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Understanding Entrepreneurship Basics

Authored by James Carter

Other

9th Grade

Used 6+ times

Understanding Entrepreneurship Basics
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20 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How do entrepreneurs contribute to the economy?

By reducing job opportunities

By driving innovation and creating jobs

By avoiding competition

By limiting market growth

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

According to the U.S. Small Business Administration, what qualifies as a small business?

A company with under 50 employees

A business with fewer than 500 employees

Any business run by an entrepreneur

A company that does not expand

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Who is mainly responsible for setting company goals and strategies?

Investors

Managers

Customers

Competitors

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is a frequent cause of business failure?

Too many employees

Lack of necessary funding

Excessive marketing

Minimal competition

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How has the internet influenced entrepreneurship?

By eliminating financial challenges

By making starting a business more accessible

By reducing the need for record-keeping

By replacing traditional businesses

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Why is passion important for an entrepreneur?

It ensures financial success

It helps them stay motivated and overcome obstacles

It eliminates business risks

It replaces the need for financial management

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is a key factor in an entrepreneur’s success?

Refusing to take risks

Recognizing strengths and weaknesses

Depending on government funding

Avoiding competition

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