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Entrepreneurship Quiz

Authored by SHERRY CLEARY

Life Skills

11th Grade

Entrepreneurship Quiz
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71 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of entrepreneurship?

The process of starting and operating a new business

The act of buying and selling goods

The management of a large corporation

The study of economic theories

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is small business important in the U.S. economy?

It creates a monopoly

It provides employment and innovation

It reduces competition

It increases government control

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one advantage of small-business ownership?

Limited decision-making power

High initial investment

Flexibility and independence

Guaranteed success

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common reason why many small businesses fail?

Excessive government support

Lack of market research and planning

Too much competition

Overabundance of resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the first steps in starting a small business?

Hiring a large team

Describing the business idea and resources needed

Investing in real estate

Expanding internationally

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which trends should be evaluated to understand the future of small businesses?

Fashion and design trends

Demographic, technological, and economic trends

Political and military trends

Environmental and agricultural trends

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are many large businesses trying to "think small"?

To reduce their workforce

To increase their market share

To become more agile and innovative

To avoid taxes

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