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Chapter 1 Quiz: The Business Idea

Authored by Patricia Amos

Business

9th - 12th Grade

Chapter 1 Quiz: The Business Idea
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an entrepreneur?

An individual who works for a company and follows orders.

An individual who creates a new business, bears most of the risks, and enjoys the rewards.

An individual who invests in the stock market.

An individual who manages a government office.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an entrepreneur usually known for?

Following traditional business models.

Being a source of new ideas/products/services.

Working in a government office.

Investing in real estate.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do all levels of government provide to promote entrepreneurship?

Loans and mortgages.

Grants and support programs.

Free office spaces.

Tax exemptions.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a motivation for starting a business?

A desire for independence

A desire for dependence

Lack of flexibility

Avoiding responsibility

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the motivations for starting a business mentioned in the document?

To avoid market needs

To fulfill a market need

To reduce social interaction

To minimise profit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT listed as a motivation for starting a business?

Freedom and flexibility

Success and wealth

To make a profit

To avoid competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the personal motivations for starting a business?

To fulfill a social need

To develop a niche business

To be 'your own boss'

To fulfill a market need

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