PPSI- Mock Assessment- Entrepreneurship

An individual who starts, creates and manages a new business can be called

•  A leader

  · 

•   A manager

• . A professional

•  An entrepreneur

 Which could provide an individual with the motivation to start a new business venture?

  

•     A. The financial rewards.

• B. A desire to be independent.

• · 

  ·  C. Risk taking

•   D. All the above.

Which of the following factors should not be included in PESTLE analysis?

•    Government re-cycling policy.

• Proposed reduction in interest rates.

•  Competitor activity.

• Demographic changes.

Why are small businesses important to a country's economy?

  

•   A. They give an outlet for entrepreneurs.

•   

  B. They can provide specialist support to larger companies.

•   C. They can be innovators of new products.

• D. All the above.

A business arrangement where one party allows another party to use a business name and sell its products or services is known as.

•     A. A cooperative.

• B. A franchise.

• C. An owner-manager business.

• D. A limited company.

Which of the following is the reason for business failure?

 

•   A. Lack of market research.

• B. Poor financial control.

• C. Poor management.

• D. All the above.

The use of informal networks by entrepreneurs to gather information is known as

• A. Secondary research.

• B. Entrepreneurial networking.

• C. Informal parameters.

• D. Marketing

Good sources of information for an entrepreneur about competitors can be obtained from?

• A. Websites.

• B. Product information leaflets.

• C. Company reports and published accounts.

• D. All the above.

A new venture's business plan is important because .

• A. It helps to persuade others to commit funding to the venture.

• B. Can help demonstrate the viability of the venture.

• C. Provides a guide for business activities by defining objectives.

• D. All the above.

Primary data is?

• A. the most important data.

• B. the data that is collected first.

• C. new data specifically collected for a project.

• D. data that is collected second.