Crash Course Business: Entrepreneurship Quiz

What is a common challenge entrepreneurs face when trying to manage everything themselves?

• Lack of creativity

• Time management issues

• Too many employees

• Excessive funding

What are key partners in a business context?

• External individuals or businesses

• Customers

• Full-time employees

• Competitors

How can forming key partnerships benefit a business?

• By limiting market reach

• By complicating business operations

• By lowering costs and reducing risks

• By increasing employee turnover

Which of the following is NOT a type of key partner?

• Suppliers

• Manufacturers

• Distributors

• Competitors

Why might an entrepreneur seek a legal partner?

• To ensure compliance with laws

• To increase product prices

• To hire more employees

• To reduce marketing costs

What is a strategic reason for partnering with a manufacturer?

• To limit production capacity

• To increase employee workload

• To access specialized equipment and expertise

• To reduce product quality

What is a key consideration when choosing a supplier?

• Their marketing strategy

• Their company size

• Their price and quality of materials

• Their location

What is a potential benefit of partnering with a distributor?

• Increased local sales

• Access to wider markets

• Higher production costs

• Reduced product quality

In the hypothetical example, what is Paola's main focus in her business?

• Growing cacao beans

• Making chocolate

• Designing packaging

• Managing social media

What is the main takeaway from the example of forming key partnerships?

• Entrepreneurs should do everything themselves

• Asking for help can lead to business growth

• Legal partners are unnecessary

• Partnerships are only for large businesses