Entrepreneurship Quiz

What is an entrepreneur?

• Someone who invests in stocks.

• Someone who recognizes a business opportunity and assumes the risks of starting a business.

• Someone who works for a government organization.

• Someone who teaches business management.

What do entrepreneurs face when starting a business?

• No challenges.

• Many rewards.

• Many challenges.

• Immediate success.

What can successful entrepreneurs see?

• Decreased market share.

• Many rewards.

• Constant challenges.

• No benefits.

What is a small business?

• A large corporation with branches in multiple countries

• A government-owned company

• An independently owned business that usually has the owner as its manager

• A non-profit organization

What is a virtual business or dot-com company?

• A company that only exists in virtual reality

• A business that operates on the Internet

• A traditional brick-and-mortar business without online operations

• A business that sells computer hardware

What is entrepreneurship?

• The process of selling products online

• The process of recognizing an opportunity

• The process of hiring employees

• The process of investing in the stock market

Which of the following is a component of entrepreneurship?

• Avoiding marketplace testing

• Gathering the resources necessary to go into business

• Ignoring market demands

• Focusing solely on profit maximization

What is a venture in the context of entrepreneurship?

• A) A government-funded program

• B) A new business undertaking that involves risk

• C) A guaranteed success business model

• D) A non-profit organization

Which of the following is NOT a personal characteristic of entrepreneurs according to Figure 5.1?

• Risk-taking

• Self-confident

• Restless

• Pessimistic

What do entrepreneurs do once they achieve their goals, as stated in Figure 5.1?

• They become satisfied and stop working.

• They start looking for new challenges.

• They take a break from their work.

• They repeat the same goals.