ENTREPRENEURIAL MANAGEMENT QUIZ 1

(a)  

•

The process of starting and running one’s own business

• Entrepreneurship
• Communication
• Leadership

An ​ (a)   is an individual who undertakes the risk associated with creating, ​ (b)   , and owning a business.

• entrepreneur
• organizing

A person who organizes, develops operates, and  engages in his/ her own business.

• Buyer

• Client

• Entrepreneur

• Sales Lady

Entrepreneurs look for challenging opportunities and are not afraid of the possibility of failure.

• Risk Taker
• Goal Oriented
• Creative
• Responsible

Entrepreneurs believe in themselves.

• Creative
• Responsible
• Risk Taker
• Self Confident

John Santos Tax Service is an example of which type of business?

• manufacturing business

• wholesaling business

• retailing business

• service business

Which of the following is not an advantage of entrepreneurship?

• entrepreneurs are their own bosses

• entrepreneurs can be creative

• entrepreneurs take all the risks involved with starting a business

• Entrepreneurs can make large sums of money.

Barbara Wall had a great recipe for sweet bell pepper sauce. Her friend Lynne Wilson convinced her that they should go into business together and sell the sauce. They now ship J.T.’s Red Sauce

to stores in 35 states. Wall and Wilson are examples of

• intrapreneurs

• entrepreneurs

• employees

• managers

Which of the following is not an example of an entrepreneur?

• Diane Molberg started By Request, a successful home bakery

  business.

• Donna Cook started a cleaning service 10 years ago

• Gwen Morgan manages The Secret Garden, a business owned

  by her sister.

• Elmer Olsen created Bayfield Apple Jam and distributes the jam

  nationally

The plant where Goodyear tires are made is an example of which

type of business?

• manufacturing business

• wholesaling business

• retailing business

• service business