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WorksheetsCornerstone Academy Entrepreneurship: Test 1
Total questions: 35
Worksheet time: 18mins
Name
Class
Date
1.
an economic system based on private ownership of capital
a)
capitalism
b)
socialism
c)
communism
2.
wealth in the form of money or property owned by a person or business
a)
capital
b)
profit
c)
wealth
3.
one who opens and operates a business and who assumes risk for that business
a)
employee
b)
entrepreneur
c)
embezzler
4.
the process of running one's own business
a)
establishment
b)
corporation
c)
entrepreneurship
5.
one who works for someone else
a)
entrepreneur
b)
employer
c)
employee
6.
All of the following, EXCEPT __,
is a great reason to pursue entrepreneurship.
is a great reason to pursue entrepreneurship.
a)
to follow a dream
b)
to boss people around
c)
to make more money
7.
Which of the following is NOT a main type of business?
a)
manufacturing
b)
wholesaling
c)
counterfeiting
8.
Which type of business produces goods?
a)
manufacturing
b)
retailing
c)
wholesaling
9.
Which type of business buys large amounts of good and sells them to retailers?
a)
manufacturing
b)
wholesaling
c)
retailing
10.
Which type of business is primarily about doing something for someone?
a)
manufacturing
b)
retail
c)
service
11.
In which type of business does one have clients?
a)
retail
b)
wholesale
c)
service
12.
Which entrepreneurial trait is concerned with one making his own decisions and doing something he enjoys?
a)
independence
b)
determination
c)
self-confidence
13.
Which entrepreneurial trait is related to "thinking outside the box"?
a)
goal-oriented
b)
creative
c)
need to achieve
14.
Which entrepreneurial trait is most important for advertising in today's market?
a)
self-confidence
b)
setting high standards
c)
keeping up with technology
15.
Which of the following is NOT a highly-important trait of an entrepreneur?
a)
goal-oriented
b)
creative
c)
good health
16.
Which entrepreneurial trait would NOT be critical when one's business is struggling and the entrepreneur could use some help?
a)
perseverance
b)
up-to-date with technology
c)
independence
17.
A successful entrepreneur does/makes something which he/she ____.
a)
loves
b)
needs to learn
c)
has earned a degree to do
18.
A ___, ___ work environment may be the most important thing that an entrepreneur can provide his employees.
a)
high-paying, challenging
b)
comfortable, respectful
c)
easy, fun
19.
An entrepreneur can change a customer/client's life by provided a ___ or ___ that is needed.
a)
good/service
b)
good/payment
c)
recommendation/payment
20.
For a successful business, customers/clients must know how to ___ you.
a)
pay
b)
recommend
c)
find
21.
Successful entrepreneurs ____.
a)
work harder than anyone else after difficulty
b)
refer people to other businesses when facing difficulty
c)
bounce back from difficulty
22.
Without a positive ____, a business will not succeed for long.
a)
cash flow
b)
slogan
c)
website
23.
Entrepreneurs take ___ that their employees do not have to take.
a)
negative phone calls
b)
complaints from customers
c)
risks
24.
Which of the following is NOT a disadvantage of entrepreneurship?
a)
Uncertain and irregular hours
b)
uncertain and irregular income
c)
long hours
25.
What main problem might result if an entrepreneur did not keep up with technology?
a)
He would have a lot of paperwork.
b)
He might not be able to advertise as successfully.
c)
He might lose employees?
26.
How is the risk less for an employee than for an entrepreneur?
a)
He/she can get another job fairly easily.
b)
He/she doesn't really care about the business.
c)
He/she has lots of money and doesn't really need the job anyhow.
27.
All of the following EXCEPT ___ are risks for an entrepreneur?
a)
Loss of money
b)
Loss of friends
c)
Loss of reputation
28.
An employee is an example of ___.
a)
risk
b)
capital
c)
entrepreneur
29.
What is one way that an employee might be affected by an entrepreneur's positive decisions?
a)
loss of job
b)
a promotion
c)
loss of reputation
30.
What is one way in which an employee might be affected by an entrepreneur's poor decisions?
a)
loss of job
b)
promotion
c)
loss of reputation
31.
Starbucks is a ___.
a)
manufacturer
b)
wholesaler
c)
retailer
32.
Cornerstone Academy is a ____
business.
business.
a)
manufacturing
b)
retail
c)
service
33.
____ and ____ are entrepreneurial traits needed when challenges are present.
a)
determination and perseverance
b)
bossiness and stubbornness
c)
ability to act quickly and perfectionism
34.
Young entrepreneurs should not drop out of school for all of the following reasons EXCEPT ___.
a)
Their business may fail.
b)
Educated people make more money.
c)
They will miss their friends.
35.
The entrepreneurial trait associated with "thinking on their feet" is ___.
a)
keeping up-to-date with technology
b)
determination and perseverance
c)
ability to act quickly
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