Entrepreneurship Quiz

Which of the following best describes an entrepreneur?

• Someone who invests in the stock market

• A person who works for a corporation

• A person who starts and manages a business

• A person who manages an office

Which of the following is not a characteristic of successful entrepreneurs?

• Risk-averse

• Creative

• Self-motivated

• Goal-oriented

The process of creating and managing a business to achieve desired objectives is called:

• Management

• Entrepreneurship

• Marketing

• Accounting

What is a feature of a product?

• A reason someone buys it

• Its price

• Its color or design

• The customer’s need

A benefit of a water bottle that is insulated is:

• It's made of stainless steel

• It comes in five colors

• It keeps your drink cold

• It has a logo

Which of the following is part of the marketing mix?

• People

• Ideas

• Technology

• Environment

Which of these is an example of promotion?

• Setting a price

• A social media ad

• Deciding where to sell

• Creating a prototype

Which of the following best describes a target market?

• Everyone who has money

• All teenagers

• A specific group of people a business aims to serve

• A company's competitors

Which term describes when a business sets itself apart from competitors?

• Marketing mix

• Differentiation

• Demographic

• Market segment

A common reason businesses fail is:

• Too many employees

• Too much success

• Lack of market need

• Charging high prices