WorksheetsExploring Business Marketing & Entrepreneurship Module 1
Total questions: 64
Worksheet time: 46mins
Name
Class
Date
1.
Contest between businesses to win customer's business and loyalty
a)
profit
b)
needs
c)
competition
d)
services
2.
Items necessary for existence, such as clothing, food, and shelter?
a)
keeps prices down
b)
keeps quality of product good
c)
wants
d)
needs
3.
Which of the following is a need?
a)
Air Jordans
b)
designer jeans
c)
food
d)
new car
4.
Which of the following is a want?
a)
shoes
b)
winter coat
c)
UGG boots
d)
home
5.
Which of the following businesses would be considered a service business?
a)
Wal*Mart
b)
Roses
c)
L&J car wash
d)
KMart
6.
What is the purpose of a business?
a)
To fulfill the needs and wants of the consumer
b)
To make money
c)
To be you own boss
d)
To have as much time off as possible
7.
Businesses can be classified as
a)
goods
b)
Services
c)
both good and services
d)
one owner
8.
What function of business is responsible for paying bills?
a)
management
b)
accounting
c)
human resources
d)
marketing
9.
Which function of business is responsible for the hiring and firing of employees?
a)
Accounting
b)
Management
c)
Operations
d)
Human Resources
10.
Which Business function is responsible for making sure the organization meets its goals and obligations?
a)
Management
b)
Operations
c)
Marketing
d)
Information Technology
11.
Which business function is based on the 4 P's?
a)
Human Resources
b)
Marketing
c)
Accounting
d)
Operations
12.
Which business functions deal with emails and software applications?
a)
Information Technology
b)
Operations
c)
Marketing
d)
Management
13.
Which function is called the back office?
a)
management
b)
marketing
c)
operations
d)
information technology
14.
The 4 P's are Placement, Promotion;
a)
price and product
b)
peter and paul
c)
position and privilege
d)
priority and plausible
privacy and plausible
privacy and plausible
15.
In a business, who is responsible for the education of its employees?
a)
Human Resources
b)
Management
c)
College
d)
Trade school
16.
What type of business is owned by one person?
a)
Coroporation
b)
Franchise
c)
Sole Proprietorship
d)
Partnership
17.
What type of business is McDonalds, Arbys, Hardee, and Chick-a-Filet?
a)
Sole Proprietorship
b)
Partnership
c)
Coroporation
d)
Franchise
18.
Tangible Items that businesses sell are known as
a)
services
b)
goods
19.
Contest between businesses to win customers is called
a)
Cooperation
b)
Collabration
c)
Competition
d)
Collateral
20.
A business owned by 2 or more people is called a
a)
Partnership
b)
Coropoaration
c)
Sole Proprietorship
d)
Franchise
21.
Which business is considered separate from the owners of the business by law?
a)
Franchise
b)
Parternerships
c)
Sole Proprietorship
d)
Corporation
22.
A business whose goal is to provide a service rather than to make a profit. Examples include American Red Cross
a)
Sole Proprietorship
b)
Partnership
c)
Non-profit Organization
d)
Multinational Corporation
23.
A contract between a parent company and a franchisee to use the name and sell the goods or services of the parent company.
a)
Corporation
b)
Non-profit Organization
c)
Franchise
d)
Sole Proprietorship
24.
A company that does business and has business facilities in many countries.
a)
Corporation
b)
Partnership
c)
Multinational Corporation
d)
Franchise
25.
Paying taxes
a)
Accounting
b)
Management
c)
Marketing
d)
Information Technology
26.
Directing people
a)
Accounting
b)
Management
c)
Marketing
d)
IT
27.
Deciding where to sell a product
a)
Accounting
b)
Management
c)
Marketing
d)
IT
28.
Troubleshooting computers
a)
Accounting
b)
Management
c)
Marketing
d)
IT
29.
Setting the price for a product.
a)
Accounting
b)
Management
c)
Marketing
d)
IT
30.
Promoting a product
a)
Accounting
b)
Management
c)
Marketing
d)
IT
31.
Setting up a company email
a)
Accounting
b)
Management
c)
Marketing
d)
IT
32.
Setting company goals and objectives
a)
Accounting
b)
Management
c)
Marketing
d)
IT
33.
Managing financial records
a)
Accounting
b)
Management
c)
Marketing
d)
IT
34.
Determining the best features for a product
a)
Accounting
b)
Management
c)
Marketing
d)
IT
35.
Writing payroll checks
a)
Accounting
b)
Management
c)
Marketing
d)
IT
36.
Using company resources to accomplish goals
a)
Accounting
b)
Management
c)
Marketing
d)
IT
37.
The person who purchases a product
a)
Customer
b)
Consumer
38.
The person who uses a product
a)
customer
b)
consumer
39.
A product that is necessary for survival
a)
Want
b)
Need
40.
A product you would like to have but is not necessary for survival
a)
want
b)
need
41.
Items businesses sell that can be physically weighed or measured
a)
Good
b)
Service
42.
Tasks that businesses perform or provide for customers
a)
Good
b)
Services
43.
Which function is responsible for quality control?
a)
Management
b)
Operations
c)
Accounting
d)
Human Resources
44.
Which function is responsible for shipping goods?
a)
Management
b)
Operations
c)
Accounting
d)
Human Resources
45.
Which function is responsible for computer security?
a)
Management
b)
Marketing
c)
Accounting
d)
Information Technology
46.
A form of business ownership in which the owners share the risk of loss and the chance for profit is a(n)
a)
partnership
b)
sole proprietorship
c)
corporation
47.
Tom works as a computer consultant on his own. He obtains and services his customers, and handles all billing and collections. What form of ownership is Tom’s business?
a)
partnership
b)
sole proprietorship
c)
corporation
48.
Janet had to sell her car and vacation condo to pay her business debts. Janet’s situation is an example of
a)
limited liability
b)
unlimited liability
c)
total liability
d)
no liability
49.
Which form of business ownership generates a majority of U.S. sales?
a)
sole proprietorship
b)
partnerships
c)
corporations
50.
Corporations are governed by a(n)
a)
individual
b)
partnership
c)
Board of Directors
d)
magnificent 7
51.
Name the type of corporation which operates to accomplish a specific mission—other than to earn income
a)
for profit
b)
non-profit
c)
Chapter 7 LLC
d)
S Corporation
52.
What type of business ownership allows individuals to purchase shares of stock and become owner's?
a)
Sole proprietorship
b)
Partnership
c)
Corporation
53.
What is a business owned and operated by one person?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
54.
What is a business owned by stockholders/investors but operated by others?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
55.
What is a business owned and operated by two or more people?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
56.
What is ONE advantage of a sole proprietorship?
a)
You make ALL the decisions
b)
Easy to raise money
c)
You have to share profits
57.
Which is ONE disadvantage of Sole Proprietorship?
a)
Less direct control
b)
Disagreements
c)
Hard to raise money
58.
What is ONE advantage of a Partnership?
a)
Someone else can help with decisions, etc.
b)
Double taxes
c)
Disagreements
59.
What is ONE disadvantage of a Partnership?
a)
Easier to start
b)
Have to share the profits
c)
Help in making decisions
60.
What is ONE advantage of a Corporation?
a)
Difficult to start
b)
Make all of the decisions
c)
Easy to raise money!
61.
What is ONE disadvantage of a Corporation?
a)
Disagreements
b)
Less direct control
c)
The risk is all on one person
62.
Which business type makes up approximately 75% of all businesses?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
63.
What is ONE disadvantage of a Corporation?
a)
Disagreements
b)
Less direct control
c)
The risk is all on one person
64.
What is profit motive?
a)
the ability to make a profit
b)
incentive to make money
c)
profit-expense
d)
money generated from sells
100 %
