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NTC Entrep PRELIM EXAM

Authored by MArk Cruz

Business

12th Grade

Used 9+ times

NTC Entrep PRELIM EXAM
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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of an entrepreneur in the economy?

To consume resources

To provide employment and income

To avoid paying taxes

To rely on government support

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the 4 basic aspects of being an entrepreneur?

Creation of something of value

Devotion of necessary time and effort

Avoidance of risks

Getting rewards

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used to describe a person who starts and operates a business and is willing to take risks?

Employee

Entrepreneur

Investor

Manager

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the multiplier effect refer to in entrepreneurship?

The decrease in economic activity due to spending

The impact of monetary supply changes on economic activity

The increase in taxes due to entrepreneurship

The reduction of employment opportunities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the psychological rewards of entrepreneurship?

Increased workload

Dependency on others

Improved self-esteem and confidence

Guaranteed financial success

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a problem associated with entrepreneurship?

Unlimited working hours

Emotional stress

Guaranteed high profits

Easy job responsibilities

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for calculating profit?

Cost & Expenses - Selling Price

Selling Price + Cost & Expenses

Selling Price - Cost & Expenses

Cost & Expenses x Selling Price

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