
Entrepreneurship Final Review
Authored by Sajdah Muhammad
Business
12th Grade
Used 1+ times

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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to an individual who starts and runs a business, taking on financial risks in the hope of profit?
Investor
Franchisee
Entrepreneur
Franchisor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the money invested in a business to generate income?
Profit
Capital
Supply
Demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term describes a business arrangement where one party allows another to use its trademark and business model?
Sole proprietorship
General Partnership
Franchise
LLC
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the economic system where private businesses operate in competition and largely free of state control?
Free enterprise system
Limited partnership
S Corporation
Small Business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to the condition where resources are limited in relation to wants and needs?
Supply
Scarcity
Equilibrium
Demand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a business owned and operated by one person?
General Partnership
Limited partnership
Sole proprietorship
S Corporation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of starting a new business is known as:
Diversification
Entrepreneurship
Liquidation
Amortization
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