Entrepreneurship Class Project Quiz

What is the first step in the project described in the entrepreneurship class?

• Conducting market research

• Developing a business plan

• Deciding on a business idea based on the demographics of the city

• Choosing the type of business to start

What type of business did one student decide to start?

• A computer repair business

• A retail store

• A franchise

• A service business

What was a common reason students chose not to start a business immediately?

• Lack of interest

• High risk

• Need to save money or time

• Market saturation

What did most students conclude about starting a business at the end of the project?

• It would be easy and not require much effort

• It would be complicated and require a lot of sacrifice

• It would not be worth the effort in the long run

• The government should own all businesses

The process of starting a new business is known as:

• Diversification

• Entrepreneurship

• Liquidation

• Amortization

Which of the following best defines entrepreneurship?

• The process of purchasing stocks and bonds

• The act of managing and organizing any enterprise, especially a business, usually with considerable initiative and risk

• The practice of being employed by a large corporation

• The activity of working for the government

The primary reason for a business to pursue entrepreneurship is to:

• Avoid taxes

• Create new markets or products

• Follow government regulations

• Reduce the number of employees

Who can be an entrepreneur?

• Only the wealthy

• People with a college degree

• People over the age of

• Anyone

Bradley decides to open his own auto repair business. He sets his own hours and makes sure he completes each job for his customers on time. This shows that he is ________.

• creative

• inquisitive

• Independent

• risk taker

Chelsea repairs iphone screens for cash. She works out of her apartment and advertises on social media.  Her target customers are other college students. What is she selling?

• iphones
• a repair service
• iphone screens
• advertisements