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Entrepreneurship Basics Quiz

Authored by Gyle Lobederio

Other

12th Grade

Used 5+ times

Entrepreneurship Basics Quiz
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19 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the best definition of entrepreneurship?

Managing an already successful business

The process of identifying opportunities and turning ideas into business ventures

Avoiding risks and focusing on stable jobs

Working for a company as an employee

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who among the following emphasized innovation in entrepreneurship?

Frank H. Knight

Fred Wilson

Joseph Schumpeter

Henry Ford

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does an entrepreneur earn compared to an employee?

Profit-based, no fixed salary

Monthly salary with benefits

Hourly wages

Commission-only income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key difference between an entrepreneur and an employee?

Entrepreneurs follow company rules, while employees make independent decisions

Entrepreneurs take high risks, while employees have minimal risks

Entrepreneurs receive a fixed salary, while employees rely on profit

Entrepreneurs work under supervision, while employees lead businesses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is a business plan important?

To impress competitors

To provide direction and minimize risks

To spend more money on marketing

To avoid hiring employees

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a feasibility study?

To determine if a business idea is worth pursuing

To provide a step-by-step business plan

To create a marketing strategy

To attract investors

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement best describes a goal?

A general long-term outcome

A short-term, specific target

A daily task list

A financial forecast

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