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WorksheetsEntrepreneurship 1 Standard 1.01-1.04
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Small businesses have a positive effect on the local community because they:
a)
A. reduce competition.
b)
B. pay taxes.
c)
C. limit job growth.
d)
D. charge interest.2.
2.
What is one of the main reasons why small businesses are strongly promoted and supported by local government?
a)
A. They serve only their local communities.
b)
B. They are owned by one person.
c)
C. They may become a big business.
d)
D. They are important to the economy.
3.
Which of the following statements is most likely to have a negative effect on domestic small-business growth:
a)
A. Involuntary tax reductions
b)
B. Restrictive loan policies
c)
C. Low interest rates
d)
D. Slow inflation
4.
Which of the following statements is true about entrepreneurship and small business growth:NCCTE.9_12.SH.ME11.1.01RBT:..
a)
A. Trade regulations have very little effect on small-business growth
b)
B. Many people start entrepreneurial ventures during times of economic recession.
c)
C. Small business start-ups are taxed at a higher rate than multinational companies
d)
D. Consumer spending is a primary factor that influences entrepreneurial success.
5.
Even when times are tough for Caitlin's business venture, she tends to remain positive- she looks at the glassas half full rather than half empty. What characteristic of entrepreneurship is Caitlin exhibiting?
a)
A. Organization
b)
B. Optimism
c)
C. Innovation
d)
D. Determination
6.
Home-based businesses are attractive to many people because the businesses generally.
a)
A. yield higher profit margins
b)
B. provide owners a steady income.
c)
C. have lower start-up costs.
d)
D. require less technical training.
7.
Successful entrepreneurs enjoy their work and often start their businesses so that they can share theirinterests and enthusiasm with others. In other words, successful entrepreneurs have __________ what they do.
a)
A. reservations about
b)
B. concerns about
c)
C. apathy for
d)
D. passion for
8.
Which of the following is a financial concern that entrepreneurs often face when starting new businesses:
a)
A. Irregular paychecks
b)
B. Long working hours
c)
C. Shorter vacations
d)
D. Lower production standards
9.
Which of the following statements is true regarding training for entrepreneurial ventures:
a)
A. Once entrepreneurs are educated or trained in their business field, they rarely need further education.
b)
B. Most successful entrepreneurs have degrees from four-year colleges or universities.
c)
C.The type of training and education that entrepreneurs need depends on the nature of the start-up business.
d)
D. Most entrepreneurs must pass state-mandated exams to operate their business.
10.
What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal?
a)
A. Creativity
b)
B. Self-discipline
c)
C. Risk taking
d)
D. Flexibility
11.
Governments can encourage entrepreneurial development by
a)
A. increasing interest rates on loans.
b)
B. deregulating and reducing taxes.
c)
C. establishing higher ethical standards.
d)
D. passing more legislation with strict guidelines
12.
Entrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and.
a)
A. how things are being done
b)
B. what was done in the past.
c)
C. when changes were last made.
d)
D. what needs to be done.
13.
What is a trend that affects the growth of entrepreneurial ventures?
a)
A. A rise in consumers' desire for slow-response times
b)
B. The shift to an agricultural-based society
c)
C. A higher demand for more convenience products
d)
D. The reduced need for health care and related services
14.
What is a disadvantage of entrepreneurship?
a)
A. Fewer resources
b)
B. Personal satisfaction
c)
C. Lower taxes
d)
D. Uncertain income
15.
Alaina needs advice and assistance in starting her new business venture, so she contacted the Service Corpsof Retired Executives (SCORE). Jack, a SCORE volunteer, agreed to act as Alaina's guide in the businessstart-up process. Jack is serving as Alaina's
a)
A. intermediary
b)
B. apprentice
c)
C. entrepreneur
d)
D. mentor
16.
16.Which of the following sources of start-up information would you recommend to an entrepreneur looking for information about the average start-up and operation costs for a self-serve laundromat:
a)
A. Service Corps of Retired Executives
b)
B. Coin laundry trade association
c)
C. Local chamber of commerce
d)
D. Small business administration
17.
17. A reliable source of general business start-up information is
a)
A. Wikipedia (www.wikipedia.org/wiki/Entrepreneurship).
b)
B. the Project Management Institute (www.pmi.org).
c)
C. the Small Business Administration (www.sba.gov).
d)
D. the National Retail Federation (www.nrf.com).
18.
18.Which of the following is an example of a written business inquiry:
a)
A memo outlining an upcoming meeting agenda
b)
B. An e-mail requesting vendor pricing and discounts
c)
C. A form describing an employee's performance review
d)
D. A report summarizing annual financial information
19.
19.What component is important to include in all types of inquiry letters?
a)
A. Contact information
b)
B. Personal qualifications
c)
C. Project specifications
d)
D. Attention-getting title
20.
20.When writing a letter of inquiry, when should you identify the purpose of your letter?
a)
A. At the beginning of the letter
b)
B. After describing your company
c)
C. Once the recipient has agreed to meet with you
d)
D. After identifying what prompted your inquiry (such as advertisement)
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