiz

•

5th Grade

Discover more resources for Business

18 questions

Types of Business Ownership

Presentation

•

9th - 12th Grade

13 questions

BizInnovator Startup - Experience and Overview

Quiz

•

9th - 12th Grade

26 questions

Types of Business Ownership FLASHCARDS

Flashcard

•

10th Grade

24 questions

4 P's of Marketing

Quiz

•

10th - 12th Grade

Entrepreneurship Midterm

Which one is TRUE about an entrepreneurship?

What is the definition of an entrepreneur?

Which type of entrepreneurship works at making the world a better place by solving crises and problems?

Local grocery stores and hair salons are examples of what type of entrepreneurship?

Someone who creates a new product to sell and takes on all of the risks and responsibility is known as what?

Which type of entrepreneurship focuses on being able to grow with more financial backing?

How do focus groups help companies in developing new products?

Which of the following will most likely result in the growth of your company?

A ______________ is a quick description of your business that you use to explain it to potential investors.

__________________ are the operating expenses that a business must pay regardless of how many sales are made.

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Business