NEW
Font size
S
M
L
XL
WorksheetsExploring Business & Entrepreneurship Review
Total questions: 41
Worksheet time: 21mins
Name
Class
Date
1.
Services are...........
a)
clothing
b)
hairdresser
c)
personal care products
d)
computers
2.
Products are.............
a)
nail technician
b)
lawncare
c)
clothing
d)
waitress
3.
This is someone who uses goods & services.
a)
consumer
b)
customer
c)
business
4.
Someone who purchases goods or services.
a)
customer
b)
consumer
c)
business
d)
opportunity
5.
Things that are necessary for survival are called
a)
wants
b)
opportunities
c)
needs
d)
presents
6.
A reason or motive for starting a business is the desire to make money. This is called the
a)
profit margin
b)
opportunity
c)
function
d)
profit motive
7.
This includes recording activities that deal with money so managers can make better business decisions.
a)
accounting
b)
profit motive
c)
services
d)
goods
8.
Paying taxes, purchasing inventory, preparing payroll checks are all part of
a)
management
b)
accounting
c)
marketing
d)
operations
9.
This function of business is to make sure the organization meets its goals & obligations.
a)
marketing
b)
operations
c)
management
d)
human resources
10.
This is the process of satisfying the needs and wants of consumers through exchange.
a)
marketing
b)
management
c)
operations
d)
information technology
11.
This function of business is mainly concerned with maintaining email accounts, software applications & processing systems.
a)
operations
b)
human resources
c)
information technology
d)
man
12.
If you are working in this area of business you are managing the personal relations within the company; helping to develop the skills and knowledge necessary to be successful while on the job.
a)
Human Resources
b)
Marketing
c)
Operations
d)
Management
13.
This type of business lets the owner keep all the profits but he also has to pay for everything needed for the business and has unlimited liability.
a)
sole proprietorship
b)
corporation
c)
franchise
d)
partnership
14.
The owner has full responsibility for the company's debts and can lose their entire investment as well as personal assets.
a)
liability
b)
liable
c)
limited liability
d)
unlimited liability
15.
This type of business is fairly easy to start, and is owned by two or more people.
a)
partnership
b)
corporation
c)
franchise
16.
Owned by many people called stockholders, but treated by law as one person. To raise money, this type of business may sell stock.
a)
corporation
b)
franchise
franchise
franshise
franchise
franshise
c)
partnership
d)
sole proprietorship
17.
This is what you call a business when its facilities (offices) are in different countries. Examples are Coca-Cola, Wal-Mart, Honda, BMW, etc.
a)
local
b)
national
c)
multinational
d)
central
18.
You have a contractual agreement between the parent company and yourself to sell a company's products or services in a specific geographical area.
a)
corporation
b)
proprietorship
c)
franchise
d)
partnership
19.
A disadvantage to owning a franchise is....
a)
you are limited in what product/service you can sell.
b)
it is easy to start.
c)
you can get help if you need it.
d)
you can rely on the good name of the parent company.
20.
If you are earning more revenue than expenses, you are called a
a)
non-profit business.
b)
franchise.
c)
profit-making business.
d)
corporation.
21.
This type of business cannot be run for the financial gain of the members or directors.
a)
non-profit making
b)
profit making
c)
donor based
d)
member based
22.
These are items that businesses sell that can be physically weighed or measured.
a)
product
b)
service
c)
need
d)
want
23.
These are tasks that businesses perform or provide for customers.
a)
product
b)
service
c)
good
d)
need
24.
Some businesses can sell both products and services.
a)
false
b)
true
25.
Entrepreneurs are often curious about things. This means they are
a)
goal-oriented
b)
persistent
c)
inquisitive
d)
creative
26.
When you are accountable for your own actions, you are
a)
persistent
b)
creative
c)
responsible
d)
risk-taker
27.
Entrepreneurs must develop writing, speaking and listening skills. These are known as
a)
communication skills
b)
human relations skills
c)
problem solving skills
d)
basic business
28.
Getting along with others and meeting new people is a
a)
human relations skill
b)
communication skills
29.
The process of starting & running a business.
a)
entrepreneur
b)
entrepreneurship
30.
Computer skills are a
a)
math skill
b)
basic business skill
c)
technical skill
31.
The entrepreneurial process includes
a)
harvesting, concept development, sourcing, discovery, actualization
b)
discovery, actualization, concept development, resourcing, harvesting
c)
concept development, resourcing, actualization, harvesting
32.
A proposal that describes a new business and is present to investors and lenders.
a)
business blueprint
b)
business plan
c)
outline
33.
A brief one-two page description of the key points of each section of the business plan is
a)
business blueprint
b)
executive summary
c)
operation plan
34.
This part of the business plan is where you show the qualifications of the entrepreneurs and the partners who may be involved in the business venture.
a)
marketing plan
b)
operational plan
c)
management team plan
d)
growth plan
35.
This part of the business plan includes the managements philosophy, key management personnel and key employment policies.
a)
organizational plan
b)
operational plan
c)
management plan
36.
This section of the business plan includes all processes involved in producing/delivering the product or service to the customer.
a)
operational plan
b)
management plan
c)
industry/market analysis plan
d)
organizational plan
37.
A legal agreement between two or more parties is...
a)
note
b)
contract
c)
concert
d)
consumer agreem
38.
This protects a business' name or logo.
a)
patent
b)
trademark
c)
copyright
39.
This protects inventions of products or processes.
a)
trademark
b)
patent
c)
copyright
40.
This protects literary, musical, artistic and dramatic works.
a)
patent
b)
copyright
c)
trademark
41.
Taxes are required of all profit-making businesses.
a)
false
b)
true
Reset
