6th Grade-Chapter 21 African Women Entrepreneurs

What is the term used to describe a small business owned and operated by a single individual, often in the informal sector?

• Corporation

• Microenterprise

• Franchise

• Partnership

Which of the following best describes the role of microfinance in supporting micro-entrepreneurs?

• Providing large loans for business expansion

• Offering small loans and financial services to low-income individuals

• Investing in large corporations

• Offering free business consultancy services

What is the primary goal of a micro-entrepreneur?

• To become a multinational corporation

• To provide employment to thousands of people

• To earn a sustainable income for themselves and their families

• To dominate the global market

What is the term for the money that is borrowed and must be repaid, often used by micro-entrepreneurs to start or grow their businesses?

• Equity

• Loan

• Grant

• Revenue

Which of the following is a common challenge faced by African women micro-entrepreneurs?

• Excessive government support

• Lack of access to capital

• Overabundance of skilled labor

• Too many customers

What is the term for the process of creating new products or methods that improve efficiency or solve problems?

• Innovation

• Imitation

• Stagnation

• Regulation

Which of the following best describes a cooperative?

• A business owned by a single individual

• A business owned and operated by a group of people for their mutual benefit

• A government-run enterprise

• A non-profit organization

What is the definition of an informal economy?

• the part of the economy that does not wear formal attire (dressy clothes) to work in.

• the part of the economy that uses words like "slay", "bruh", and "skibidi"

• the part of the economy in which good and services are exchanged outside of government control.

• exchange of goods and services without the exchange of money.

Which of the following is a benefit of micro-entrepreneurship for local communities?

• Decreased local employment

• Increased local economic activity

• Higher taxes for small businesses

• Reduced competition

What is the term for the financial gain made in a transaction, calculated as the difference between the amount earned and the amount spent?

• Revenue

• Profit

• Loss

• Expense