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 the government.

• Someone who teaches business management.

What do successful entrepreneurs see?

• Many challenges.

• No rewards.

• Many rewards.

• Immediate success.

What is a small business?

• A large corporation that operates in multiple countries

• A government-owned company

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

• A business that operates only on the Internet

What is a virtual business or dot-com company?

• A company that has no physical presence and operates only in the virtual world

• A business that operates on the Internet

• A traditional brick-and-mortar business

• A non-profit organization

What is an entrepreneur?

• A person who invests in stocks

• A person who recognizes an opportunity, organizes, manages, and assumes the risks of starting and operating a business

• A person who works for the government

• A person who teaches business courses

What is entrepreneurship?

• The process of applying for a job

• The process of recognizing an opportunity

• The process of buying a franchise

• 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

• Impatient

What quality do entrepreneurs demonstrate when they look for new ways to solve old problems?

• Creative

• Goal-oriented

• Responsible

• Inquisitive