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Worksheetsunit one: entrepreneurship
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
Privately owned businesses operate to make a profit with limited government regulation
a)
command economy
b)
market economy
c)
traditional economy
d)
mixed economy
2.
System in which citizens have just what is needed to survive.
a)
mixed economy
b)
market economy
c)
command economy
d)
traditional economy
3.
A large number of small businesses sell similar products at different prices.
a)
oligopoly
b)
monopolistic competition
c)
market structure
d)
perfect competition
4.
How a market is organized, based on the number of businesses competing for sales in an industry.
a)
perfect compitition
b)
market structure
c)
monopoly
d)
monopolistic competition
5.
Record-keeping, business letter-writing, and math skills.
a)
problem solving skills
b)
planning skills
c)
business skills
d)
personal
6.
completing a(n) ______________ can help you understand your personal preferences and identity strengths and weaknesses.
a)
self assesment
b)
personal
c)
smart goals
d)
career clusters
7.
A critical issue for most entrepreneurs is the ability to raise start up capital
a)
true
b)
false
8.
career pathways are subgroups within the career clusters
a)
true
b)
false
9.
the behavioral and emotional characteristics that make each person unique are skills that can be learned
a)
true
b)
false
10.
Which of the following is NOT included in the definition of a small business?
a)
organized for profit
b)
not dominant in its field
c)
national or international business
d)
independently owned and operated
11.
Self-management, integrity, and honesty are examples of ______ qualitites that are neededfor success in any career.
a)
personal
b)
traits
c)
realistic
d)
interpersonal skills
12.
a critical issue for most entrepreneurs is the ability to raise start up capital
a)
true
b)
false
13.
Which of the following is not a step on the decision making process?
a)
generic ideas
b)
define the challenge
c)
observe others
d)
implement your decision
14.
Recording the debit and credit parts of a transaction
a)
sale on account
b)
purchase on account
c)
double-entry accounting
d)
general ledger
15.
A transaction for which cash for the ale will be received at a later date
a)
sale on account
b)
journalizing
c)
purchase on account
d)
general ledger
16.
How a market is organized, based on the number of businesses competing for sales in an industry
a)
market structure
b)
perfect competition
c)
monopoly
d)
oligopoly
17.
Shows the percentage of dollars owed compared to assets owned
a)
working capitol
b)
net profit ratio
c)
operating ratio
d)
debt ratio
18.
Abraham maslow believed that people mist fulfill their emotional needs before they fulfill any other needs or wants
a)
true
b)
false
19.
hobbies can turn into successful businesses
a)
true
b)
false
20.
tangible items such as toothpaste, cars, and food are examples of products
a)
true
b)
false
21.
scarcity occurs when supply is higher than demand
a)
false
b)
true
22.
wholesalers usually sell directly to the customers
a)
true
b)
false
23.
Which of the following is part of the entrepreneurial discovery process?
a)
discovering different businessses
b)
raising start-up capital
c)
finding partners
d)
recognizing a need or want not being met
24.
Accounts payable are an example of ______.
a)
assets
b)
liabilities
c)
transactions
d)
owner's equity
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