Business and Entrepreneurship Quiz

What is one function of a business?

• To create confusion

• To define laws

• To earn a profit

• To build roads

What is an example of something you might need for a Lemonade Stand?

• A computer

• Lemonade mix

• A television

• A bicycle

What does the term "Founder" refer to in the context of finances?

• A person who starts a company

• A type of bank account

• A financial transaction

• A type of investment

What is the purpose of a "deposit" in banking?

• To withdraw money

• To add money to an account

• To close an account

• To transfer money to another bank

What does "withdrawal" mean in banking terms?

• Adding money to an account

• Removing money from an account

• Transferring money to another bank

• Closing an account

What is the purpose of creating a business plan and pitching it to the VC?

• To receive the highest possible price per share of stock.

• To make a copy of Venture Capitalist Questions.

• To complete the Project Finance Worksheet.

• To build a full-scale prototype.

What should teams decide when planning to make 25 bracelets?

• The color of the bracelets

• How much money they will need

• The history of bracelets

• The type of packaging

What tool is suggested for creating a commercial?

• A calculator

• A textbook

• An iPad or phone

• A whiteboard

What does the CEO do?

• in charge of finances

• Oversee the company

• get the companies name out there to consumers

Why is it important to understand scarcity?

• It helps in making decisions when resources are scarce

• It allows you to ignore resources

• It makes everything free

• It stops trade